XTO Energy Inc. has added another 29 MMcf/d to its current production base after completing the acquisition of some coalbed methane (CBM) properties in southwestern Colorado.

The independent bought the properties from J. M. Huber Corp. of Edison, NJ for $153.8 million. Proved reserves are estimated to be 154 Bcf, of which 79% are proved developed producing.

“With the addition of these prolific assets, we are now targeting 15% natural gas production growth for XTO in 2003,” stated Steffen E. Palko, president. “In the longer term, these assets will provide an exciting opportunity to apply technical expertise honed in our other Fruitland Coal projects. From workovers to new wells, we foresee significant potential to increase the recovery of gas in place.”

The acquisition purchase was funded through existing bank lines and should be repaid from operational cash flow during 2003. The final closing price reflects adjustments of net revenue and other items from the Oct. 1, 2002 effective date. XTO, headquartered in Fort Worth, has an asset base concentrated in Texas, Oklahoma, Kansas, New Mexico, Colorado, Arkansas, Wyoming, Alaska and Louisiana.

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