Chord Energy has announced a definitive agreement to purchase assets in the Williston Basin from XTO Energy, a subsidiary of ExxonMobil Corporation, for $550m.
The acquisition encompasses 48,000 net acres in the Williston Basin, with an 86% operated working interest and an 82% net revenue interest.
The assets include 90 net 10,000ft equivalent locations, with 72 net operated sites, extending Chord’s inventory life.
The deal, with an effective date of 1 September 2025, is expected to close by year-end.
Chord Energy president and CEO Danny Brown said: “The acquired assets are in one of the best areas of the Williston Basin and have significant overlap with Chord’s existing footprint, setting the stage for long-lateral development.
“The assets have a low average NYMEX WTI breakeven and are immediately competitive for capital. We expect that the transaction will create significant accretion for shareholders across all key metrics, while maintaining pro forma leverage below the peer group and supporting sustainable FCF [free cash flow] generation and return of capital.
“I am thankful for the hard work of all those involved in this transaction and look forward to Chord operating this asset in a safe and sustainable manner while continuing our strong relationship with the Three Affiliated Tribes on the Fort Berthold Indian Reservation.”
Chord Energy, an independent oil and gas exploration and production company focused on the Williston Basin, plans to fund the acquisition through a combination of cash reserves and borrowings.
Earlier this year, Chord Energy completed the acquisition of Enerplus, creating a combined exploration and production company valued at around $11bn.
Brown added: “This acquisition is consistent with our strategic objectives, and we look forward to incorporating the assets into the Chord portfolio given our established history of successful integration and execution.
“We remain focused as an organisation on disciplined capital allocation, driving continuous improvement through the business and delivering even better efficiency going forward.”
“Chord Energy to acquire XTO Energy’s Williston Basin assets for $550m” was originally created and published by Offshore Technology, a GlobalData owned brand.
Avoid Paying Taxes in 2025
Crude Oil, LNG, Jet Fuel price quote
ENB Top News
ENB
Energy Dashboard
ENB Podcast
ENB Substack