Chord Energy to acquire Williston Basin assets of XTO Energy for $550m.

Chord Energy, a company engaged in hydrocarbon exploration and hydraulic fracturing, agreed to acquire Williston Basin assets of XTO Energy, an oil and natural gas producer, for $550m. "We are excited to announce the acquisition of these high-quality assets. 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. I'm 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," Danny Brown, Chord Energy's President and Chief Executive Officer.