XTO Energy

XTO Energy updates hedge pricesAugust 25, 2008 2:04 PM ET
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FORT WORTH, Texas (AP) - Oil and gas explorer XTO Energy Inc. said Monday it has hedged more than 70 percent of its remaining 2008 production volumes at a price of $10.10 on a natural gas equivalent basis.
The company said it increased hedged volumes for 2009 to more than 40 percent of expected production at an equivalent price of $12.31 per million cubic feet equivalent.
Hedging sets future prices for the gas seller, while helping its customers avoid the risk of volatile price swings by letting them lock in at a set cost.
Shares of XTO fell 93 cents to $47.41 in afternoon trading.