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North Dakota Ag News Headlines
RimRock Swaps Acres with Exxon's XTO Energy
North Dakota Ag Connection - 02/22/2021

RimRock Oil & Gas, Greenwood Village, Colo., an oil and gas exploration and production company focused on the Williston Basin of North Dakota, announced the completion an Exchange Agreement with XTO Energy Inc., a subsidiary of Exxon Mobil Corporation.

"This transaction is an exciting milestone for RimRock as it successfully transitions the company's acreage position to a fully operated one, without impacting the overall size of RimRock's net footprint or development inventory. RimRock will fully control both its capital spend and pace of development moving forward, creating a unique asset with meaningful inventory in the core of the Williston," said James Fraser, RimRock president and CEO.

Under the terms of the agreement, RimRock and XTO exchanged approximately 5,500 net acres and associated production located in Dunn County, N.D. RimRock now operates its entire land position with an average 85% working interest across approximately 31,500 gross acres, including a subset of acreage previously operated by XTO.

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