Hedging XTO:
he following table details the Company's current commodity swap transactions:
Looks like roughly a little over a third of their NG production is hedged for September at $10.05 and for the rest of the year 2/3s is hedged at $10.28.
Less than 1/4 is hedged for 2007 at $10.05.
(Assumptions are taken from the quarter ending June 2006.. obviously this will vary some..)
Mcf or Bbls NYMEX Price
per Day per Mcf or Bbl
Natural Gas
Sep 2006 400,000 $10.05
Oct-Dec 2006 800,000 $10.28
Jan-Dec 2007 500,000 $10.05
Oil
Jun-Dec 2006 37,500 $68.37
Jan-Dec 2007 37,500 $74.40
Jan-Dec 2008 22,500 $74.26
Versus recent production:
Quarter Ended June 30 Six Months Ended June 30
2006 2005 Increase 2006 2005 Increase
Total production
Gas (Mcf) 106,888,797 92,725,915 15% 208,229,216 175,677,602 19%
Natural gas liquids (Bbls) 1,065,747 937,783 14% 2,067,079 1,890,357 9%
Oil (Bbls) 4,109,431 3,368,997 22% 8,120,064 6,575,382 23%
Mcfe 137,939,865 118,566,595 16% 269,352,074 226,472,036 19%
Average daily production
Gas (Mcf) 1,174,602 1,018,966 15% 1,150,438 970,594 19%
Natural gas liquids (Bbls) 11,712 10,305 14% 11,420 10,444 9%
Oil (Bbls) 45,159 37,022 22% 44,862 36,328 23%
Mcfe 1,515,823 1,302,930 16% 1,488,133 1,251,227 19%
Average sales price
Gas per Mcf $ 6.99 $ 6.10 15% $ 8.00 $ 5.87 36%
Natural gas liquids per Bbl $ 38.53 $ 30.29 27% $ 36.70 $ 29.70 24%
Oil per Bbl $ 62.25 $ 43.35 44% $ 59.64 $ 42.59 40%
Average NYMEX prices
Gas per MMBtu $ 6.79 $ 6.73 1% $ 7.88 $ 6.50 21%
Oil per Bbl $ 70.66 $ 53.23 33% $ 67.04 $ 51.56 30%
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Bbl - Barrel
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