Xto Energy Inc

XTO Energy Inc. said Monday that it had agreed to purchase natural-gas and oil properties in Texas, New Mexico and five other states from ChevronTexaco Corp. for $1.1 billion -- its largest acquisition. XTO and other U.S. energy companies are seeking to boost output from domestic fields shed by larger rivals after gas prices surged almost 80% in the last two years.

Exxon Mobil Corp.'s purchase of a Texas natural gas producer for $29 billion could reshape the U.S. energy landscape, setting the stage for the fuel to challenge coal in the nation's electrical grid and helping to alleviate American dependence on foreign oil. The wager by the nation's largest oil company positions Exxon Mobil to thrive in a world where petroleum, its key product, is getting tougher to come by. The deal is a "game-changer" that...

Exxon Mobil Corp.'s purchase of a Texas natural gas producer for $29 billion could reshape the U.S. energy landscape, setting the stage for the fuel to challenge coal in the nation's electrical grid and helping to alleviate American dependence on foreign oil. The wager by the nation's largest oil company positions Exxon Mobil to thrive in a world where petroleum, its key product, is getting tougher to come by. The deal is a "game-changer" that...

XTO Energy Inc. said Monday that it had agreed to purchase natural-gas and oil properties in Texas, New Mexico and five other states from ChevronTexaco Corp. for $1.1 billion -- its largest acquisition. XTO and other U.S. energy companies are seeking to boost output from domestic fields shed by larger rivals after gas prices surged almost 80% in the last two years.

XTO Energy Inc. said it was acquiring privately held Hunt Petroleum Corp. for $4.2 billion in cash and stock in a deal made more attractive by high oil and gas prices. XTO Energy said the deal included $2.6 billion in cash and 23.5 million shares of XTO stock. The stock portion of the deal is valued at about $1.6 billion, or $67.50 per XTO share. XTO shares slipped 70 cents to close at $67.02, after rising to a 52-week high of $70.63 earlier in the session. The sale would mean the end to the independent Hunt company, which was started by famed Texas wildcatter H.L. Hunt, who was considered one of the wealthiest men in America before his death in 1974.

Two Canadian trusts agreed Tuesday to buy 13 oil and natural-gas fields from ChevronTexaco Corp. for $793.6 million to boost reserves and cash flow. Enerplus Resources Fund and Acclaim Energy Trust, both of Calgary, plan to sell fields in western Canada worth about $138 million to an oil and gas producer immediately after the purchase, which is expected by June 30, Enerplus said. Chevron, based in San Ramon, Calif., issued its own statement and said it expected a significant gain on the deal.

Chevron Corp. said Tuesday that it would buy Atlas Energy Inc. for $3.2 billion in cash as the oil giant bolsters its market position in the U.S. shale-gas business. Stockholders of Pittsburgh-based Atlas Energy will receive $38.25 in cash for each of their shares, Chevron said, plus $5.09 a share to reflect the value of Atlas Energy's stake in Atlas Pipeline Holdings, for a total purchase price of $43.34 a share. The deal includes the assumption of $1.1 billion in debt. "This acquisition is the right opportunity for Chevron," said George Kirkland, the San Ramon, Calif.

On the heels of an expanded deal in Libya, Occidental Petroleum Corp. on Monday beefed up its holdings closer to home, agreeing to pay $1.55 billion for stakes in oil and natural gas projects in Colorado, New Mexico and West Texas. The agreement with Plains Exploration & Production Co. adds heft to Occidental's domestic operations, which account for two-thirds of the Westwood-based company's daily production and more than 70% of its reserves.

With Fort Worth sitting on one of the nation's largest natural gas fields, 150-foot drilling rigs are rising over golf courses, churchyards, even tree-lined neighborhoods. "If you don't have a gas well ... get one!" a billboard urges commuters zipping along a busy interstate near downtown. But not everyone is celebrating the natural gas bonanza here, despite the 55,000 new jobs and extra $5.2 billion annually it is bringing to the North Texas economy.

Occidental Petroleum Corp. was buying American on Friday, announcing major acquisitions of more than $3.2 billion in crude and natural gas assets in North Dakota and southern Texas, in what may signal heightened energy-company interest in building up domestic production. The Westwood company, the nation's fourth-largest oil and gas exploration outfit, also said it had sold its operations in Argentina for $2.5 billion and would increase holdings in pipelines while boosting dividends to shareholders.

The $2.4-billion buyout of Knott's Berry Farm's parent company by a private equity firm may be a sign of confidence in the future of theme parks, analysts said Thursday. Apollo Global Management agreed late Wednesday to acquire Cedar Fair, the Sandusky, Ohio, company that owns Knott's in Buena Park and 10 other amusement parks, seven water parks and five hotels in the U.S. and Canada. FOR THE RECORD: Knott's takeover: An article in Friday's Business section about Apollo Global Management's buyout of Knott's Berry Farm's parent, Cedar Fair, said the California Public Employees' Retirement System had paid $46 million in fees to Alfred Villalobos, a placement agent working for Apollo.

Kraft Foods Inc.'s $19.4-billion deal, reached Tuesday, to buy British candy giant Cadbury signals that big companies are gaining enough confidence in the economy to once again undertake major mergers. The uptick in mergers and acquisitions among large companies is an indication that the nascent economic rebound is gaining steam, as well as a welcome sight on Wall Street where investment bankers thrive on fat advisory fees, experts said. "It's an encouraging sign for the economy," said Peter Morici, an economist at the University of Maryland.