I don't follow XTO normally. I read on another board that XTO trashed the benefits of Haynesville in its quarterly conference call today. I am listening to it now. I would suggest listening to it from the archieve.
I guess XTO has quite a rivalry with CHK (or that is who I assume they are referring to). XTO called the Haynesville hyperbole and hype as to its total potential reserves and recoverable. I thought XTO produces in that area so am not sure why they would downplay the area in its conference call. I think this call is what pushed the Haynesville shale stocks lower than many other sector stocks today (CHK, GMXR, HK, PVA, etc). I wonder if XTO is serious about the lower expectatiosn for Haynesville or if they want to bring down company stock prices (for an acquisition of say GMXR) or to buy more acreage in that area at lower prices. I assume CHK pays more per acre for the drilling rights so XTO must be bad mouthing that area. Your comments on XTO, its conference call and how it affects CHK / Haynesville are greatly apprecated.
<<<I wonder if XTO is serious about the lower expectatiosn for Haynesville or if they want to bring down company stock prices (for an acquisition of say GMXR) or to buy more acreage in that area at lower prices.
Prices and competition are out of hand in some areas. Throw a little cold water where you can to help....long term no one will remember these comments.
XTO has had a thing about trying to be bigger and better than CHK for a long as I've followed this stock (1999). I wouldn't be suprised if some of the scum on this board are their employees or paid by them to bash, funny that CHK's favorite basher isn't here posting while XTO is doing their conference call. JMHO
The XTO CEO Bob Simpson did make some negative comments about the Haynesville Shale during their conference call. His comments included "there's a bunch of hype going on", "there's no way that they can say at this point that 10 years worth of US production is there" and that "all the hype is bad for the industry". CHK and AM were not specifically named but everyone new who they were talking about. His comments concluded with "there is no way to know how much NG is there until holes are poked in the ground". This is during a quarterly conference call that XTO was reporting a good quarter but new that they were going to issue an additional secondary soon after. It was monotone in nature. I believe we're dealing with some major egos on both sides of the coin when it comes to XTO and CHK.