Financial Data and Key Metrics Changes - Chord Energy reported adjusted free cash flow for Q1 2025 of approximately $291 million, maintaining shareholder returns at 100% of free cash flow for the second consecutive quarter [6][28] - The company repurchased $216.5 million worth of shares during the quarter, reducing its share count by approximately 9% since the Enerplus transaction [6][28] - Leverage remained unchanged at about 0.3 times, indicating strong balance sheet strength [7][9] Business Line Data and Key Metrics Changes - First quarter oil volumes exceeded guidance, reflecting strong execution and well performance [5] - Operating expenses were lower than expected, contributing to improved cost structure [5] - The company plans to reduce its frac crew count from two to one by early June, allowing for a more flexible operational approach [10][11] Market Data and Key Metrics Changes - Oil differentials averaged $2.3 below WTI in Q1, slightly weakening from the previous quarter but within guidance [29] - Natural gas realizations were 63%, above the top end of guidance, benefiting from strong regional prices [29] - Production taxes averaged 6.8% of commodity sales in Q1, below expectations, primarily due to a non-recurring refund for stripper wells [30] Company Strategy and Development Direction - The company is focused on increasing free cash flow through cost control and operational efficiencies, targeting approximately $3 billion in controllable costs [12] - Chord Energy aims to convert over 80% of its inventory to long laterals, which are expected to enhance economic returns and lower breakeven pricing [14][15] - The company is committed to sustainability initiatives, planning to publish an updated sustainability report later in the year [17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a deteriorating pricing outlook and increased volatility but expressed confidence in the company's operational and financial flexibility [7][8] - The company has a strong foundation and significant flexibility to adjust operations as needed, built around modest mid-cycle oil price expectations [17] - Management emphasized the importance of continuous improvement and innovation to enhance capital productivity and margins [15][16] Other Important Information - The company successfully drilled and completed its first four-mile lateral well, achieving lower costs and encouraging initial production results [20][21] - A $30 million reduction in full-year capital guidance was announced, reflecting program efficiencies without impacting production targets [19][30] Q&A Session Summary Question: Activity levels and frac crew decisions for 2026 - Management indicated that the decision to bring back a second frac crew will depend on various factors, including oil prices and capital allocation opportunities [36][37] Question: Transition to four-mile laterals - Management expressed confidence in moving to a four-mile lateral program quickly, contingent on operational success and permitting processes [40][41] Question: Oil production cadence for Q3 and Q4 - Management anticipates a decline in oil production as the company reduces activity, with a potential recovery in 2026 if conditions improve [44][45] Question: Confidence in increasing four-mile lateral wells - Positive operational results from initial four-mile wells have led to increased confidence in expanding the program [48][50] Question: Maintenance capital and growth sustainability - Management indicated that maintaining production levels would require a specific crew count, with capital implications for future growth [55][56] Question: Marketing contracts and cost reduction opportunities - Management highlighted opportunities to renegotiate marketing contracts and improve operational efficiencies to lower cash costs [60][62] Question: Addressable market for four-mile laterals - Management discussed the potential for expanding inventory and improving breakeven costs through the adoption of longer laterals [66][68] Question: M&A activity and market conditions - Management noted that rapid price movements create challenges for M&A transactions, emphasizing the need for price stability [77][78]

Core Insights - Chord Energy Corporation reported quarterly earnings of $4.04 per share, exceeding the Zacks Consensus Estimate of $3.60 per share, but down from $5.10 per share a year ago, indicating an earnings surprise of 12.22% [1] - The company posted revenues of $1.22 billion for the quarter, missing the Zacks Consensus Estimate by 8.04%, but up from $1.09 billion year-over-year [2] - Chord Energy shares have declined approximately 22.8% year-to-date, contrasting with the S&P 500's decline of 3.9% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.50, with expected revenues of $1.23 billion, and for the current fiscal year, the EPS estimate is $11.03 on revenues of $5.11 billion [7] - The estimate revisions trend for Chord Energy is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The Oil and Gas - Exploration and Production - United States industry is currently ranked in the bottom 24% of over 250 Zacks industries, indicating potential challenges for stocks in this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

May 6, 2025 Resiliency and Continuous Improvement Support Strong Long-Term Outlook 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 ...

Production and Operations - Chord Energy achieved oil production volumes of 153.7 MBopd, exceeding the high-end of guidance of 149.5 – 152.5 MBopd[7] - Natural gas volumes in the Marcellus region were 128.5 MMcfpd, with a realized price of $4.71/Mcf in 1Q25[17] - For FY25, Chord maintained production guidance while closely monitoring the macro environment for potential adjustments[12] Financial Performance - The company reported total revenues of $1,215.0 million for Q1 2025, a 12.0% increase from $1,085.3 million in Q1 2024[34] - Net income for Q1 2025 was $219.8 million, compared to $199.4 million in Q1 2024, reflecting a 10.2% year-over-year growth[34] - The operating income for Q1 2025 was $338.0 million, an increase from $272.9 million in the same period last year[34] - Adjusted EBITDA for Q1 2025 was reported at $695.5MM, with net cash provided by operating activities amounting to $656.9MM[8] - Adjusted EBITDA for Q1 2025 was $695,511, representing a 49.6% increase from $464,779 in Q1 2024[52] - Adjusted Free Cash Flow rose to $290,496, a 45.5% increase compared to $199,621 in the prior year[52] Shareholder Returns - The company returned 100% of Adjusted Free Cash Flow to shareholders, totaling $216.5MM in stock repurchases at an average price of $108.54 per share[6] - Chord declared a base dividend of $1.30 per share, payable on June 9, 2025[9] Capital Expenditures and Guidance - The company reduced its capital expenditure guidance for FY25 by $30MM to approximately $1.37B, reflecting program efficiencies[15] - Total capital expenditures (CapEx) for Q1 2025 amounted to $374.4 million, with $354.8 million allocated to exploration and production (E&P) and $17.9 million for acquisitions[18] - Capital expenditures for the quarter were $308,913, an increase from $222,149 in the same period last year[36] Debt and Liquidity - The company issued $750MM of 2033 Senior Notes at 6.75%, enhancing liquidity to over $1.9B with leverage at 0.3x[6] - As of March 31, 2025, total debt stood at $810.0 million, with $750.0 million in senior notes and $60.0 million in revolver borrowings[21] - The company’s cash and cash equivalents were $35.8 million as of March 31, 2025, down from $36.9 million at the end of 2024[21] Expenses and Costs - Chord's lease operating expense (LOE) was $9.56 per Boe, below the midpoint of guidance[6] - Cash General and Administrative (G&A) expenses were $28,349, up from $14,494 in the previous year, reflecting a 96.1% increase[44] - Cash Interest for Q1 2025 was $15,627, compared to $7,410 in Q1 2024, indicating a 110.0% increase[47] Earnings and Shares - Basic earnings per share (EPS) for Q1 2025 was $3.67, down from $4.79 in Q1 2024[34] - Diluted earnings per share decreased to $3.68 in Q1 2025 from $4.66 in Q1 2024, reflecting a decline of approximately 21.0%[57] - The diluted weighted average shares outstanding increased to 59,665,000 in Q1 2025 from 42,747,000 in Q1 2024, a rise of approximately 39.5%[57] Other Financial Metrics - The company received a contingent consideration payment of $25.0 million in Q1 2025 related to a previous asset divestiture[20] - Total assets increased to $13,058.6 million as of March 31, 2025, compared to $13,032.0 million at the end of 2024[32] - The tax rate applicable to adjustment items was 23.5% for Q1 2025, compared to 22.4% for Q1 2024[57] - The net loss on derivative instruments was $20,281,000 in Q1 2025, compared to $27,577,000 in Q1 2024, a decrease of approximately 26.6%[57] - The total impairment recorded was $1,000 in Q1 2025, significantly lower than $3,919,000 in Q1 2024, indicating a decrease of approximately 99.9%[57]

HOUSTON, May 6, 2025 /PRNewswire/ -- Chord Energy Corporation (NASDAQ: CHRD) ("Chord", "Chord Energy" or the "Company") today reported financial and operating results for the first quarter 2025.Key Takeaways and Updates: Strong Performance: Solid execution and asset performance, combined with disciplined cost control delivered Cash Flow from Operations and Adjusted Free Cash Flow(1) above expectations; Shareholder Returns: Returned 100% of Adjusted Free Cash Flow(1) to shareholders through share repurchase ...

Core Viewpoint - Chord Energy Corp. is set to announce its first quarter 2025 financial and operating results on May 6, 2025, followed by a live webcast and conference call on May 7, 2025, indicating the company's commitment to transparency and investor engagement [1][2]. Financial Results Announcement - The financial results will be disclosed after market close on May 6, 2025, with a conference call scheduled for May 7, 2025, at 10:00 a.m. Central [1]. - Investors and analysts can participate in the conference call via a live webcast or by phone, with options for both automated and operator-assisted connections [2]. Upcoming Conferences and Events - Chord Energy plans to participate in several energy conferences and investor events throughout May and June 2025, including: - TPH&Co. Hotter 'N Hell Conference on May 14-15, 2025 - Bernstein Strategic Decisions Conference on May 28-30, 2025 - RBC Capital Markets Global Energy, Power & Infrastructure Conference on June 3-4, 2025 - Bank of America Energy and Power Credit Conference on June 4-5, 2025 - JP Morgan Energy, Power, Renewables & Mining Conference on June 24-25, 2025 [3]. Company Overview - Chord Energy Corp. is an independent exploration and production company with a focus on sustainable long-lived assets in the Williston Basin, emphasizing capital discipline and free cash flow generation [3]. - The company operates efficiently and responsibly to develop unconventional onshore oil-rich resources in the continental United States, supported by a strong balance sheet [3].

Core Viewpoint - Chord Energy Corporation has announced a cash tender offer to purchase all outstanding 6.375% senior notes due 2026, with specific pricing and terms outlined in the announcement [1][2]. Offer Details - The total principal amount of the 2026 Notes being offered is $400 million, with a reference yield of 4.250% based on the U.S. Treasury [2]. - The fixed spread for the offer is 50 basis points, resulting in a consideration of $1,002.91 per $1,000 principal amount of the 2026 Notes validly tendered [2]. - The offer will expire at 5:00 p.m. New York City time on March 10, 2025, unless extended or terminated by the company [3]. Tendering Process - Holders of the 2026 Notes must validly tender their notes or submit a Notice of Guaranteed Delivery before the expiration date to receive the consideration [4]. - Accrued and unpaid interest will be paid on all validly tendered notes from the last interest payment date up to the settlement date, expected on March 13, 2025 [4]. Additional Information - Wells Fargo Securities, LLC has been retained as the dealer manager, while Global Bondholder Services Corporation acts as the tender and information agent for the offer [7]. - The offer is made solely pursuant to the terms set forth in the Offer to Purchase dated March 3, 2025, and holders are encouraged to read this document carefully [2][4].

Market Overview - Volatility has returned to Wall Street due to rising inflation, a halt in rate cuts by the Federal Reserve, and fears of a trade war following President Trump's tariff announcements [1][3][5] - Major indexes have retreated from their earlier highs in 2024, with concerns about a slowing economy [3] Federal Reserve Actions - The Federal Reserve left interest rates unchanged in January and indicated a cautious approach until inflation shows signs of cooling [4] - Market participants believe that there will be no rate cuts before the second half of the year, with expectations of only one rate cut for the entire year [4] Trade War Concerns - Trump's proposed tariffs include 25% on Canadian and Mexican imports, with both nations threatening retaliatory tariffs [5] - The ongoing trade tensions, including 10% tariffs on Chinese goods, are expected to contribute to market volatility [5] Dividend-Paying Stocks - In the current market conditions, investing in dividend-paying stocks is recommended for steady income and capital protection [2][6] - Companies that consistently distribute dividends tend to outperform those that do not in fluctuating markets [6] Company Highlights - **Vermilion Energy Inc. (VET)**: Announced a dividend of $0.09 per share with a dividend yield of 4.41%. The company has increased its dividend nine times over the past five years, with a payout ratio of 43% [7] - **Chord Energy Corporation (CHRD)**: Declared a dividend of $1.30 per share with a dividend yield of 4.93%. The company has also increased its dividend nine times in the last five years, with a payout ratio of 30% [9] - **Viper Energy, Inc. (VNOM)**: Announced a dividend of $0.65 per share with a dividend yield of 2.79%. The company has increased its dividend 14 times over the past five years, with a payout ratio of 59% [11]

Core Viewpoint - Chord Energy Corporation announced a private placement of $750 million in senior unsecured notes with a 6.750% interest rate due in 2033, aimed at financing a cash tender offer for its existing 2026 notes and other financial obligations [1][2]. Group 1: Notes Offering Details - The Notes Offering consists of $750 million in aggregate principal amount of 6.750% senior unsecured notes due 2033, priced at par [1]. - The offering is expected to close on March 13, 2025, subject to customary closing conditions [1]. - The New Notes will be unsecured and guaranteed by the Company's existing and future domestic subsidiaries [1][2]. Group 2: Use of Proceeds - The net proceeds from the Notes Offering will be used for financing a cash tender offer for all outstanding 6.375% senior unsecured notes due 2026 [2]. - Any remaining 2026 Notes after the tender offer will be redeemed around June 1, 2025, at a price of 100% of the principal amount plus accrued interest [2]. - Additional proceeds will be used to repay a portion of borrowings under the Company's Credit Facility and cover associated fees and expenses [2]. Group 3: Company Overview - Chord Energy Corporation is an independent exploration and production company focused on sustainable long-lived assets in the Williston Basin [5]. - The Company emphasizes a strong balance sheet and aims to generate free cash flow through efficient and responsible operations in the U.S. oil-rich resources [5].

HOUSTON, Texas, March 3, 2025 /PRNewswire/ -- Chord Energy Corporation (NASDAQ: CHRD) (the "Company," "we," "us," or "our"), announced today that, subject to market conditions, it intends to offer $750 million in aggregate principal amount of senior unsecured notes due 2033 (the "New Notes") in a private placement to eligible purchasers (the "Notes Offering"). The New Notes will be unsecured, senior obligations of the Company and will be guaranteed by the Company's existing subsidiaries and future domestic ...