HighMount Exploration & Production LLC, a subsidiary of Loews Corp., New York, (NYSE: LTR) and XTO Energy Inc., Fort Worth, Texas, (NYSE: XTO) have closed their acquisitions of most of the U.S. onshore E&P operations of Dominion Resources Inc., Richmond, Va., (NYSE: D) in two deals valued at a total of $6.5 billion. Loews has acquired Dominion's operations in the Permian Basin in Texas, the Antrim Shale in Michigan and the Black Warrior Basin in Alabama for $4 billion. Proved reserves are approximately 2.5 trillion cubic feet of gas equivalent. XTO has acquired 542,000 net acres (235,000 undeveloped) of Dominion's operations in the Rockies, Gulf Coast, San Juan Basin and South Louisiana (70% operated) for $2.5 billion. Production is 200 million cubic feet equivalent per day. Proved reserves are 1.1 trillion cubic feet equivalent (64% proved developed).
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