Chord Energy Announces $550 Million Acquisition of Williston Basin Assets from XTO Energy
HOUSTON, Sept. 15, 2025 /PRNewswire/ — Chord Energy Corporation (NASDAQ: CHRD) (“Chord”, “Chord Energy” or the “Company”) today announced that a wholly owned subsidiary of Chord has entered into a definitive agreement to acquire assets in the Williston Basin from XTO Energy Inc. and affiliates (collectively, “XTO”), subsidiaries of Exxon Mobil Corporation, for total cash consideration of $550 million, subject to customary purchase price adjustments. The consideration is expected to be funded through a combination of cash on hand and borrowings.
Acquiring Core Acreage in Williston Basin:
- Acquired Acreage: 48,000 net acres in the Williston core (86% operated working interest, 82% 8/8ths net revenue interest, 100% held by production);
- Inventory Depth: 90 net 10,000 foot equivalent locations (72 net operated) extend Chord’s inventory life; includes interests in Chord-operated wells and new DSUs, plus royalty interests;
- Inventory Quality: Low average NYMEX WTI breakeven economics ($40s) compete at the front-end of Chord’s program and lower the weighted-average breakeven of Chord’s portfolio;
- Long-Lateral Development: The contiguous nature of the DSUs and proximity with Chord’s exiting footprint will facilitate 3 and 4 mile lateral development when operated by Chord;
- Expected Near-Term Production: ~9 MBoepd (78% oil) with a projected low base decline rate of ~23%;
- Highly Accretive: Expected to be accretive to all key metrics including cash flow, free cash flow and NAV in both near and long-term;
- Balance Sheet Strength: Post-transaction adjusted net leverage expected to be approximately 0.5x to 0.6x.
“We are excited to announce the acquisition of these high-quality assets,” said Danny Brown, Chord Energy’s President and Chief Executive Officer. “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 generation and return of capital.”
Mr. Brown continued, “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. Chord has demonstrated an impressive ability to improve economics by optimizing spacing and lateral length while driving efficiencies through the base business. Our track record of exceeding production expectations while lowering capital and improving margins has supported sustainable free cash flow and high return of capital.”
Effective Date: September 1, 2025. The transaction is expected to close by year-end.
Return of Capital
Chord’s return of capital framework calls for distributing 50%+ of adjusted FCF at forward net leverage between 0.5x and 1.0x and 75%+ of adjusted FCF at net leverage levels below 0.5x. Based on current commodity prices, Chord expects post transaction adjusted net leverage to be between 0.5x and 0.6x and to be back below 0.5x around mid-2026. During 3Q25, Chord has repurchased 788,444 shares of common stock totaling $83.0MM through September 12, 2025.
Non-GAAP financial measure. For reconciliations, visit: Chord Energy Non-GAAP Reconciliation.
Contact
Chord Energy Corporation
Bob Bakanauskas, VP, Investor Relations
(281) 404-9600
ir@chordenergy.com
Forward-Looking Statements and Cautionary Statements
Certain statements in this press release, other than statements of historical facts, that address activities, events or developments that Chord expects, believes or anticipates will or may occur in the future are forward-looking statements based on assumptions currently believed to be valid. Such statements are subject to a number of assumptions, risks and uncertainties that may cause actual results to differ materially. Additional information concerning these factors is contained in Chord’s most recent filings with the SEC.
About Chord Energy
Chord Energy Corporation is an independent exploration and production company with sustainable, long-lived assets primarily in the Williston Basin. The Company is uniquely positioned with a best-in-class balance sheet and is focused on rigorous capital discipline and generating free cash flow by operating efficiently, safely and responsibly. For more information, visit www.chordenergy.com.
SOURCE: Chord Energy
