September 29, 2016 9:32 AM ET

Oil, Gas and Consumable Fuels

Company Overview of XTO Energy Inc.

Company Overview

XTO Energy Inc. extracts natural gas from the U.S. shale and other tight formations. It also produces crude oil and natural gas liquids in the United States. The company owns interests in various oil and natural gas wells in the United States. XTO Energy Inc. was formerly known as Cross Timbers Oil Company and changed its name to XTO Energy Inc. in June 2001. The company was founded in 1986 and is headquartered in Fort Worth, Texas. As of June 25, 2010, XTO Energy Inc. operates as a subsidiary of Exxon Mobil Corporation.

810 Houston Street

Suite 2000

Fort Worth, TX 76102-6298

United States

Founded in 1986

3,335 Employees

Phone:

817-870-2800

Fax:

817-870-1671

Key Executives for XTO Energy Inc.

Chief Executive Officer and Director
Age: 57
President and Director
Age: 61
Co-Founder, Chairman and Chairman of Executive Committee
Age: 67
Chief Financial Officer, Executive Vice President and Advisory Director
Age: 66
Vice President of Operations at Houston Division
Compensation as of Fiscal Year 2016.

XTO Energy Inc. Key Developments

XTO Energy to Pay $400,000 Enter Disposition Program as Part of Settlement with Office of Attorney General

Attorney General Kathleen G. Kane's office announced it has reached a settlement agreement with a subsidiary of Exxon Mobil Corp. to resolve allegations the subsidiary illegally discharged toxic waste from a Marcellus Shale gas well site in Penn Township, Lycoming County. The settlement calls for XTO Energy Inc. to enter the accelerated rehabilitative disposition program, which will require compliance with regulatory standards that far exceed current industry practices. XTO also will be required to pay a $300,000 civil penalty to the state Department of Environmental Protection and $100,000 to the Susquehanna Greenway Partnership for the purpose of advancing environmental projects in the Lycoming County area, according to the settlement, which has received court approval. The settlement calls for XTO to maintain compliance with a federal consent decree that it reached in 2013 with the U.S Environmental Protection Agency and the U.S. Department of Justice. The consent decree called for several reforms, including the requirement that XTO spend an estimated $20 million on a plan to reform its wastewater management practices.

Pate Ranch Owners Sue XTO Energy over Pipeline

Pate Ranch development southwest of Fort Worth along the Chisholm Trail Parkway are suing XTO Energy for putting a natural gas pipeline without making the required compensation. Pate Ranch Land L.P., states in a lawsuit filed in Tarrant County civil court that XTO, which got a state permit for the gathering system in 2013, neglected to condemn the land through eminent domain proceedings as required by law. XTO Energy built a 6.6-inch pipeline on the property as well as structures that include a compressor station. The land is south of Altamesa Boulevard and Dirks Road with the western boundary at Chisholm Trail Parkway. Albert speculated that ultimately XTO may be on the hook for 'meaningful, seven-digit compensation'. Provident Realty bought the land from 13 trusts tied to the late A.M. Pate Jr., according to Tarrant County deed records. It completed the purchase on October 30, 2015, the lawsuit and deed records show. In documents filed with the city of Fort Worth, the developers plan to use about 238 acres for single-family homes, 136 acres for mixed-use development and 93 acres for commercial. But in the lawsuit the owners say the presence of the gathering system will impact its use of the property. It announced XTO took the property through what is known as ‘inverse condemnation,’ which failed to provide the required compensation. Albert announced XTO is well versed in what is required before taking land for a pipeline, so the owners were surprised that no money had exchanged hands.

XTO Energy's Executives Reportedly Negotiate Possible Purchases

Executives with XTO Energy Inc. are meeting with small, closely held producers in the Permian Basin to negotiate possible purchases and joint ventures, according to three people familiar with the talks.

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