Fort

Fort Worth-based XTO Energy Inc.’s proven oil and natural gas reserves shot up 40% year-over-year in 2004, to a record 5.86 Tcfe from 4.185 Tcfe in 2003. XTO said it added 2.047 Tcfe at a cost of $1.26/Mcfe, replacing 551% of production in 2004.

Fort Worth-based XTO Energy Inc.’s proven oil and natural gas reserves shot up 40% year-over-year in 2004, to a record 5.86 Tcfe from 4.185 Tcfe in 2003. XTO said it added 2.047 Tcfe at a cost of $1.26/Mcfe, replacing 551% of production in 2004.

Lawrence G. Rawl, 76, former chairman and CEO of Exxon Corp., died on Sunday in Fort Worth. Current ExxonMobil CEO Lee Raymond said that Rawl “was a strong leader for our company and the petroleum industry and a true friend. We all mourn his passing and express our deepest sympathy to his family for their loss.” Born in 1928 in New Jersey, Rawl enlisted and served in the U.S. Marine Corps at the end of World War II. Following his military service, Rawl entered the University of Oklahoma and received a degree in petroleum engineering. He immediately joined Humble Oil & Refining Co., Exxon’s predecessor company. In 1980, he joined Exxon Corp. and was elected chairman in 1987. He held the top posts until his retirement in May 1993.

XTO Energy Inc.’s second quarter natural gas production hit a record 803 MMcf/d, a 27% increase from 2Q2003’s 631 MMcf/d, the company reported Tuesday. The Fort Worth-based producer’s oil production was up 38%, also a record, to stand at 17,682 bbl/d, while natural gas liquids output was up 17% over a year ago to 7,463 bbl/d.

Fort Worth-based independent XTO Energy Inc. last week marked the largest acquisition in its history by purchasing $1.1 billion of oil and gas properties from ChevronTexaco Corp. XTO gains approximately 88 MMcf/d of natural gas and 14,000 bbl of oil from properties in seven states — more than 90% in Texas and New Mexico.

Fort Worth-based independent XTO Energy Inc. marked the largest acquisition in its history on Monday with the purchase of 150 onshore producing assets for $1.1 billion from ChevronTexaco Corp. The company will add about 88 MMcf/d of natural gas and 14,000 bbl of oil from properties in seven states — more than 90% in Texas and New Mexico.

Fort Worth-based XTO Energy Inc. on Tuesday reported that its year-end 2003 estimated proved oil and gas reserves rose to a record 4.185 Tcfe, up 24% from 2002’s year-end total of 3.372 Tcfe. Carrizo Oil & Gas Inc., headquartered in Houston, also reported year-end proved reserves were a record 70.4 Bcfe, up 11% over year-end 2002’s 63.2 Bcfe.

Fort Worth-based Quicksilver Resources Inc. moved forward with its Canadian coalbed methane (CBM) program in 2003, ending the year averaging 5.7 MMcf/d, with year-end production from its CBM wells at 16 MMcf/d. For all of its projects, full-year gas production totaled 34.5 Bcf, while production in the fourth quarter was 9.3 Bcf, up from 8.6 Bcf in 4Q2002. Natural gas, including natural gas liquids, comprised 89% of the company’s total production in the fourth quarter of 2003. Through its Canadian subsidiary, MGV Energy Inc., an $89 million capital budget for development and exploration is planned in 2004. Most of this budget will target CBM development while continuing exploration and piloting efforts in new areas. MGV presently holds leases and drilling rights on more than 525,000 net acres in Canada. Fourth quarter net income was $5.8 million on revenues of $36.8 million, or $0.23/share, compared with 4Q2002 net income of $4.3 million ($0.21/share) on revenues of $31.8 million. Net cash from operating activities for the fourth quarter of 2003 was $21.4 million versus $20.2 million for the fourth quarter of 2002.

Fort Worth-based XTO Energy Inc. on Tuesday reported that its year-end 2003 estimated proved oil and gas reserves rose to a record 4.185 Tcfe, up 24% from 2002’s year-end total of 3.372 Tcfe. Carrizo Oil & Gas Inc., headquartered in Houston, also reported year-end proved reserves were a record 70.4 Bcfe, up 11% over year-end 2002’s 63.2 Bcfe.