- Business
- Chord Energy Corporation (NASDAQ: CHRD; OTCMKTS: WLLAW) operates as an independent exploration and production company focused on acquiring, exploring, developing, and producing crude oil, natural gas, and natural gas liquids primarily in the Williston Basin of North Dakota and Montana. The company sells its products to refiners, marketers, and other purchasers with access to pipeline and rail facilities; offers high-quality, low-breakeven inventory with advanced operational techniques including long-lateral development and optimized spacing; and maintains operations through facilities such as its Ray Gas Plant and offices in Williston, Watford City, and New Town, North Dakota. Founded in 2007 and formerly known as Oasis Petroleum Inc. until its rebranding in July 2022, Chord Energy Corporation is headquartered in Houston, Texas, with key activities on the Fort Berthold Indian Reservation.
The company targets upstream oil and gas markets, emphasizing disciplined capital allocation, operational excellence, and sustainability in ESG practices to generate resilient free cash flow and shareholder returns amid volatile commodity prices.
In recent developments, Chord Energy successfully integrates its 2024 merger with Enerplus Corporation, boosting pro forma free cash flow per share by 35% and strengthening its Williston Basin position through synergies and high-quality inventory; announces a definitive agreement on September 15, 2025, to acquire 48,000 net acres from XTO Energy Inc., affiliates of Exxon Mobil Corporation, for $550 million in cash, adding 90 net 10,000-foot equivalent locations with low NYMEX WTI breakeven economics in the $40s, ~9 MBoepd production (78% oil), and support for 3- and 4-mile laterals, with an effective date of September 1, 2025, and expected year-end closing funded by cash and borrowings.