A true growth enterprise
Targeting 20% production growth in 2008
A top-ranking owner and producer of domestic natural gas
Fourth largest owner of domestic gas reserves among the independents
Currently producing more than 1.671 Bcfe/d of gas per day
'Top-10' natural gas producer in the U.S.
Highly efficient franchise
One of the lowest 'finding & development' costs in the sector
Five-year all-in reserve replacement of 518%
Strong operating margins yielding strong full-cycle economics
Tremendous upsides
Have identified 7.3 Tcfe of low-risk resource potential to drill
About 5 years of low-risk growth inventory 'in hand'
Low-risk, high-return strategy
Acquire the best 'legacy' properties
Apply rigorous engineering and geologic work, along with pioneering
innovation
Prove-up and develop more reserves and production
Seek project economic returns better than 30%
Financial performance
FirstCall consensus projection of more than $3.8 billion in cash flow
for 2008
Significant oil & gas hedges through 2008
Stock price performance
Appreciation of 5744% from 1993 IPO through January 2008
The IPO stock price of $13 has increased to more than $759 through
January 2008
(when not adjusted for stock splits)
Proven management
Company founder actively manages company
Senior executives together 25+ years
Management owns more than 6% of XTO stock
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