Cross Timbers Oil changes name to XTO Energy

Posted: Wednesday, May 16, 2001

FORT WORTH, Texas (AP) -- Cross Timbers Oil Co. is changing its name to XTO Energy Inc., officials announced Tuesday at the company's annual meeting. Among the company's properties are oil platforms in Alaska's Cook Inlet.

The new name will start June 1. The company will continue to be listed on the New York Stock Exchange under the current symbol, ''XTO.''

The Fort Worth-based company's natural gas production is expected to grow 20 percent this year and 20 percent next year, which would lead the industry, said Bob R. Simpson, chairman and chief executive officer.

''XTO Energy embodies our high-impact and successful strategy, our innovative and dedicated organization and our energized outlook for the future,'' said Steffen E. Palko, vice chairman and president.

Cross Timbers Oil is a domestic natural gas producer involved in the acquisition, exploration and development of oil and gas properties.

Cross Timbers, which completed its initial public offering in 1993, has properties in Texas, Oklahoma, Kansas, New Mexico, Arkansas, Wyoming, and Louisiana, as well as Alaska. ------

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