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FORT WORTH, Texas, Nov. 20 /PRNewswire-FirstCall/ -- XTO Energy Inc.
(NYSE: XTO) announced today the promotion of Keith A. Hutton to Chief
Executive Officer of the Company from his position as President. Bob R.
Simpson, a founder of the Company in 1986 and Chief Executive Officer since
1993, will continue in his dedicated and active leadership role as the
Chairman of the Board and Founder of XTO Energy. Vaughn O. Vennerberg II,
Senior Executive Vice President and Chief of Staff, has been promoted to
President of the Company. These promotions take effect on December 1, 2008.
"We are proud to announce the promotion of these exceptionally talented,
committed and accomplished men to their new executive positions at XTO. This
action by our Board officially recognizes the contributions that Keith and
Vaughn have made over the past decades, and will make in the future, to the
success of XTO Energy," stated Bob R. Simpson, Chairman and Founder. "Going
forward, my efforts will remain focused and dedicated to XTO. Our team leads
the Company into an era of drill-bit growth unlike any before. Our prolific
property base, significantly strengthened by the record acquisitions of 2008,
provide visibility for growth and economic strength for years to come. We, as
an executive team, will forge ahead together building XTO and creating value
for all of us shareholders."
Mr. Hutton, 49, a native Texan and graduate of Texas A&M, has been
President of XTO Energy since 2005 and employed by the Company in various
engineering positions since 1987. Mr. Vennerberg, 54, from Midwest City,
Oklahoma and an alumnus of Oklahoma State University, began his employment at
XTO Energy in 1987 as Land Manager. Vaughn has served as Senior Executive
Vice President and Chief of Staff since 2005.
XTO Energy will conduct a conference call with executive management today
at 9:00 a.m. (Central), Thursday, November 20th. The conference call can be
accessed on the Company's website at http://www.xtoenergy.com.
This release can be found at http://www.xtoenergy.com.
Statements made in this news release, including those relating to future
growth, economic strength and value creation for shareholders are forward-
looking statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. These statements
are based on assumptions and estimates that management believes are reasonable
based on currently available information; however, management's assumptions
and the Company's future performance are subject to a wide range of business
risks and uncertainties and there is no assurance that these goals and
projections can or will be met. Any number of factors could cause actual
results to differ materially from those in the forward-looking statements,
including, but not limited to, the timing and extent of changes in oil and gas
prices, changes in underlying demand for oil and gas, the timing and results
of drilling activity, production downtime due to maintenance, weather or other
factors outside the Company's control, the availability of drilling equipment
and technical personnel, changes in interest rates, higher than expected
production costs and other expenses, future acquisitions, general economic
conditions and failure to obtain or delays in obtaining necessary permits for
construction projects. The Company undertakes no obligation to publicly
update or revise any forward-looking statements. Further information on risks
and uncertainties is available in the Company's filings with the Securities
and Exchange Commission, which are incorporated by this reference as though
fully set forth herein.
SOURCE XTO Energy Inc.
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