Locator: 49362B.
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Back to the Bakken
WTI: $59.32.
New wells: link here.
RBN Energy: link here.
From RBN Energy last week: link here.
Chord Energy/ExxonMobil’s Bakken Assets
Also on September 15, Chord Energy (CHRD), the largest producer in the Bakken since its $11 billion acquisition of Enerplus in May 2024, said it will purchase the remaining North Dakota production assets of ExxonMobil subsidiary XTO Energy for $550 million in cash in a deal expected to close by year’s end. The assets include 48,000 net acres (dark-blue areas in Figure 4 below) and 9 Mboe/d of production (78% oil), the vast majority of it in Dunn County and much of it within the Fort Berthold Indian Reservation (area outlined by dark-gray line). The XTO acreage being purchased is largely contiguous with Chord’s existing acreage (bright-green areas) and in some cases the deal will add to Chord’s working interest (WI; striped areas).
Formed in July 2022 with the merger of Whiting Petroleum and Oasis Petroleum, Chord Energy in June 2023 acquired 62,000 net acres and 6 Mboe/d of production from XTO for $375 million. In Q2 2025, Chord produced 281 Mboe/d (56% oil).
Chord Energy’s and XTO Energy’s Bakken Acreage
Figure 4. Chord Energy’s and XTO Energy’s Bakken Acreage. Source: Chord Energy
Chord Energy said the latest set of assets it is acquiring from XTO have breakeven economics in the $40s/bbl range and will “compete at the front end of Chord’s program.” The E&P noted that the contiguous nature of XTO’s drilling spacing units (DSUs) and proximity to Chord’s acreage “will facilitate 3- and 4-mile lateral development” — a fast-growing trend in western North Dakota.
