Chord Energy Expands Footprint with $550 Million Acquisition of Williston Basin Assets from XTO Energy
Reuters
2 hours ago
Chord Energy Expands Footprint with $550 Million Acquisition of Williston Basin Assets from XTO Energy
Chord Energy Corporation has announced a strategic acquisition of assets in the Williston Basin from XTO Energy Inc., subsidiaries of Exxon Mobil Corporation, for $550 million. This acquisition involves 48,000 net acres in the Williston core, with a significant overlap with Chord's existing footprint, facilitating long-lateral development. The transaction, funded through cash on hand and borrowings, is expected to bolster shareholder value while maintaining competitive leverage and supporting free cash flow generation. Chord Energy's President and CEO, Danny Brown, emphasized the alignment of this acquisition with the company's strategic objectives and its potential to enhance operational efficiency and capital returns. The effective date of the transaction is September 1, 2025, with closure anticipated by year-end.
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