XTO Energy files $600 mln debt, pfd, stock shelf

New York, Oct. 17 - XTO Energy Inc. filed a shelf registration for up to $600 million of debt securities, preferred stock, common stock and warrants with the Securities and Exchange Commission Wednesday. The filing includes common stock or preferred stock that may be issued on conversion of the debt securities or preferred stock.

The $600 million is made up of a $590 million primary offering and a $10 million secondary offering of stock. Of the total $99.375 million of securities previously registered but unsold by the predecessor company Cross Timbers Oil Co. is carried forward.

XTO, a Fort Worth, Texas, oil and gas company, said it would use proceeds for general corporate purposes, including working capital, repayment or reduction of debt, capital expenditures, acquisitions of additional oil and natural gas properties and repurchases and redemptions of securities.

For the six months ended June 30, 2001, XTO had an earning to fixed charge ratio of 8.1:1 compared to 2.8:1 for all of 2000.

End

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.