Privately

XTO Energy Inc. has completed its $4.2 billion acquisition of privately held Hunt Petroleum Corp. and has updated its natural gas and oil hedges through 2010. Hunt, which agreed to the transaction in June (see NGI, June 16), sold XTO total estimated proved reserves of 1.05 Tcfe, 62% proved developed. Production was estimated at 197 MMcf/d of gas, 8,500 b/d of oil and 2,300 b/d of natural gas liquids. XTO paid Hunt $2.6 billion in cash and provided about 23.5 million shares of XTO common stock. About 70% of the acquired properties are in East Texas and in central and northern Louisiana where XTO has stepped up its exploration activities. Another 28% of the reserves, both onshore and offshore, are along the Gulf Coast of Texas, Louisiana, Mississippi and Alabama. Nonoperating interests, reflecting more than 300,000 net acres of potential in the North Sea and the balance of proved reserves, also were conveyed in the deal. In addition, XTO gained about 15,000 net acres of leasehold in the Bakken Shale region of North Dakota. In conjunction with the transaction XTO added gas and oil hedges through 2010. For gas XTO hedged through December 1.45 Bcf/d at $8.79/Mcf.; total gas equivalent hedged through December is 1.75 Bcfe/d at $10.06/Mcfe. XTO hedged 1.185 Bcf/d at $9.59/Mcf for 2009; total gas equivalent hedged is 1.515 Bcfe/d at $11.97/Mcfe. And for 2010 XTO hedged 300 MMcf/d at $9.50/Mcf; total gas equivalent hedged is 450 MMcfe/d at $13.57/Mcfe.

XTO Energy Inc. has completed its $4.2 billion acquisition of privately held Hunt Petroleum Corp. and has updated its natural gas and oil hedges through 2010.

Forest Oil Corp. has agreed to pay $892 million in cash and stock to privately held Cordillera Texas LP for a package of natural gas-weighted properties in Oklahoma, East Texas and North Louisiana that now produce around 34 MMcfe/d. Total reserves are estimated at 350 Bcfe, which are 36% proved developed.

Williams is buying interests in the Barnett Shale of North Texas for $166 million in cash from privately held Aspect Abundant Shale LP and other parties, the company said last Monday. Closing is expected in September.

Williams is buying interests in the Barnett Shale of North Texas for $166 million in cash from privately held Aspect Abundant Shale LP and other parties, the company said Monday. Closing is expected in September.

Oklahoma City-based Quest Resource Corp. (QRCP) has completed its purchase of privately held PetroEdge Resources for $142 million, which will give it 78,000 net acres of Appalachian Basin acreage with estimated proved reserves of 99.6 Bcfe. PetroEdge’s current net production was around 3.2 MMcfe/d.

MDU Resources Group Inc. has agreed to acquire Intermountain Gas Co. from privately held Intermountain Industries Inc. in a cash-for-stock transaction. The acquisition grows MDU’s utility customer base to more than 900,000.

MDU Resources Group Inc. has agreed to acquire Intermountain Gas Co. from privately held Intermountain Industries Inc. in a cash-for-stock transaction. The acquisition grows MDU’s utility customer base to more than 900,000.

Dejour Enterprises Ltd. and investment partner Brownstone Ventures have acquired 64,000 net acres of oil and gas leasehold in Colorado and Utah from privately held Retamco Operating Inc. The transaction gives the partners operational control of 128,000 acres in the Rocky Mountains. Dejour, an exploration and production company based in Vancouver, BC, would hold a 71% stake in the leasehold. Brownstone, a Canadian-based energy investment firm, would hold the remaining interest. Overall, the companies would have around 289,000 gross acres of leasehold properties in Colorado and Utah. The additional acreage was acquired in exchange for Dejour’s and Brownstone’s working interest in roughly 3,500 acres and two wells at North Barcus Creek and a cash payment. The North Barcus Creek wells were drilled on joint acreage held by Retamco at the end of 2007 and are awaiting production tie-in, Dejour stated. The transaction, said Dejour, completes its first step in a strategy to develop a “major operating presence” in several of the most promising producing basins in the Rockies. In the next two years the producer plans to drill and complete “at least” 10 exploration wells in the Piceance Basin. Based on its exploration results, it may move to full resource development.