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XTO Energy is an American Fortune 500 energy
producing company. Its primary products are oil and natural gas. It is based in
Downtown Fort Worth, Texas.[3] Its current CEO is Keith Hutton.The company was founded in 1985 as Cross Timbers Oil
Company. It changed its name in 2001.In 2007, it paid Dominion Resources US$2.5 billion
for 1 trillion cubic feet (28×109 m3) of oil and gas reserves in the Rocky
Mountains, Texas and southern Louisiana,In 2008 XTO acquired Hunt Petroleum Corporation for
$4.2 billion.At the end of the second quarter of 2009 XTO Energy became the
largest producer of natural gas in the United States.
In 2009, XTO entered into an agreement with
ExxonMobil to be acquired for $31 billion in stock. The deal was approved by
XTO's shareholders on June 25, 2010. As a subsidiary of ExxonMobil, the company
will be named XTO Energy Incorporated and it will focus on global development
and production of unconventional resources.
Type Private
Industry Oil
and gas industry
Founded 1985
Founder(s) Bob
R. Simpson
Headquarters Fort
Worth, Texas, United States
Area served North
America
Key people Jack
Williams (President)
Keith A. Hutton (Executive Vice President)
Products Petroleum
Natural gas
Website www.xtoenergy.com
