Fort Worth, TX-based XTO Energy Inc. has completed its acquisition of producing properties from Headington Oil Co. for $1.05 billion in cash and 11.7 million shares of XTO common stock for total consideration of $1.8 billion. The purchase includes 352,000 net acres of Bakken Shale leasehold in Montana and North Dakota. In addition, XTO agreed in separate transactions with undisclosed parties to acquire another 100,000 net undeveloped acres in the play and 400 boe/d of production for $115 million. “With these deals XTO now becomes a leading operator in perhaps the largest oil resource play in the nation, with more than 450,000 net acres,” said President Keith A. Hutton. “Given the opportunities in the Bakken through horizontal drilling, multiple stimulations and enhanced recovery, we anticipate the potential for even more.”

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