XTO Energy uses existing credit facilities to fund $100 million of acquisitions

By Sara Rosenberg

New York, Oct. 15 - XTO Energy Inc. borrowed funds under its existing credit facilities to complete property transactions that increase its positions in Texas, Arkansas, New Mexico and Colorado for a total cost of $100 million.

"Our acquisition efforts continue to yield tactical assets for XTO's long-term strategy," said Bob R. Simpson, chairman and chief executive officer, in a news release. "We are adding high-quality properties, long-lived with strong margins and low-risk upsides, in our key operating areas. When combined with the largest development inventory in the company's history, the result is an outlook for steady growth."

XTO is a Fort Worth, Tex. domestic natural gas producer.

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