History in North Dakota and the Bakken
Written by Fort Union from the public sources listed below; bracketed numbers refer to that list.
From Cross Timbers to ExxonMobil
XTO Energy was founded in 1986 as Cross Timbers Oil Company, went public in 1993, and changed its name to XTO Energy in June 2001 to reflect a shift toward natural gas [1]. ExxonMobil agreed to acquire XTO on December 14, 2009 in a deal valued at $36 billion including assumed debt, and completed it in June 2010 [1]. XTO now operates as an ExxonMobil subsidiary and runs ExxonMobil's Bakken assets [1][2].
Entering the Bakken in 2008
XTO's own SEC filings document its entry. On May 23, 2008 it signed an agreement to buy producing properties and undeveloped acreage from Headington Oil Company LLC and other interest owners for cash and equity valued at about $1.85 billion, including 11,742,391 XTO shares. The purchase included 352,000 net acres of Bakken Shale leasehold in Montana and North Dakota, of which about 215,000 net acres were undeveloped; the properties were in the Bar Trend and Nesson Anticline parts of the play, produced about 10,000 barrels of oil equivalent a day (88% oil) at the time, and the main producing field then was Elm Coulee in Montana [3]. XTO completed the acquisition on July 15, 2008, with cash of $1.05 billion and the shares, valued at about $1.8 billion; its internal engineers estimated proved reserves of 68 million barrels of oil equivalent, and XTO said it expected to raise its rig count in the area from four to six during the first half of 2009 [4].
The same filing reports a second purchase announced that day: XTO agreed to acquire 100,000 net undeveloped Bakken acres and 400 barrels a day of production for about $115 million from undisclosed parties in separate transactions [4].
The 2012 Bakken swap with Denbury
The Bakken position was enlarged in 2012. On September 20, 2012 ExxonMobil announced an exchange agreement under which it and XTO would acquire 100 percent of Denbury's Bakken shale assets, about 196,000 net acres in North Dakota and Montana with expected second-half 2012 production above 15,000 barrels of oil equivalent a day; Denbury would receive $1.6 billion in cash plus ExxonMobil's interests in the Hartzog Draw field in Wyoming and Webster field in Texas. ExxonMobil said this would raise its Bakken holdings by about 50 percent to nearly 600,000 acres, and that XTO would operate the acreage [2]. Denbury's later 8-K shows the exchange closing in two phases, the second and final phase on December 21, 2012 [5].
Fort Berthold operations and compliance
Much of XTO's North Dakota work is on or near the Fort Berthold Indian Reservation. On March 26, 2018 the Department of Justice and EPA announced a proposed consent decree resolving alleged Clean Air Act violations over vapor-control systems on storage tanks at all 20 of XTO's well pads on the reservation. EPA said the case arose from 2015 inspections; XTO would upgrade its systems, spend at least $450,000 (EPA's estimate) on a mitigation project and pay a $320,000 civil penalty, subject to court approval and public comment [6].
Two sales of acreage to Chord
XTO has also been a seller. Chord Energy's annual report records two purchases from XTO and its affiliates, which it identifies as subsidiaries of Exxon Mobil Corporation: about 62,000 net acres in the Williston Basin in 2023 (announced May 22, 2023 for $375.0 million; closed June 30, 2023), and further developed and undeveloped Williston Basin assets agreed on September 15, 2025 for $550.0 million, which closed October 31, 2025 for total cash consideration of $542.2 million [7]. Chord described the 2025 package as 48,000 net acres in the Williston core, held by production [8].
Current footprint
The Department of Mineral Resources ranked XTO sixth in 2026, at 16.39 million barrels (5.9% of North Dakota production) through August [9]. The DMR's active-rig list, as read on October 25, 2026, showed two rigs under XTO Energy Inc, one on a McKenzie County well and one on a Williams County well, and Bakken Wire reported XTO releasing a rig from a McKenzie County location on October 7 [10][11]. A third-party ranking site also lists XTO among North Dakota's top producers [12].
Note for owners
ExxonMobil publishes a royalty owners page for changes of ownership and a division order email.
Relevant news and sources
The sources this history was drawn from, in the order they are first cited. Links were checked when this page was built.
- XTO Energy (history and references) — Wikipedia, read Oct 25, 2026. Secondary summary; its footnotes cite Bloomberg, the Wall Street Journal, SEC filings and Reuters.
- ExxonMobil to Increase Production and Acreage in Bakken Oil Shale Region — ExxonMobil, Sep 20, 2012.
- XTO Energy Form 8-K: agreement to acquire Bakken assets from Headington Oil Company LLC — XTO Energy / SEC, May 2008.
- XTO Energy Form 8-K: completion of acquisition of Bakken assets — XTO Energy / SEC, Jul 15, 2008.
- Denbury Resources Form 8-K/A (completion of Bakken exchange) — Denbury Resources / SEC, Dec 21, 2012 (second closing).
- XTO Energy Inc. to Make System Upgrades and Undertake Projects to Reduce Air Pollution on the Fort Berthold Indian Reservation in North Dakota — U.S. Department of Justice, Mar 26, 2018.
- Chord Energy Corporation Form 10-K for fiscal year 2025 — SEC, filed Feb 26, 2026.
- Chord Energy Announces Strategic Acquisition of Williston Basin Assets — Chord Energy / PR Newswire, Sep 15, 2025.
- Director's Cut, October 2026: Top 10 oil producers in ND (slide 18) — ND Department of Mineral Resources, Oct 20, 2026. Year-to-date oil production through August 2026.
- Active Drilling Rig List — ND Department of Mineral Resources, read Oct 25, 2026. Live page that changes daily; counts quoted here are as read on Oct 25, 2026.
- North Dakota Rig Count Holds at 33 After Three Rigs Dropped — Bakken Wire, Oct 7, 2026.
- Largest Oil & Gas Operators in North Dakota (well counts on record) — Buckhead Energy (third-party data aggregator), read Oct 25, 2026. Aggregator data, shown for context only.
Logos are trademarks of their respective owners and are used here only to identify each company; their use does not imply affiliation with or endorsement by Fort Union Minerals. Ranking basis: 2026 year-to-date oil production through August, million barrels; source: North Dakota Department of Mineral Resources, Director's Cut (October 20, 2026), slide 18.