Accelerating its astonishing spending spree in 2008, XTO Energy Inc. Tuesday announced its fifth-and largest-acquisition of the year with the $4.18 billion purchase of Hunt Petroleum Corp. and said it planned to increase its production by 50 percent over 2007 levels by the end of 2009. XTO said the Hunt buy would increase its proved reserves by more than 1.05 trillion cubic feet of natural gas equivalent (tcfe), with much of that low-hanging fruit for the Fort Worth, Texas-based producer because it is located in an area where XTO already has substantial drilling infrastructure and expertise in place.rnIn particular, 70 percent of the properties being acquired from Hunt are located in eastern Texas and central and northern Louisiana, a region where XTO already is the leading natural gas producer. Another 28 percent of the reserves are located onshore and offshore along the Gulf Coast of Texas, Louisiana, Mississippi and Alabama.
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