Profile: XTO Energy Inc. (XTO)

XTO Energy Inc., incorporated in 1990, along with its subsidiaries, is engaged in the acquisition, development, exploitation and exploration of both producing oil and gas properties and unproved properties, and in the production, processing, marketing and transportation of oil and natural gas. Its estimated proved reserves at December 31, 2008, were 11.80 trillion cubic feet (Tcf) of natural gas, 76 million barrels (MBbls) of natural gas liquids and 268 million Bbls of oil. On an energy equivalent basis, it’s proved reserves were 13.86 trillion cubic feet equivalent (Tcfe) at December 31, 2008. On an thousand cubic feet of natural gas equivalent (Mcfe) basis, 64% of proved reserves were proved developed reserves at December 31, 2008. During the year ended December 31, 2008, its average daily production was 1.91 Billion cubic feet (Bcf) of gas, 15.6 MBbls of natural gas liquids and 56 MBbls of oil. As of December 31, 2008, the Company owned interest in 33,285 gross (18,235.7 net) producing wells. In September 2008, XTO Energy Inc. completed its merger of Hunt Petroleum Corporation and other associated entities.

Eastern Region

The Company’s operations are located in East Texas and northwestern Louisiana. These properties produce from various formations. Approximately 35% of its total proved reserves are in this region. The Company has 3,300 to 3,600 identified potential drilling locations in this area. The Company’s primary focus in the Eastern Region is in the Freestone Trend where it has an interest in approximately 381,000 net acres. The trend consists of the Freestone, Bald Prairie, Oaks, Luna, Teague, Dew, Farrar and Bear Grass fields and was its most active gas development area in 2008. Other areas in the region include the Sabine Uplift and Cotton Valley areas of East Texas and northwestern Louisiana.

North Texas Region

The Company’s operations are located in the Barnett Shale of North Texas. The Company owns approximately 277,000 net acres, 57% of which is in the core productive area. It has 2,400 to 2,600 identified potential drilling locations in this area. It also owns 555,000 Mcf per day of treating capacity allowing it to add new wells as they are completed.

Mid-Continent and Rocky Mountain Region

The Company’s Mid-Continent and Rocky Mountain Regions include fields in Wyoming, Montana, North Dakota, Kansas, Oklahoma and Arkansas. It has operations in the Anadarko Basin, Fayetteville and Woodford Shales, Fontenelle area, Powder River Basin, Bakken Shale and the Arkoma Basin. While most of its production in the Mid-Continent region is from conventional sources, it is developing coal bed methane in the Powder River Basin of Wyoming and shale gas in Arkansas and Oklahoma. It has 2,450 to 2,850 identified potential drilling locations in this area. A portion of its properties in the Mid-Continent Region are subject to an 80% net profits interest conveyed to the Hugoton Royalty Trust. The Company operates a gathering system and pipeline in Major County, Oklahoma, and a gas plant in Texas County, Oklahoma, and its associated gathering system and a gas plant. It also own and operate a gas gathering and water disposal system in the Hartzog Draw area of Wyoming to service its coal bed methane wells.

San Juan Region

The Company’s San Juan Region includes properties in the San Juan and Raton Basins of New Mexico and Colorado, as well as properties in the Uinta Basin of Utah. It has 1,500 to 1,600 identified potential drilling locations.

Permian Region

The Permian Region is made up of properties in West Texas and southeastern New Mexico. The Company has expanded its holdings in the area through acquisitions and trades with ChevronTexaco, ExxonMobil, Dominion and others. Fields in this area include Yates, University Block 9, Goldsmith, Russell, Prentice and Cornell. The Company has 1,150 to 1,200 identified potential drilling locations in this area.

South Texas and Gulf Coast Region

The South Texas and Gulf Coast Region includes properties in south Texas, southern Mississippi, Louisiana and Alabama and the Gulf of Mexico. In 2008, the Company expanded its Gulf Coast holdings and entered into the Gulf of Mexico with the acquisition of Hunt Petroleum Corporation. The Company has identified 100 to 150 potential drilling locations in this region.

Others

On July 2008, the Company purchased 152,000 net acres of Marcellus Shale leasehold in western Pennsylvania and West Virginia along with producing properties. In September 2008, in the Hunt Petroleum acquisition, the Company acquired non-operating interests, comprising approximately 300,000 net acres in the North Sea.