Loews Corp., New York, (NYSE: LTR) and XTO Energy Inc., Fort Worth, Texas, (NYSE: XTO) plan to acquire most of the U.S. onshore E&P operations of Dominion Resources Inc., Richmond, Va., (NYSE: D) in two deals valued at a total $6.5 billion. Loews will acquire Dominion's operations in the Permian Basin in Texas, the Antrim Shale in Michigan and the Black Warrior Basin in Alabama for $4 billion. Proved reserves are approximately 2.5 trillion cubic feet of gas equivalent. XTO will acquire 542,000 net acres (235,000 undeveloped) of Dominion's operations in the Rockies, Gulf Coast, San Juan Basin and South Louisiana (70% operated) for $2.5 billion. Production is 200 million cubic feet equivalent per day. Proved reserves are 1.1 trillion cubic feet equivalent.
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