Chord Energy to acquire Williston Basin assets from XTO for $375M cash

Chord Energy Corp

$375M cash consideration to XTO Energy (Exxon subsidiary) for ~62,000 net acres in Williston Basin.
Acquisition adds 123 net 10,000-ft equivalent locations and >6 MBoepd current production (~62% oil).
Expected close end of June 2023; funded with $592M cash on hand as of March 31, 2023.
CEO says transaction accretive to cash flow, free cash flow, and return of capital; pro forma leverage below target.
Prior guidance from May 3, 2023 to be updated with Q2 earnings announced in August 2023.

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