Shareholder Returns - Chord Energy returned $944 million to shareholders in 2024, representing approximately 14% of its current market capitalization[5] - The company increased its 4Q24 base dividend to $1.30 per share, marking a 4% increase[5] - Adjusted Free Cash Flow for 4Q24 was $276.9 million, with 100% of it returned to shareholders[5] - The company repurchased 3.5 million shares of common stock since closing the Enerplus combination, representing over 5% of shares outstanding[5] Production and Operational Performance - In 4Q24, Chord's oil volumes reached 153.3 MBopd, exceeding the midpoint guidance of 149.5 – 154.5 MBopd[8] - For FY25, Chord expects to generate approximately $2.5 billion of Adjusted EBITDA and $860 million of Adjusted Free Cash Flow[16] - In Q4 2024, total production was 273.5 MBoepd, a decrease of 2.4% from 280.8 MBoepd in Q3 2024, and an increase of 17.5% from 232.7 MBoepd in FY24[21] - Marcellus natural gas volumes in Q4 2024 were 113.7 MMcfpd, with realized natural gas prices at $2.29/Mcf[24] - Chord plans to TIL 130 – 150 gross operated wells in 2025, with an average working interest of approximately 80%[18] Financial Performance - Crude oil revenues in Q4 2024 were $970.4 million, down 9.6% from $1,073.9 million in Q3 2024, while total revenues for FY24 reached $3,836.2 million[23] - Adjusted EBITDA for Q4 2024 was $640.1 million, a decrease of 5.1% from $674.5 million in Q3 2024, with FY24 adjusted EBITDA totaling $2,347.3 million[23] - The company reported adjusted free cash flow of $276.9 million in Q4 2024, down from $312.5 million in Q3 2024, and $1,005.1 million for FY24[23] - Basic earnings per share for Q4 2024 were $3.45, a decrease from $3.63 in Q3 2024, with diluted earnings per share at $3.43[23] - Total revenues for the year ended December 31, 2024, increased to $5,251,082,000, a 35% increase from $3,896,641,000 in 2023[41] - Net income for the year ended December 31, 2024, was $848,627,000, down 17% from $1,023,779,000 in 2023[41] - Operating income for the year ended December 31, 2024, was $1,100,067,000, compared to $1,273,182,000 in 2023, reflecting a decrease of 13.6%[41] - Cash flows from operating activities for the year ended December 31, 2024, were $2,097,227,000, an increase from $1,819,851,000 in 2023[43] - Capital expenditures for the year ended December 31, 2024, totaled $1,179,075,000, compared to $905,673,000 in 2023, representing a 30% increase[43] Assets and Liabilities - The company reported a total asset value of $13,032,007,000 as of December 31, 2024, up from $6,926,150,000 in 2023, indicating a 88% increase[39] - Total liabilities increased to $4,329,745,000 in 2024 from $1,849,526,000 in 2023, marking a 134% rise[39] - The company’s retained earnings rose to $2,301,655,000 in 2024, up from $1,960,638,000 in 2023, reflecting a growth of 17.4%[39] Cash and Expenses - The company’s cash and cash equivalents decreased to $36,950,000 at the end of 2024 from $317,998,000 at the end of 2023, a decline of 88%[43] - General and administrative expenses for the year ended December 31, 2024, were $205,585,000, up from $126,319,000 in 2023, reflecting a 63% increase[52] - Cash Interest for the three months ended December 31, 2024, was $17,635,000, compared to $7,485,000 in the same period of 2023, an increase of 135%[55] - Cash taxes paid for the year ended December 31, 2024, were $53,721,000, compared to $17,195,000 in 2023, indicating a substantial rise[59] Earnings and Adjustments - Adjusted net income attributable to common stockholders for the year ended December 31, 2024, was $879,372, up 9.8% from $801,118 in 2023[65] - Diluted earnings per share for Q4 2024 was $3.44, down 50.5% from $6.95 in Q4 2023[65] - Adjusted diluted earnings per share for the year ended December 31, 2024, was $16.67, a decrease of 10.0% from $18.46 in 2023[65] - The company reported merger costs of $89,258 for the year ended December 31, 2024, compared to $9,701 in 2023[65] - The effective tax rate applicable to adjustment items was 23.7% for the year ended December 31, 2024[65] Derivative Instruments - The company had a gain on derivative instruments of $17,190,000 for the three months ended December 31, 2024, compared to a loss of $51,935,000 in the same period of 2023[59] - The net gain on derivative instruments for Q4 2024 was $17,190, compared to a loss of $51,935 in Q4 2023[65] - The company experienced a realized loss on commodity price derivative contracts of $5,187 in Q4 2024, compared to a loss of $50,463 in Q4 2023[65] - The impairment charge for the year ended December 31, 2024, was $9,839, down from $28,964 in 2023[65]

Core Insights - Chord Energy Corporation reported strong operational and financial results for Q4 2024 and provided an optimistic outlook for 2025, highlighting significant synergies from the Enerplus acquisition and efficient capital investment opportunities [1][4][15]. Financial Performance - In Q4 2024, Chord achieved oil volumes of 153.3 MBopd, exceeding guidance of 149.5 – 154.5 MBopd, and total volumes of 273.5 MBoepd, surpassing the high-end of guidance [5][19]. - The company returned 100% of Adjusted Free Cash Flow to shareholders in Q4 2024, amounting to $205.0 million, primarily through share repurchases [6][13]. - Adjusted EBITDA for Q4 2024 was $640.1 million, with Adjusted Free Cash Flow of $276.9 million [9][21]. Capital Expenditures and Guidance - Chord's FY 2025 capital expenditure guidance is set at $1.4 billion, with expected oil volumes of 152.5 MBopd [15][20]. - The company plans to drill 130 – 150 gross operated wells in 2025, with a focus on capital efficiency and maximizing free cash flow generation [20][24]. Reserves and Production - As of December 31, 2024, Chord's estimated net proved reserves were 883.0 MMBoe, including 503.4 MMBbl of crude oil and 1,274.7 Bcf of natural gas [10][11]. - The company successfully drilled its first four-mile lateral in Q4 2024, with completion operations expected to commence in Q1 2025 [6][20]. Return of Capital - Chord declared a base dividend of $1.30 per share, a 4% increase from the previous dividend, payable on March 26, 2025 [12][13]. - The company has repurchased 3.5 million shares since the Enerplus combination, representing over 5% of shares outstanding [6][13]. Balance Sheet and Liquidity - As of December 31, 2024, Chord had total debt of $845 million and liquidity of $1.56 billion, following a borrowing base redetermination in February 2025 [24][25].

The upcoming report from Chord Energy Corporation (CHRD) is expected to reveal quarterly earnings of $2.75 per share, indicating a decline of 47.6% compared to the year-ago period. Analysts forecast revenues of $1.1 billion, representing an increase of 14.4% year over year.The consensus EPS estimate for the quarter has undergone an upward revision of 0.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates duri ...

Core Viewpoint - Chord Energy Corp. is set to announce its fourth quarter and year-end 2024 financial and operational results on February 25, 2025, with a subsequent live webcast and conference call scheduled for February 26, 2025 [1] Financial Results Announcement - The financial results will be disclosed after market close on February 25, 2025 [1] - A live webcast and conference call will take place on February 26, 2025, at 10:00 a.m. Central [1] Conference Call Details - Investors and analysts can join the conference call via a registration link for an automated call back [1] - Dial-in options are available for those who prefer operator assistance, with specific numbers provided for both domestic and international callers [2] - A recording of the conference call will be accessible starting at 1:00 p.m. Central on the day of the call, available until March 5, 2025 [2] Upcoming Conferences and Events - Chord Energy plans to participate in several energy conferences throughout 2025, including: - Daniel Energy Partners THRIVE Energy Conference on March 6, 2025 - Piper Sandler Energy Conference on March 18, 2025 - TPH&Co. Hotter 'N Hell Conference on May 15, 2025 - Bernstein Strategic Decisions Conference on May 29, 2025 - RBC Capital Markets Global Energy, Power & Infrastructure Conference on June 3, 2025 [3] Company Overview - Chord Energy Corp. is an independent exploration and production company with sustainable assets in the Williston Basin [3] - The company emphasizes a strong balance sheet and focuses on capital discipline and free cash flow generation through efficient and responsible operations [3]

Group 1 - The article discusses the author's professional background in the Nuclear Power industry and how it aids in evaluating potential equities for long-term investment [1] - The focus is on investing in income-producing equities and rental real estate properties for cash flow and long-term appreciation [1] Group 2 - The article serves as a platform to present the underlying fundamentals and long-term potential of each equity or business [1]

Core Viewpoint - The stock market is currently buoyed by enthusiasm surrounding President Trump's policies, but uncertainties regarding tax cuts and tariffs persist. Dividend-paying stocks are suggested as a potential buffer against market volatility [1]. Group 1: AT&T - AT&T announced a quarterly dividend of $0.2775 per share, with a dividend yield of nearly 5% [3]. - Analyst Joseph Bonner upgraded AT&T to a buy rating with a price target of $27, following the company's analyst day where it outlined its strategy and financial goals [3][4]. - Management raised its 2024 adjusted EPS outlook and plans to return $40 billion to shareholders from 2025 to 2027 through dividends and share repurchases [4][5]. Group 2: Chord Energy - Chord Energy aims to return over 75% of its free cash flow, recently paying a base dividend of $1.25 per share and a variable dividend of $0.19 per share [7]. - Analyst William Janela reiterated a buy rating on Chord Energy with a price target of $178, citing strong visibility in its outlook and enhanced capital efficiencies [8][9]. - Chord Energy's defensive balance sheet positions it well in a volatile oil price environment, with a net debt to EBITDX ratio of approximately 0.2x [9]. Group 3: Diamondback Energy - Diamondback Energy paid a base dividend of $0.90 per share for Q3 2024 and is expected to report strong Q4 results [12]. - Analyst Nitin Kumar maintains a buy rating on Diamondback with a price target of $207, highlighting that 50% of free cash flow is returned to investors [14]. - The company’s high dividend yield is attributed to superior cost control and unit margins, bolstered by the Endeavor Energy Resources acquisition [14].

Group 1 - Chord Energy Corporation (NASDAQ: CHRD) has signed a merger agreement that is expected to generate significant synergies in the coming years [1] - The company has been involved in several asset sales, indicating a potential for further asset divestitures in the near future [1] - The analyst has a long position in CHRD shares, reflecting confidence in the company's future performance [2] Group 2 - The analyst has extensive experience in the financial industry, covering mature sectors such as mining, oil and gas, and real estate [1] - The investment strategy focuses on mergers and acquisitions, deep value investments, and dividend investing, targeting an internal rate of return of approximately 5%-7% [1]

Financial Performance - Oil, NGL, and gas revenues for Q3 2024 reached $1,121,012 thousand, a 33.4% increase from $840,625 thousand in Q3 2023[15] - Total revenues for Q3 2024 were $1,450,467 thousand, up 29.1% from $1,123,368 thousand in Q3 2023[15] - Operating income for Q3 2024 was $272,893 thousand, a decrease of 22.6% compared to $352,737 thousand in Q3 2023[15] - Net income for Q3 2024 was $225,316 thousand, compared to $209,076 thousand in Q3 2023, reflecting an increase of 7.8%[15] - Basic earnings per share for Q3 2024 were $3.63, down from $5.01 in Q3 2023, representing a decline of 27.5%[15] - Total revenues for the nine months ended September 30, 2024, were $3,796,408 thousand, up 29.5% from $2,931,956 thousand in the same period of 2023[31] - Net income for the nine months ended September 30, 2024, was $638,030 thousand, a decrease of 12% compared to $722,146 for the same period in 2023[21] - The company’s net income per share for the nine months ended September 30, 2024, was $13.13, compared to $14.50 for the same period in 2023[57] Assets and Liabilities - Total assets increased to $13,034,163 thousand as of September 30, 2024, compared to $6,926,150 thousand on December 31, 2023, representing an increase of approximately 88%[10] - Current assets rose to $1,552,136 thousand, up from $1,424,551 thousand, reflecting a growth of about 9%[10] - Oil and gas properties increased significantly to $12,434,669 thousand from $6,320,243 thousand, marking an increase of approximately 97%[10] - Total liabilities reached $4,257,249 thousand, compared to $1,849,526 thousand, indicating an increase of around 130%[10] - Stockholders' equity grew to $8,776,914 thousand from $5,076,624 thousand, which is an increase of approximately 73%[12] - Current liabilities increased to $1,661,780 thousand from $1,165,459 thousand, reflecting a growth of approximately 43%[10] - Long-term debt rose to $867,173 thousand from $395,902 thousand, representing an increase of about 119%[10] - Total accrued liabilities increased to $738,991 thousand as of September 30, 2024, compared to $493,381 thousand at December 31, 2023, indicating a 49.9% increase[33] Acquisitions and Investments - The company completed the acquisition of Enerplus Corporation on May 31, 2024, impacting financial results from that date forward[9] - The total consideration for the acquisition of Enerplus was $4,611.26 million, which included 20,680,097 shares of common stock and $375.8 million in cash[51] - Goodwill recognized from the Enerplus acquisition totaled $539.8 million, primarily due to expected operational and financial synergies[50] - The net assets acquired from Enerplus amounted to $4,071.47 million after accounting for liabilities assumed[53] - The company recorded total assets acquired from Enerplus at an estimated fair value of $5,856.75 million[53] Cash Flow and Capital Expenditures - Net cash provided by operating activities increased to $1,530,772, up 20% from $1,276,517 in the prior year[21] - Capital expenditures for the nine months ended September 30, 2024, were $877,381, an increase of 37% compared to $642,584 in 2023[21] - The company experienced a net cash used in investing activities of $1,494,111, an increase from $1,112,318 in the previous year[21] - Total capital expenditures for the nine months ended September 30, 2024, amounted to $904.95 million, with $328.43 million in E&P expenditures for the third quarter[119] Shareholder Returns - Total dividends declared for the nine months ended September 30, 2024, amounted to $419.3 million, compared to $400.8 million for the same period in 2023[74] - The company repurchased 1,509,996 shares of common stock at a weighted average price of $157.47 per share for a total cost of $237.8 million during the nine months ended September 30, 2024[75] - The company declared a base-plus-variable cash dividend of $1.44 per share on November 6, 2024, payable on December 12, 2024[74] Operational Efficiency - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[15] - Production volumes averaged 280,815 Boepd, with crude oil volumes of 158,793 Bopd in Q3 2024, representing a significant increase from 207,187 Boepd in Q2 2024[95] - Lease operating expenses (LOE) were $9.56 per Boe in Q3 2024, reflecting operational efficiency[95] - The company is focused on optimizing transportation and processing costs through long-term contracts in oversupplied areas[81] Derivative Instruments and Risk Management - The company reported a net gain on derivative instruments of $52,721 thousand in Q3 2024, compared to a loss of $85,205 thousand in Q3 2023[15] - The Company reported a net gain on commodity derivatives of $54,143 thousand for the three months ended September 30, 2024, compared to a loss of $91,483 thousand for the same period in 2023[46] - The Company has fixed-price swaps for crude oil volumes totaling 460,000 Bbls at an average price of $73.82 for 2024[42] - As of September 30, 2024, total derivative assets amounted to $123,697 thousand, with $86,654 thousand net after offsets[48] Tax and Regulatory Matters - The effective tax rate for the three months ended September 30, 2024, was 26.1%, higher than the statutory federal rate of 21% due to state income taxes[67] - The company is currently evaluating the impact of new accounting standards and SEC rules on its financial statements and disclosures[30] Market Commitments - The company has volume commitment agreements requiring the delivery of approximately 49.7 million barrels of crude oil, 8.6 million barrels of NGLs, and 492.4 billion cubic feet of natural gas[80] - Future commitments under these agreements total approximately $629.1 million over the next five years, with the highest commitment of $158.2 million in Year 2[81]

November 6, 2024 Durable Free Cash Flow Generation with Improving Returns Important Disclosures Forward-Looking and Cautionary Statements Certain statements in this presentation, other than statements of historical facts, that address activities, events or developments that Chord expects, believes or anticipates will or may occur in the future, including any statements regarding the benefits and synergies of the Enerplus combination, future opportunities for Chord, future financial performance and condition ...

Financial Data and Key Metrics Changes - Chord Energy reported adjusted free cash flow of approximately $312 million for Q3 2024, with strong oil volumes and lower capital expenditures contributing to this upside [10][39] - Operating expenses were below expectations, with lease operating expenses (LOE) at $9.56 per BOE, reflecting better downtime and lower workover costs [42] - Capital expenditures for the quarter were $329 million, below the low end of guidance, indicating operational efficiencies [43] Business Line Data and Key Metrics Changes - Oil volumes for Q3 were at the top end of guidance, driven by strong execution and well performance [9] - The company expects a fourth quarter oil guidance of approximately 152,000 barrels per day, reflecting an increase of about 600 barrels a day on a pro forma basis [44][45] - The divestiture of DJ Basin assets is expected to fund acquisition opportunities and share repurchases, indicating a strategic shift in asset management [12][13] Market Data and Key Metrics Changes - Oil realizations in Q3 averaged about $1.50 below WTI, while natural gas realizations were below the low end of the guidance at 20% of Henry Hub [40] - The company noted that AECO pricing dislocation negatively impacted natural gas realizations, which are expected to improve with recent pricing trends [41][46] Company Strategy and Development Direction - Chord Energy aims to hold oil volumes steady at 152,000 to 153,000 barrels per day from 2025 through 2027, with annual capital expenditures of $1.4 billion [14] - The company is focused on integrating Enerplus assets to drive synergies and enhance capital efficiency, capturing over $200 million in annual synergies [15][35] - Chord is committed to sustainable energy production and has published its 2023 sustainability report, highlighting efforts in emissions reduction and corporate governance [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's operational performance and the ability to deliver on its three-year plan, emphasizing continuous improvement and efficiency gains [50] - The management acknowledged the impact of recent wildfires in North Dakota but indicated that production curtailments were short-lived [8][7] - The company is optimistic about the Williston Basin's investment attractiveness, countering misconceptions about the Bakken's cost of supply [17][16] Other Important Information - Chord repurchased $146 million of shares during the quarter, representing 93% of capital return, and plans to continue buybacks in the current valuation environment [11] - The company has shifted to longer laterals and wider spacing, which has improved capital efficiency and reduced decline rates [34][30] Q&A Session Summary Question: Are there various commodity price scenarios where you would alter the suggested spend? - Management indicated that the plan is geared around the current commodity price environment and would respond to market signals accordingly [54][55] Question: How do you see well breakeven across different regions? - Management noted similar returns and investment opportunities across different regions, with a focus on wider spacing and longer laterals [58] Question: Can you provide color on updated 3-mile EURs? - Management expressed confidence in the performance of 3-mile laterals, attributing improvements to successful cleaning out to the toe of the wells [60][62] Question: How do you think about the mix of properties across the Bakken? - Management expects a mix of operated and non-operated wells, with a slight decrease in operated well count due to increased lateral lengths [76] Question: What percent of the program will simul-frac migrate towards? - Management indicated that simul-frac will be a significant part of the next year's plan, enhancing efficiency [80] Question: How do you think about spacing on Enerplus acreage? - Management stated that spacing will be similar to current practices but may vary based on subsurface geology [88][87]