Chord Energy to acquire Williston basin assets from ExxonMobil’s XTO Energy

Chord president and CEO said the XTO Williston assets have significant overlap with the company's existing footprint, setting the stage for long-lateral development.

Sept. 15, 2025

Chord Energy drilling operations — Chord Energy agreed to acquire Williston basin assets from XTO Energy Inc. and affiliates. The company said the assets are in close proximity to its existing operational footprint.

A subsidiary of Chord Energy Corp., Houston, has agreed to acquire assets in the Williston Basin from XTO Energy Inc. and affiliates, subsidiaries of Exxon Mobil Corp., for $550 million.

Chord president and chief executive officer Danny Brown, in a release Sept. 15, said the assets have significant overlap with the company’s existing footprint [on FBIR & Little Knife], “setting the stage for [3- and 4-mile] long-lateral development” when operated by Chord, and are immediately competitive for capital.

With an average NYMEX WTI breakeven in the $40s, the assets “compete at the front-end of Chord's program and lower the weighted-average breakeven of Chord's portfolio,” the company said.

The assets include 48,000 net Williston acres (86% operated working interest, 82% 8/8ths net revenue interest, 100% held by production); 90 net 10,000 ft equivalent locations (72 net operated); interests in Chord-operated wells and new DSUs, plus royalty interests.

The company said “expected near-term production” is about 9,000 boe/d (78% oil) with a projected low base decline rate of about 23%.

The deal is expected to close by yearend 2025.