Wednesday, XTO Energy Inc. (XTO) updated its price hedges for future sales of production in 2010. In addition, the company noted that it now hedged around 55% of its projected 2010 production at $9.62 Per Mcfe. Bob Simpson, chairman and founder stated, "These prices secure robust cash margins and cash flow for our liquids-rich natural gas company, while still allowing us to participate in an improving natural gas market next year."
Moreover, the Three Forks/Sanish well was completed at an initial daily production rate of 2,700 barrels of oil equivalent, at a flowing casing pressure of 1,700 pounds. As the company moves into 2010, it expects to double its rig count to six in the Bakken.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.