Piper Sandler raised the firm’s price target on Chord Energy (CHRD) to $169 from $166 and keeps an Overweight rating on the shares. The firm notes the company announced it is acquiring Williston Basin assets from Exxon Mobil (XOM) for $550M adding 48k net acres in the FBIR, 9 mboe/d of low decline production and 90 net two-mile equivalent locations, with about 80% expected to be developed with three- and four-mile laterals. The company is funding the deal with cash and debt and is expected to close by year-end 2025.
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Read More on CHRD:
- Chord Energy to acquire Williston Basin assets for $550M in cash
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