BISMARCK, ND (KXNET) - Chord Energy is making a major move to expand its presence in the Williston Basin with a $550 million acquisition that adds 48,000 net acres of high-value oil and gas assets. The deal, set to close by the end of the year, is effective as of Sept. 1 and will be funded through a mix of cash and debt.

The newly acquired acreage is entirely held by production and includes operated working interests, royalty stakes, and new drilling spacing units. Chord estimates the assets will contribute roughly 9,000 barrels of oil equivalent per day, with oil making up nearly 80% of the output. The production is expected to decline slowly, at a base rate of about 23%.

The acquisition brings 90 net drilling locations to Chord’s portfolio, 72 of which are operated. Most of these sites

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