Natural gas producer XTO Energy’s (XTO) third quarter results came in better than expected, primarily due to rise in production volumes. Earnings per share, excluding non-cash derivative fair value loss, came in at 87 cents, ahead of the Zacks Consensus Estimate of 84 cents.   XTO’s adjusted earnings per share fell 11.2% year over year, reflecting lower realized natural gas prices. However, revenues were up 7.7% to $2.3 billion, mainly on the back of the company’s attractive hedges. During the quarter, operating income was down 5.2% year over year to $919 million, but cash flow from operations was up 2.8% to $1.6 billion.   Volume Gains Continue   Production during the quarter increased 23.4% year over year and 1.9% sequentially to a record 2.9 billion cubic feet equivalent (Bcfe) per day. Average daily gas production increased 24.2% year over year to 2.4 billion cubic feet (Bcf), daily oil ...

XTO Energy’s (XTO) second-quarter results came in better-than-expected, primarily due to rise in production volumes and lower cash costs. Earnings per share, excluding one-time items (non-cash derivative fair value loss and gain on debt extinguishment), came in at 88 cents, 7 cents above the Zacks Consensus Estimate. On a year-over-year basis, XTO’s adjusted earnings per share fell 17%, reflecting lower realized natural gas prices. However, revenues were up 17% to $2.3 billion, mainly on the back of the company’s attractive hedges. During the quarter, operating income was down 11% year over year to $898 million, while cash flow from operations was up 23% to $1.51 billion. Healthy Volume Increase Production during the quarter increased 32% year over year and 6% sequentially to a record 2.9 billion cubic feet equivalent (Bcfe) per day. Average daily gas production increased 31% year over year to 2.4 billion cubic feet

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