XTO Energy

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XTO Energy Inc. is an American energy company and subsidiary of ExxonMobil principally operating in North America. Acquired by ExxonMobil in 2010 and based out of Spring, Texas, it is involved with the production, processing, transportation, and development of oil and natural gas resources. The company specializes in developing shale gas via unconventional means like hydraulic fracturing and horizontal drilling. ExxonMobil's acquisition of XTO made it the largest producer of natural gas in the U.S. Since then, XTO Energy's resource portfolio has tripled through several acquisitions. The company owns interests in approximately 40,000 active oil and natural gas sites across North America, with locations in Arkansas, Colorado, Kansas, Louisiana, Montana, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, West Virginia, Wyoming and Western Canada. XTO Energy was founded in 1986, and was initially called Cross Timbers Oil Company. The company was started by Bob R. Simpson, Steve Palko and Jon Brumley with US$35 million raised by former Goldman Sachs co-chairman Robert Rubin. Initially, the company purchased and developed long-lived oil and gas production properties. The company went public in 1993. In 1996, Bob R. Simpson, one of the company's founders, became chairman and chief executive officer.