XTO Energy Record Profits and Comments about Recycling Water in Somervell County, Texas


XTO Energy Record Profits and Comments about Recycling Water in Somervell County, Texas

14 February 2007 at 5:21:07 PM

At the County Commissioner's meeting on Monday, an XTO representative was there to talk about Road use and who's responsible for damage to the roads. Have included a video clip of what he said, which included a bit about the cost of using recycled water to frac wells. After that, I saw an article in the Fort Worth Star Telegram that reads "XTO Record Profit in 2006"

XTO Energy, following a pattern set by other energy producers, reported a drop in fourth-quarter profit because of lower natural gas prices but still earned a record profit for 2006.

The Fort Worth-based natural gas producer saw its fourth-quarter profit decline by 5 percent to $429 million, or $1.17 per share. XTO said natural gas prices during the quarter were 14 percent lower than the record prices of fourth quarter 2005, after Hurricanes Katrina and Rita.

For all of 2006, XTO earned a record $1.86 billion, or $5.10 per share, compared with earnings of $1.15 billion, or $3.21 per share, in 2005. Natural gas production rose by 15 percent during 2006, to 1.19 billion cubic feet a day.

"As we move ahead, the long-term outlook for strong performance is better than ever. We own a robust drilling inventory in excess of 100 percent of booked reserves," XTO Chairman Bob R. Simpson said.

Now, when you watch the following video clip in which the XTO representative fusses about recycling water, keep that info right above this in mind. (Also notice his comments about what he views his company's responsibility to be regarding repair of roads.Agree???)

VIDEO on CanOFun

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