XTO Energy Inc. expects year-end 2006 proved reserves to exceed 8.4 trillion cubic feet of natural gas equivalent (Tcfe).
These reserve volumes imply an all-in finding and development cost for the year, including acquisitions, between $1.65 - $1.80 per thousand cubic feet of gas equivalent (Mcfe).
Based on development and exploration expenditures of about $2.1 billion, the Company further expects its 2006 drill bit finding costs to range between $1.50 - $1.65 per Mcfe. Final proved reserves estimates, as prepared by Miller & Lents, Ltd., will be available by late February.
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