XTO takes on Barnett shale with Antero deal

XTO will pay Antero $337.5 million in cash and turn over 10 million shares of XTO common stock and warrants to purchase another 1.5 million shares.

XTO estimates proven reserves on the Antero acreage at about 440 billion cubic feet of natural gas. The deal also includes 61,000 net acres and current production of about 60 million cubic feet per day.

XTO