Top Story | Deals - Acquisition, Mergers, Divestitures
Chord Energy to Acquire XTO Williston Basin Assets for $550MM
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Chord Energy (NASDAQ: CHRD) announced it has signed a definitive agreement to acquire core Williston Basin assets from XTO Energy (Exxon Mobil subsidiaries) for $550 million cash, subject to customary adjustments. The acquisition adds ~48,000 net acres in the Williston core (86% operated WI; 82% NRI; 100% HBP) and ~90 net 10,000-ft equivalent locations (72 net operated), extending inventory life and improving portfolio breakevens. Chord expects near-term production of ~9 MBoepd (78% oil) with a ~23% base decline, and highlighted $40s WTI breakevens, long-lateral development potential (3–4 mile laterals), and accretion across key metrics while maintaining ~0.5–0.6x pro forma net leverage.
Source :
Mini Deal Sheet
| Field | Detail |
|---|---|
| Buyer | Chord Energy Corporation (NASDAQ: CHRD) |
| Seller | XTO Energy Inc. (Exxon Mobil subsidiaries) |
| Assets | Core Williston Basin (Fort Berthold / overlap with Chord footprint) |
| Deal Value | $550MM cash (subject to adjustments) |
| Net Acres | 48,000 net acres |
| Working Interest / NRI | 86% operated WI / 82% 8/8ths NRI |
| Held by Production | 100% HBP |
| Inventory | 90 net 10,000-ft locations (72 net operated) |
| Production | ~9 MBoepd (78% oil) |
| Base Decline | ~23% |
| Economics | Low $40s WTI breakevens |
| Leverage (post) | ~0.5x–0.6x adjusted net leverage |
| Strategic Rationale | Adds core, contiguous acreage; enables 3–4 mile laterals; accretive FCF/NAV; improves portfolio breakeven |
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