I can always depend on XTO Energy
In the first quarter, XTO trotted out 29% higher production than last year. Revenue rose by the same percentage, while operating cash flow galloped 40% higher. Whoa, Nelly!
I noted in my review of Chesapeake Energy's
In newer plays like the Fayetteville shale -- where BP
All of this growth wouldn't do shareholders much good with commodity prices where they are. Fortunately, XTO wasn't horsing around with its hedging strategy last year. Like EnCana
It's been said that hedging can make you look like a genius one moment and an idiot the next. So far, XTO's looking like one smart jockey for locking in marvelous cash margins in the midst of a morose market for natural gas. While some of its rivals display long faces, XTO is off to the races.