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For Immediate Release
XTO ENERGY ANNOUNCES RECORD PRODUCTION FOR 2Q,
UP 32% FROM LAST YEAR AND 6% SEQUENTIALLY;
INCREASES PRODUCTION GUIDANCE TO 20% FOR 2009
FORT WORTH, TX (August 5, 2009) - XTO Energy Inc. (NYSE-XTO) today reported record second quarter 2009 production of 2.89 billion cubic feet equivalent (Bcfe) per day, up 32% from the second quarter 2008 level of 2.20 Bcfe per day, and up 6% sequentially from 2.73 Bcfe per day in first quarter 2009. Total revenues for the second quarter were $2.27 billion, a 17% increase from $1.94 billion the prior year. Earnings for the quarter were $496 million, or $0.86 per share ($0.85 diluted), compared with second quarter 2008 earnings of $575 million, or $1.12 per share ($1.11 diluted). After adjusting for a $28 million ($18 million after tax) non-cash derivative fair value loss and an $8 million ($5 million after tax) gain on extinguishment of debt, adjusted earnings for second quarter 2009 were $509 million, or $0.88 per share ($0.87 diluted), compared to second quarter 2008 adjusted earnings of $553 million, or $1.08 per share ($1.06 diluted).1
Operating income for the quarter was $898 million, an 11% decrease from second quarter 2008 operating income of $1.01 billion. Operating cash flow was $1.51 billion, up 23% from 2008 second quarter comparable operating cash flow of $1.23 billion.1
The following information was filed by Xto Energy Inc (XTO) on Wednesday, August 5, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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