XTO Energy (XTO) Completes Purchase of 352K Acres of Bakken Shale Leasehold; Agrees to Acquire Additional 100K Acres for $115M
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XTO Energy Inc. (NYSE: XTO) today announced the completion of its previously announced acquisition of producing oil properties from Headington Oil Company for $1.05 billion in cash consideration and 11,742,391 shares of XTO common stock for total consideration of $1.8 billion. The purchase includes 352,000 net acres of Bakken Shale leasehold in Montana and North Dakota.
Also, XTO has agreed to acquire 100,000 net undeveloped acres in the play and 400 barrels per day of production for approximately $115 million from undisclosed parties in separate transactions.
XTO Energy, Inc. and its subsidiaries engage in the acquisition, development, exploitation, and exploration of producing oil and gas properties in the United States.
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