History
The company was founded in 1985 as Cross Timbers Oil Company. It changed its name in 2001.
In 2007, it paid Dominion Resources US$2.5 billion for 1 trillion cubic feet (28×109 m3) of oil and gas reserves in the Rocky Mountains, Texas and southern Louisiana,
In 2008 XTO acquired Hunt Petroleum Corporation for $4.2 billion. At the end of the second quarter of 2009 XTO Energy became the largest producer of natural gas in the United States.
In 2009, XTO entered into an agreement with ExxonMobil to be acquired for $31 billion in stock. The deal was approved by XTO's shareholders on June 25, 2010. As a subsidiary of ExxonMobil, the company will be named XTO Energy Incorporated and it will focus on global development and production of unconventional resources.
Read more about this topic: XTO Energy
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