XTO pays $4.19B for energy company
XTO Energy says it is acquiring privately held Hunt Petroleum Corp. for $4.19 billion in cash and stock.
XTO Energy (XTO, Fortune 500) Inc., an oil and gas property developer and producer, says the deal includes $2.6 billion in cash and 23.5 million shares of XTO stock. The stock portion of the deal is valued at about $1.6 billion, or $67.50 per share.
XTO shares closed Monday at $67.72.
Fort Worth, Texas-based XTO estimates Hunt’s properties’ proved reserves total about 1.052 trillion cubic feet of natural gas equivalent.
About 70% of the properties are in East Texas, Central and Northern Louisiana.
The acquisition is expected to close around Sept payday loans cash advance. 3, subject to antitrust clearance.
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