Williston Basin pure-play Chord Energy Corp. has agreed to acquire a package of assets from ExxonMobil subsidiary XTO Energy Inc. in a cash transaction valued at $375 million.

The assets span about 62,000 net acres and include “123 estimated net 10,000 foot equivalent locations,” said management of Houston-based Chord. The XTO assets currently are producing more than 6,000 boe/d (62% oil), with the acreage 100% held by production. XTO specializes in developing tight gas, shale gas and unconventional onshore resources, primarily in the Lower 48.

“The acquired assets are an excellent strategic and operational fit to Chord’s premier Williston Basin acreage position,” said Chord CEO Danny Brown. “These low-cost, tier-one assets are...