XTO Energy Updates Performance Guidance and Capital Budget for 2008

FORT WORTH, Texas, July 22 /PRNewswire-FirstCall/ -- XTO Energy Inc.
(NYSE: XTO) is providing operational and financial guidance for 2008 based on
current expectations for production, expenses, recently announced acquisitions
and other parameters resulting from ongoing operations and development budget
activities. These statements are forward looking, as described in the final
paragraph of this release, and actual results may differ materially. These
estimates do not include derivative fair value gains and losses, the effects
of possible future acquisitions or divestitures, or unforeseen events that may
occur after this release.
Production
The Company expects to grow its 2008 production volume by at least 29%.
The estimated ranges of average daily production are:
Q3 Q4

Natural Gas (Mmcf) 1,935 - 1,955 2,180 - 2,200
NGL (Mbbl) 17 19
Oil (Mbbl) 60 68
Total Gas Equivalent (Mmcfe) 2,397 - 2,417 2,702 - 2,722

Price Realizations and Differentials
The Company's realized natural gas and oil prices are expected to average
below the NYMEX prices due to regional differentials. The following are
estimated pricing differentials, or percentage reductions to NYMEX prices,
before consideration of any hedging activity:
Q3 - Q4 Differential
(Percentage of NYMEX)

Natural Gas 10 - 12%
Oil 8 - 10%

Realized pricing for natural gas liquids (NGL) is expected to be about 50%
to 55% of the average NYMEX oil price.
Expenses
The following table presents the Company's expected expenses per Mcfe
assuming an $11.00 per Mcf NYMEX gas price and a $115.00 per Bbl NYMEX oil
price:
Expense ($/Mcfe) Q3 - Q4

Production 1.00 - 1.05
Taxes, transportation and other 0.85 - 0.95
Exploration 0.05 - 0.10
Depreciation, depletion and amortization 2.20 - 2.40
Accretion of asset retirement obligation 0.02 - 0.04
General and administrative: cash 0.25 - 0.30
General and administration: non-cash, stock-based 0.12 - 0.18
Interest 0.55 - 0.60

2008 Capital Budget
The Company is increasing its budget for development and exploration
expenditures from $3.0 billion to $3.5 billion and its expenditures for
construction of pipeline infrastructure, compression and processing facilities
from $500 million to $600 million.

Hedging
The Company's current NYMEX hedging positions for natural gas and oil are:

PRODUCTION: Mcf or Bbls NYMEX Price
Natural Gas per Day per Mcf or Bbl

2008 July - Dec 1,200,000 $8.32
Sept - Dec 100,000 $12.64

2009 Jan - Dec 300,000 $10.26

2010 Jan - Dec 100,000 $10.27

Oil

2008 July - Dec 30,000 $74.20
July - Sept 8,450 $131.78
Oct - Dec 13,000 $135.35

2009 Jan - Dec 15,000 $119.59
Jan - Dec 5,000 $146.01

2010 Jan - Dec 10,000 $128.84
Jan - Dec 5,000 $146.01

Income Tax
For the year, the Company projects a 37% effective tax rate, with up to
30% of that amount expected to be currently payable.
XTO Energy Inc. is a domestic natural gas producer engaged in the
acquisition, exploitation and development of quality, long-lived oil and
natural gas properties in the United States. Its properties are concentrated
in Texas, New Mexico, Arkansas, Oklahoma, Kansas, Wyoming, Colorado, Alaska,
Utah, Louisiana, Mississippi, Montana, North Dakota, Pennsylvania and West
Virginia.
This release can be found at http://www.xtoenergy.com.
Statements made in this news release, including those relating to
production volume growth for 2008, average daily production, price
realizations and differentials, commodity prices, expenses, capital budget
expenditures in 2008 and effective income tax rates and percentage currently
payable are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. These statements are based on assumptions and estimates that management
believes are reasonable based on currently available information; however,
management's assumptions and the Company's future performance are subject to a
wide range of business risks and uncertainties and there is no assurance that
these goals and projections can or will be met. Any number of factors could
cause actual results to differ materially from those in the forward-looking
statements, including, but not limited to, failure to close previously
announced acquisitions, the timing and extent of changes in oil and gas
prices, changes in underlying demand for oil and gas, the timing and results
of drilling activity, the timing of production, treatment and transportation
facility installations, the availability of drilling equipment and technical
personnel, curtailments by third-party pipelines and processing or treatment
facilities, changes in interest rates, higher than expected production costs
and other expenses and failure to timely integrate acquired properties and
personnel. The Company undertakes no obligation to publicly update or revise
any forward-looking statements. Further information on risks and
uncertainties is available in the Company's filings with the Securities and
Exchange Commission, which are incorporated by this reference as though fully
set forth herein.
SOURCE XTO Energy Inc.

Louis G. Baldwin, Executive Vice President & Chief Financial Officer, or Gary
D. Simpson, Senior Vice President, Investor Relations & Finance, both of XTO
Energy Inc., +1-817-870-2800