Chord Energy Announces Strategic Acquisition Of Williston Basin Assets
05/22/23, 12:03 PM
Location
houston
Industry
renewable energy
oil and gas
energy
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 $375MM, subject to customary purchase price adjustments. The consideration is expected to be funded with cash on hand, which was $592MM as of March 31, 2023.
Company Info
Location
Houston, Texas, United States
Company info
Chord Energy Corporation is an independent exploration and production company with quality and sustainable long-lived assets in the Williston Basin. It 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 to develop its unconventional onshore oil-rich resources in the continental United States.