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
Famous quotes containing the word history:
“The history of modern art is also the history of the progressive loss of art’s audience. Art has increasingly become the concern of the artist and the bafflement of the public.”
—Henry Geldzahler (1935–1994)
“The history of his present majesty, is a history of unremitting injuries and usurpations ... all of which have in direct object the establishment of an absolute tyranny over these states. To prove this, let facts be submitted to a candid world, for the truth of which we pledge a faith yet unsullied by falsehood.”
—Thomas Jefferson (1743–1826)
“It is true that this man was nothing but an elemental force in motion, directed and rendered more effective by extreme cunning and by a relentless tactical clairvoyance .... Hitler was history in its purest form.”
—Albert Camus (1913–1960)