XTO Energy

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American energy company, principally operating in North America

title: "XTO Energy" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["oil-companies-of-the-united-states", "companies-based-in-fort-worth,-texas", "natural-gas-companies-of-the-united-states", "exxonmobil-subsidiaries", "2010-mergers-and-acquisitions", "companies-formerly-listed-on-the-new-york-stock-exchange"] description: "American energy company, principally operating in North America" topic_path: "geography/united-states" source: "https://en.wikipedia.org/wiki/XTO_Energy" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary American energy company, principally operating in North America ::

::data[format=table title="Infobox company"]

FieldValue
nameXTO Energy Inc.
logoXTO-Energy-Logo.svg
logo_size200
former_nameCross Timbers Oil Company
typeSubsidiary
industryPetroleum industry
foundation
founderBob R. Simpson, Steve Palko, Jon Brumley
location_citySpring, Texas
location_countryUnited States
locationsArkansas, Colorado, Kansas, Louisiana, Montana, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, West Virginia, Wyoming, Western Canada, Neuquen
key_peopleStaale Gjervik
(president)
productsPetroleum
Natural gas
parentExxonMobil
homepage
::

| name = XTO Energy Inc. | logo = XTO-Energy-Logo.svg | logo_size = 200 | former_name = Cross Timbers Oil Company | type = Subsidiary | industry = Petroleum industry | foundation = | founder = Bob R. Simpson, Steve Palko, Jon Brumley | location_city = Spring, Texas | location_country = United States | locations = Arkansas, Colorado, Kansas, Louisiana, Montana, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, West Virginia, Wyoming, Western Canada, Neuquen | area_served = | key_people = Staale Gjervik (president) | products = Petroleum Natural gas | parent = ExxonMobil | homepage = XTO Energy Inc. is an American energy company and subsidiary of ExxonMobil principally operating in North America. Acquired by ExxonMobil in 2010 and based out of Spring, Texas, it is involved with the production, processing, transportation, and development of oil and natural gas resources. The company specializes in developing shale gas via unconventional means like hydraulic fracturing and horizontal drilling.

ExxonMobil's acquisition of XTO made it the largest producer of natural gas in the U.S. Since then, XTO Energy's resource portfolio has tripled through several acquisitions. The company owns interests in approximately 40,000 active oil and natural gas sites across North America, with locations in Arkansas, Colorado, Kansas, Louisiana, Montana, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, West Virginia, Wyoming and Western Canada.

History

Early history

XTO Energy was founded in 1986, and was initially called Cross Timbers Oil Company. Initially, the company purchased and developed long-lived oil and gas production properties. The company went public in 1993.

In 1996, Bob R. Simpson, one of the company's founders, became chairman and chief executive officer. Simpson received his undergraduate and master's degrees in finance from Baylor University. to reflect the company's new focus on natural gas rather than oil.

ExxonMobil purchase

On December 14, 2009, ExxonMobil agreed to acquire XTO Energy Inc. through a merger. ExxonMobil acquired XTO Energy in a deal valued at $36 billion, involving the issuance of 416 million shares of stock and assuming the company's $11 billion in debt. The deal increased ExxonMobil's U.S. natural gas production to 3.68 billion cubic feet per day, making it the largest producer in the U.S. The purchase by ExxonMobil was the largest by the company since the deal that created ExxonMobil in 1999. The acquisition was finalized in June 2010.

2011 - present

In June 2011, ExxonMobil acquired two natural gas companies in Pennsylvania—Phillips Resources Inc. and TWP Inc.—for $1.69 billion.

In September 2012, ExxonMobil and XTO Energy signed a land exchange agreement with Denbury Onshore LLC, acquiring 196,000 acres in the Bakken Shale in North Dakota and Montana. In exchange for the acreage, Denbury Onshore received $1.6 billion in cash and operating interests in the Hartzog Draw Field in Wyoming and the Webster Field in Texas.

During 2013, XTO Energy expanded its production in the Appalachian region of the U.S. by nearly 30%.

In February 2014, XTO Energy agreed to let American Energy–Utica LLC buy into 30,000 acres of its holdings in the Utica Shale located in the Harrison, Jefferson and Belmont counties of Ohio.

, the size of XTO Energy's resource portfolio had tripled since it was acquired by ExxonMobil in 2010.

In August 2015, Exxon Mobil Corporation signed two agreements to drill on 48,000 acres in the core of the Midland Basin to be operated by XTO Energy. XTO operates 11 horizontal and four vertical rigs across 1.5 million net acres in Texas' Permian Basin.

Grants to petroleum educational institutions

In 2008, XTO Energy began supporting Navarro College's petroleum technology certificate program. Since 2009, XTO Energy has partnered with Habitat for Humanity to build homes in Fort Worth. In 2010, XTO Energy and ExxonMobil gave a $5 million grant to Colorado State University to fund studies on the impact of oil and gas drilling on wildlife. The grant resulted in 20 research projects.

In April 2013, XTO Energy gave $100,000 to Butler County Community College. The funds helped establish a petroleum technology training center.

In April 2014, XTO Energy donated $25,000 in the form of grants to Westmoreland County Community College in Pittsburgh to help students enrolled in the Petroleum Industrial Processing Operations Technology program offset tuition and travel costs, as well as purchase equipment for the school. Also in 2014, XTO Energy donated 21 historic Navajo blankets to the Farmington Museum in New Mexico; the blankets were valued at $175,000.

In 2015, XTO contributed $5 million to the North Dakota Housing Incentive Fund, supporting the construction of low-cost apartments for teachers and emergency personnel. The donation was the largest since the fund was established in 2011.

Regulatory issues

In July 2013, XTO agreed with the U.S. Environmental Protection Agency to pay a $100,000 fine for a November 2010 water spill at a Pennsylvania water recycling operation. In September 2013, the Pennsylvania Attorney General filed criminal charges against XTO, stemming from this incident.

In October 2013, the federal Office of Natural Resources Revenue issued a $648,000 civil penalty against XTO for not providing data regarding a federal lease in Kansas. XTO has stated that it did provide the required records, but that the process was time-consuming. As of 2013, XTO Energy had requested a hearing on the matter.

In April 2015, a study published by researchers at Southern Methodist University (SMU) in Dallas allegedly connected two XTO-operated wastewater disposal wells with a series of earthquakes in Azle, Texas, occurring in 2013. In August 2015, preliminary findings by investigators with the Texas Railroad Commission found a disposal well operated near Azle by XTO Energy was unlikely to have caused the seismic activity, which contradicted the SMU study. In November 2015, the final decision by the Texas Railroad Commission unanimously agreed with hearing examiners that there was not enough evidence to support findings that the wells contributed to seismic activity and that XTO should be able to maintain its permit for the wells.

References

References

  1. "Exxon Mobil Corp (XOM)". Reuters.
  2. "XTO Energy Inc. Company Profile". [[Hoover's]].
  3. Pat King. (26 August 2003). "XTO Energy Brings Old Oil, Gas Wells in Alaska Back to Life". AK Oil & Gas Reporter.
  4. Joe Carroll. (9 June 2011). "Exxon Expands U.S. Gas Reserves With $1.7 Billion Purchase". Bloomberg.com.
  5. (17 October 2012). "Exxon expands into Canadian shale with bid for Celtic". [[The Globe and Mail]].
  6. Brian O'Keefe. (16 April 2012). "Exxon's big bet on shale gas". [[Fortune (magazine).
  7. "XTO Operating Areas". XTO Energy.
  8. (17 October 2012). "Exxon to Buy Celtic Exploration for $2.92 Billion". Bloomberg.com.
  9. (21 May 2014). "XTO, Linn swap Hugoton, Wolfcamp acreage". [[Oil & Gas Journal]].
  10. Shashana Pearson-Hormillosa. (28 June 2009). "Facetime with XTO Energy's Bob Simpson". [[Dallas Business Journal]].
  11. Amy Reeves. (27 March 2001). "CROSS TIMBERS OIL CO. /Fort Worth, Texas 'Discount' Energy Firm Keeps On Drilling Away". [[Investor's Business Daily]].
  12. Dan Piller. (26 April 2002). "Natural-Gas Production Hike Aids XTO Energy's Profits". [[Fort Worth Star-Telegram]].
  13. "XTO Energy". Bloomberg.com.
  14. Dan Piller. (16 May 2001). "Fort Worth, Texas-Based Cross Timbers Oil Changes Name to XTO Energy". [[Fort Worth Star-Telegram]].
  15. Matthew Boyle. (2 September 2002). "Fortune's 100 Fastest Growing Who made this year's list? A few familiar faces. And lots of newcomers". [[Fortune (magazine).
  16. (17 December 2009). "Unconventional". [[The Economist]].
  17. (31 December 2010). "Form 10-K Exxon Mobil Corporation". [[U.S. Securities and Exchange Commission]].
  18. (24 June 2014). "ExxonMobil Opens at Lifetime High, Holding onto Gas Opportunities from 2010 XTO Merger". Oil & Gas 360.
  19. Barbara Shook. (21 December 2009). "Exxon global unconventional gas assets mesh with XTO properties". Natural Gas Week.
  20. Russel Gold. (15 December 2009). "Exxon Bets Big on Gas With Deal For XTO". [[The Wall Street Journal]].
  21. Elizabeth Souder. (17 October 2012). "Exxon buying Canada's Celtic Exploration oil shale company for $2.6 billion". [[The Dallas Morning News]].
  22. (7 September 2011). "Exxon the M&A powerhouse". Energy Intelligence Finance.
  23. (20 September 2012). "Denbury Swaps Bakken Shale Acreage with ExxonMobil for CO2 Resources". Oil & Gas Financial Journal.
  24. (3 February 2014). "ExxonMobil expands Permian acreage, enters Utica agreement". [[Oil & Gas Journal]].
  25. (4 February 2014). "XTO Energy continues aggressive U.S. shale expansion with new deals". Petro Global News.
  26. Robert Grattan. (6 August 2015). "Exxon secures more Permian Basin fields". FuelFix.
  27. Anna Driver. (6 August 2015). "Exxon's planned expansion in Texas points to pickup in energy deals". Reuters.
  28. Thornton Hustler. (11 February 2010). "Oil and gas companies contribute toward new facility at Navarro College". Groesbeck Journal Today.
  29. (11 September 2013). "XTO Energy Builds 5th Annual Trinity Habitat For Humanity Home At Sundance Square". Downtown Fort Worth.
  30. Ryan Maye Handy. (5 February 2014). "ExxonMobil gives CSU $5M research grant". [[Fort Collins Coloradoan]].
  31. Joshua Zaffos. (January 22, 2013). "Oil and gas companies pour money into research universities". [[High Country News]].
  32. Harry Funk. (9 May 2014). "XTO embraces good-neighbor policy with Butler". Pittsburgh Business Times.
  33. (22 October 2013). "ExxonMobil Contributes to Colorado Preparedness and Relief Effort". American Red Cross.
  34. Justine Coyne. (25 April 2014). "WCCC receives $25K from XTO Energy". [[Pittsburgh Business Times]].
  35. Joshua Kellogg. (19 June 2014). "Farmington Museum receives 21 historic Navajo blankets". The Daily Times.
  36. Ernest Scheyder. (27 July 2015). "Exxon Mobil donates $5 mln to North Dakota housing fund". Reuters.
  37. Mica Rosenberg. (18 July 2013). "XTO Energy agrees to pay $100,000 fine for fracking spill". [[Fox Business Network]].
  38. Lance Murray. (12 September 2013). "XTO faces criminal charges in Pennsylvania wastewater case". [[Dallas Business Journal]].
  39. Jim Fuquay. (22 October 2013). "XTO Energy hit with $648,000 fine from federal agency". Star-Telegram.com.
  40. Matthew J. Hornbach & co. (21 April 2015). "Causal factors for seismicity near Azle, Texas". nature publishing group.
  41. James Osborne. (31 August 2015). "Railroad Commission: XTO not to blame for Azle earthquakes". The Dallas Morning News.
  42. Max B. Baker. (3 November 2015). "Texas: Azle earthquakes aren't due to injection wells". Fort Worth Star-Telegram.
  43. Jim Malewitz. (3 November 2015). "On Quakes, Regulator Sides with Energy Companies". Texas Tribune.
  44. Anon. (3 November 2015). "Texas regulator maintains gas company permits despite quakes". Fuel Fix Blog.

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oil-companies-of-the-united-statescompanies-based-in-fort-worth,-texasnatural-gas-companies-of-the-united-statesexxonmobil-subsidiaries2010-mergers-and-acquisitionscompanies-formerly-listed-on-the-new-york-stock-exchange