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Texas-Based Cross Timbers Oil Reaps Benefits of Expanded Natural-Gas Activity.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, November, 2000 by Maxon, Terry
Nov. 24--FORT WORTH, Texas--About four years ago, Cross Timbers Oil Co. was at a crossroads.
The Fort Worth energy company had earned as much from crude oil in the first half of the 1990s as from natural gas. But chief executive officer Bob R. Simpson and other top executives predicted that natural gas would be a safer bet.
So far, the gamble has paid off.
Despite the "Oil" in its name, Cross Timbers in recent years has focused on expanding its natural gas production with little emphasis on oil.
Today, about three out of four dollars taken in comes from the sale of natural gas at a time when natural gas prices have never been higher, peaking above $6 per thousand cubic feet this week.
The emphasis on gas has helped Cross...
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