XTO Energy Inc., Fort Worth, Texas, (NYSE: XTO) plans to purchase privately held Peak Energy Resources Inc., a Barnett Shale producer, for equity consideration of 2.555 million shares of XTO common stock, valued at approximately $105 million. This acquisition increases XTO's reserves and leasehold acreage in the Hood, Parker and eastern Erath counties of Texas. XTO estimate proved reserves to be 64 billion cubic feet (Bcf) of gas, 14% of which are proved developed. Additional potential is more than 200 Bcf of gas. Proved reserve estimates are based on the ownership of about 37,000 gross acres with new well locations spaced at 100 acres.
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