Selected Highlights
2007 |
2006 |
2005 |
2004 |
2003 |
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FINANCIAL (in millions, |
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| Total revenues | $ | 5,513 | $ | 4,576 | $ | 3,519 | $ | 1,948 | $ | 1,189 |
| Operating income | $ | 2,892 | $ | 2,672 | $ | 1,963 | $ | 919 | $ | 502 |
| Net income | $ | 1,691(a) | $ | 1,860(b) | $ | 1,152(c) | $ | 508(d) | $ | 288(e) |
| Earnings per common share(f) | ||||||||||
| Basic | $ | 3.58 | $ | 4.08 | $ | 2.57 | $ | 1.22 | $ | 0.77(g) |
| Diluted | $ | 3.53 | $ | 4.02 | $ | 2.52 | $ | 1.21 | $ | 0.76(g) |
| Operating cash flow(h) | $ | 3,742 | $ | 3,078 | $ | 2,276 | $ | 1,286 | $ | 792 |
| Total assets | $ | 18,922 | $ | 12,885 | $ | 9,857 | $ | 6,110 | $ | 3,611 |
| Long-term debt | $ | 6,320 | $ | 3,451 | $ | 3,109 | $ | 2,043 | $ | 1,252 |
| Total stockholders’ equity | $ | 7,941 | $ | 5,865 | $ | 4,209 | $ | 2,599 | $ | 1,466 |
| Common shares outstanding at year-end(f) | 485.3 | 459.4 | 454.5 | 434.0 | 390.4 | |||||
PRODUCTION (in thousands, |
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| Average daily production | ||||||||||
| Gas (Mcf) | 1,457.8 | 1,186.3 | 1,033.1 | 834.6 | 668.4 | |||||
| Natural gas liquids (Bbl) | 13.5 | 11.9 | 10.4 | 7.5 | 6.5 | |||||
| Oil (Bbl) | 47.1 | 45.0 | 39.1 | 22.7 | 12.9 | |||||
| Mcfe | 1,821.4 | 1,527.7 | 1,330.1 | 1,015.7 | 784.9 | |||||
| Average sales price | ||||||||||
| Gas (per Mcf) | $ | 7.50 | $ | 7.69 | $ | 7.04 | $ | 5.04 | $ | 4.07 |
| Natural gas liquids (per Bbl) | $ | 45.37 | $ | 37.03 | $ | 34.10 | $ | 26.44 | $ | 19.99 |
| Oil (per Bbl) | $ | 70.08 | $ | 60.96 | $ | 47.03 | $ | 38.38 | $ | 28.59 |
PROVED RESERVES (in millions) |
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| Gas (Mcf) | 9,441.1 | 6,944.2 | 6,085.6 | 4,714.5 | 3,644.2 | |||||
| Natural gas liquids (Bbl) | 66.8 | 53.0 | 47.4 | 38.5 | 34.7 | |||||
| Oil (Bbl) | 241.2 | 214.4 | 208.7 | 152.5 | 55.4 | |||||
| Mcfe | 11,289.0 | 8,548.6 | 7,622.2 | 5,860.3 | 4,184.9 | |||||
STOCK PRICES(f) |
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| High | $ | 53.66 | $ | 40.48 | $ | 36.13 | $ | 20.97 | $ | 13.46 |
| Low | $ | 35.48 | $ | 29.58 | $ | 18.42 | $ | 12.01 | $ | 8.02 |
| Close | $ | 51.36 | $ | 37.64 | $ | 33.80 | $ | 20.41 | $ | 13.06 |
| Cash dividends per share | $ | 0.408 | $ | 0.252(i) | $ | 0.180 | $ | 0.072 | $ | 0.019(j) |
| Average daily trading volume (in thousands) | 4,730 | 4,758 | 4,503 | 3,295 | 2,396 | |||||
a) Includes pre-tax effects of a $43 million non-cash derivative fair value loss. b) Includes pre-tax effects of a gain on the distribution of Hugoton Royalty Trust units of $469 million, income tax expense related to enactment of a new State of Texas margin tax of $34 million and a $39 million non-cash derivative fair value gain. c) Includes pre-tax effects of a $39 million non-cash derivative fair value gain, non-cash performance award compensation of $34 million, and a gain of $10 million on the exchange of producing properties. d) Includes pre-tax effects of a $6 million non-cash derivative fair value loss, stock-based incentive compensation of $89 million and special bonuses totaling $12 million related to the ChevronTexaco and ExxonMobil acquisitions. Stock-based incentive compensation includes cash compensation of $22 million related to cash-equivalent performance shares. e) Includes pre-tax effects of a $10 million non-cash derivative fair value loss, a non-cash contingency gain of $2 million, non-cash performance award compensation of $53 million, a $10 million loss on extinguishment of debt, a $16 million non-cash gain on the distribution of Cross Timbers Royalty Trust units, and a $2 million after-tax gain on adoption of the accounting standard for asset retirement obligation. f) Adjusted for the four-for-three stock split effected on March 18, 2003, the five-for-four stock split effected on March 17, 2004, the four-for-three stock split effected on March 15, 2005 and the five-for-four stock split effected on December 13, 2007. g) Before cumulative effect of accounting change, earnings per share were $0.76 basic and $0.75 diluted. h) Defined as cash provided by operating activities before changes in operating assets and liabilities and exploration expense and significant cash flow effects of unusual and infrequently occurring items. See Non-GAAP Measures on page 80. i) Excludes the May 2006 distribution of all of the Hugoton Royalty Trust units owned by the Company to its stockholders as a dividend with a market value of approximately $1.35 per common share. j) Excludes the September 2003 distribution of all of the Cross Timbers Royalty Trust units owned by the Company to its stockholders as a dividend with a market value of approximately $0.07 per common share. |
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The following graph compares the cumulative 5-year total return to shareholders on XTO Energy Inc.’s common stock relative to the cumulative 5-year total returns of the S&P 500 Index and the Dow Jones US Exploration & Production Index from December 31, 2002 through December 31, 2007. The graph assumes that the value of the investment in the company’s common stock and in each of the indexes was $100 on 12/31/2002 and that all dividends were reinvested.
The following table sets forth quarterly high and low closing prices for each quarter of 2007 and 2006, as adjusted for the effect of the five-for-four stock split effected in December 2007 and the May 2006 distribution of Hugoton Royalty Trust units.
XTO ENERGY - NYSE |
High |
Low |
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Year ended december 31, 2007 |
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| First quarter | $ | 44.46 | $ | 35.48 |
| Second quarter | 50.82 | 43.42 | ||
| Third quarter | 50.37 | 41.98 | ||
| Fourth quarter | 53.66 | 48.50 | ||
Year ended december 31, 2006 |
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| First quarter | $ | 38.04 | $ | 30.80 |
| Second quarter | 36.91 | 29.58 | ||
| Third quarter | 38.68 | 31.52 | ||
| Fourth quarter | 40.48 | 32.00 | ||