Market Overview - Volatile markets are prompting investors to seek stability through dividend stocks, which offer both upside potential and solid income [1] - Recent U.S.-China tariff agreement provides some relief, but concerns about steep duties under the Trump administration persist [1] Chord Energy (CHRD) - Chord Energy is highlighted as a top dividend pick, reporting solid Q1 2025 results due to better-than-expected well performance and strong cost control [3][4] - The company returned 100% of its adjusted free cash flow to shareholders through share repurchases and declared a base dividend of $1.30 per share, resulting in a 6.8% dividend yield [4] - Analyst Gabriele Sorbara from Siebert Williams Shank maintains a buy rating and raises the price target to $125, citing attractive assets and strong free cash flow [5][8] - Chord Energy reduced its 2025 capital expenditure outlook by $30 million while maintaining production guidance, supported by operational efficiencies [6][7] Chevron (CVX) - Chevron reported Q1 results reflecting lower oil prices, with a slowdown in stock buybacks expected in Q2 2025 due to tariff issues and OPEC+ supply increases [9][12] - The company returned $6.9 billion to shareholders in Q1 through share repurchases of $3.9 billion and dividends of $3.0 billion, offering a 4.8% dividend yield [11] - Analyst Neil Mehta from Goldman Sachs trimmed the price target to $174 but reaffirmed a buy rating, highlighting strong free cash flow generation from major projects [12][13] EOG Resources (EOG) - EOG Resources reported strong Q1 2025 earnings, returning $1.3 billion to shareholders, including $538 million in dividends and $788 million in share repurchases [15][16] - The company declared a dividend of $0.975 per share, resulting in a 3.4% dividend yield, and plans to continue returning at least 100% of free cash flow to shareholders [16][19] - Analyst Scott Hanold from RBC Capital reaffirmed a buy rating with a price target of $145, noting a 3% reduction in capital budget and a 0.6% decrease in organic oil production [17][20]

Group 1 - Chord Energy (NASDAQ: CHRD) was formed from the merger of Whiting Petroleum and Oasis Petroleum, and it has since acquired Bakken assets from Exxon Mobil (XOM) [1] - In the previous year, Chord Energy acquired Enerplus for $3.8 billion, which also had significant assets in the US Bakken region [1] - Laura Starks, founder and CEO of Starks Energy Economics, has extensive experience in energy investments and covers various sectors including oil and natural gas [1]

[PART I — FINANCIAL INFORMATION](index=6&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) [Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20%E2%80%94%20Financial%20Statements%20%28Unaudited%29) For Q1 2025, Chord Energy reported total revenues of **$1.22 billion** and net income of **$219.8 million**, reflecting the significant impact of the Enerplus acquisition on financial performance and asset base [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, total assets were **$13.06 billion**, with total liabilities at **$4.44 billion** and stockholders' equity at **$8.62 billion**, reflecting minor shifts from year-end 2024 due to share repurchases and dividends Condensed Consolidated Balance Sheet Summary (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $1,597,288 | $1,579,118 | | **Total Property, Plant and Equipment, net** | $10,714,708 | $10,686,169 | | **Total Assets** | **$13,058,608** | **$13,032,007** | | **Total Current Liabilities** | $1,803,199 | $1,683,978 | | **Long-Term Debt** | $798,824 | $842,600 | | **Total Liabilities** | **$4,439,944** | **$4,329,745** | | **Total Stockholders' Equity** | **$8,618,664** | **$8,702,262** | [Condensed Consolidated Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 total revenues increased to **$1.22 billion** with net income of **$219.8 million**, driven by the Enerplus acquisition, though diluted EPS decreased to **$3.66** due to higher shares outstanding Statement of Operations Summary (in thousands, except per share data) | Metric | Three Months Ended Mar 31, 2025 | Three Months Ended Mar 31, 2024 | | :--- | :--- | :--- | | **Total Revenues** | $1,215,047 | $1,085,260 | | Oil, NGL and gas revenues | $1,103,425 | $748,162 | | **Total Operating Expenses** | $882,567 | $813,623 | | **Operating Income** | $337,996 | $272,939 | | **Net Income** | **$219,837** | **$199,353** | | **Diluted EPS** | **$3.66** | **$4.65** | | Weighted Average Diluted Shares | 59,665 | 42,747 | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly increased to **$656.9 million** in Q1 2025, while investing and financing activities resulted in net cash outflows primarily for capital expenditures, debt repayments, and share repurchases Cash Flow Summary (in thousands) | Cash Flow Activity | Three Months Ended Mar 31, 2025 | Three Months Ended Mar 31, 2024 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $656,893 | $406,698 | | **Net cash used in investing activities** | ($292,270) | ($204,887) | | **Net cash used in financing activities** | ($365,819) | ($223,455) | | **Decrease in cash and cash equivalents** | ($1,196) | ($21,644) | | **Cash and cash equivalents, end of period** | $35,754 | $296,354 | [Note 8: Acquisitions](index=19&type=section&id=Note%208.%20Acquisitions) The company completed the Enerplus Corporation acquisition on May 31, 2024, for approximately **$4.61 billion**, primarily allocating **$5.25 billion** to oil and gas properties and recognizing **$530.6 million** in goodwill Enerplus Acquisition Purchase Price Consideration (in thousands) | Component | Amount | | :--- | :--- | | Common stock issued to Enerplus shareholders | $3,732,137 | | Cash paid to Enerplus shareholders | $375,813 | | Cash paid to settle Enerplus equity-based awards | $102,393 | | Cash paid to settle Enerplus credit facility | $395,000 | | Cash paid for retention bonus to Enerplus employees | $5,920 | | **Total consideration transferred** | **$4,611,263** | - The acquisition was accounted for using the acquisition method, with assets and liabilities recorded at fair value, and the purchase price allocation remains preliminary and subject to change for up to one year[71](index=71&type=chunk)[72](index=72&type=chunk) - Unaudited pro forma results for Q1 2024, assuming the acquisition occurred on January 1, 2023, show revenues of **$1.42 billion** and net income of **$259.0 million**[75](index=75&type=chunk)[76](index=76&type=chunk) [Note 10: Long-Term Debt](index=21&type=section&id=Note%2010.%20Long-Term%20Debt) In March 2025, the company issued **$750.0 million** of 6.750% senior notes due 2033, using proceeds to repurchase **$400.0 million** of 2026 notes and repay credit facility borrowings, resulting in total long-term debt of **$798.8 million** - Issued **$750.0 million** of 6.750% senior unsecured notes due 2033 in a private placement on March 13, 2025[85](index=85&type=chunk) - Concurrently, the company purchased and satisfied its **$400.0 million** of 6.375% senior notes due 2026, resulting in a loss on debt extinguishment of **$3.5 million**[88](index=88&type=chunk) - As of March 31, 2025, the company had **$60.0 million** in borrowings outstanding under its credit facility and an unused borrowing capacity of **$1.9 billion**[81](index=81&type=chunk) [Note 14: Stockholders' Equity](index=24&type=section&id=Note%2014.%20Stockholders%27%20Equity) In Q1 2025, the company declared a **$1.30 per share** base cash dividend and repurchased **1,994,496 shares** for **$216.5 million** under its **$750.0 million** share repurchase program, with **$376.1 million** remaining Dividends Declared per Share | Period | Base Dividend | Variable Dividend | Total Dividend | | :--- | :--- | :--- | :--- | | Q1 2025 | $1.30 | $— | $1.30 | | Q1 2024 | $1.25 | $2.00 | $3.25 | - During Q1 2025, the company repurchased **1,994,496 shares** of common stock for a total cost of **$216.5 million**[110](index=110&type=chunk) - As of March 31, 2025, **$376.1 million** remained available under the **$750.0 million** share repurchase program authorized in October 2024[109](index=109&type=chunk)[110](index=110&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20%E2%80%94%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the significant impact of the May 2024 Enerplus acquisition on financial comparability, highlighting expanded Q1 2025 operations with **270,855 Boepd** production, strong **$1.9 billion** liquidity, and successful debt refinancing [Overview and Recent Developments](index=30&type=section&id=Overview%20and%20Recent%20Developments) The company, an independent E&P firm in the Williston Basin, averaged **270,855 Boepd** production in Q1 2025, issued **$750 million** in new senior notes, paid a **$1.30 per share** dividend, and repurchased **$216.5 million** of common stock - Production volumes averaged **270,855 Boepd** (57% oil) in Q1 2025[134](index=134&type=chunk) - Net cash from operations was **$656.9 million** and net income was **$219.8 million** in Q1 2025[134](index=134&type=chunk) - Key shareholder return activities in Q1 2025 included paying a **$1.30 per share** base dividend and repurchasing **$216.5 million** of common stock[134](index=134&type=chunk) [Results of Operations](index=31&type=section&id=Results%20of%20Operations) Q1 2025 revenues increased to **$1.22 billion** from **$1.09 billion** YoY due to higher production volumes from the Enerplus acquisition, despite lower realized crude oil prices, while operating expenses increased but LOE per Boe decreased to **$9.56** Production and Revenue Summary | Metric | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | **Total Revenues (in thousands)** | $1,215,047 | $1,454,674 | $1,085,260 | | **Average Daily Production (Boepd)** | 270,855 | 273,546 | 168,424 | | **Avg. Crude Oil Sales Price ($/Bbl)** | $69.11 | $68.79 | $75.32 | | **Avg. NGL Sales Price ($/Bbl)** | $14.18 | $10.07 | $15.09 | | **Avg. Natural Gas Sales Price ($/Mcf)** | $2.30 | $1.21 | $1.16 | Key Expenses per Boe | Expense per Boe | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | Lease operating expenses | $9.56 | $9.60 | $10.39 | | Gathering, processing & transportation | $3.01 | $2.90 | $3.52 | | Production taxes | $3.06 | $3.54 | $4.17 | - The increase in revenues and expenses in Q1 2025 compared to Q1 2024 is primarily due to the expanded operations following the Enerplus acquisition[131](index=131&type=chunk)[133](index=133&type=chunk) [Liquidity and Capital Resources](index=37&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2025, the company maintained **$1.94 billion** in available liquidity, including **$35.8 million** in cash and **$1.91 billion** in unused credit capacity, and successfully refinanced debt by issuing **$750 million** in 2033 Senior Notes - Total available liquidity was **$1,944.9 million** as of March 31, 2025, including **$35.8 million** in cash and **$1,909.2 million** of unused borrowing capacity[171](index=171&type=chunk) - In March 2025, the company issued **$750.0 million** of 6.750% senior notes due 2033 and used the proceeds to retire its 2026 senior notes and repay credit facility borrowings[180](index=180&type=chunk)[181](index=181&type=chunk) Capital Expenditures - Q1 2025 (in thousands) | Category | Amount | | :--- | :--- | | E&P | $354,781 | | Other capital expenditures | $658 | | Capitalized interest | $1,079 | | Acquisitions | $17,876 | | **Total capital expenditures** | **$374,394** | - Net cash from operating activities increased by **$250.2 million** YoY to **$656.9 million**, primarily due to expanded operations from the Enerplus acquisition[183](index=183&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=41&type=section&id=Item%203.%20%E2%80%94%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces primary market risks from commodity price fluctuations, interest rate changes, and counterparty credit risk, which are managed through hedging and dealing with high-credit-quality institutions - The company's primary market risks are commodity price fluctuations, interest rate changes, and counterparty credit risk[195](index=195&type=chunk) - A **10%** increase in crude oil prices would reduce the fair value of the unrealized derivative asset position by approximately **$63.5 million**, while a **10%** decrease would increase it by **$62.3 million**[198](index=198&type=chunk) - Interest rate risk is mainly tied to the variable-rate Credit Facility, as the **$750.0 million** in senior notes have a fixed rate, and a **100 basis point** increase in rates would not materially impact annual interest expense based on current borrowings[200](index=200&type=chunk) [Controls and Procedures](index=42&type=section&id=Item%204.%20%E2%80%94%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2025, and is currently integrating the internal controls of the recently acquired Enerplus Corporation - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of March 31, 2025[205](index=205&type=chunk) - Following the Enerplus acquisition on May 31, 2024, the company is in the process of incorporating Enerplus's controls into its internal control over financial reporting[206](index=206&type=chunk) [PART II — OTHER INFORMATION](index=43&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) [Risk Factors](index=43&type=section&id=Item%201A.%20%E2%80%94%20Risk%20Factors) The company reports no material changes to its risk factors from those disclosed in its Annual Report on Form 10-K for the year ended December 31, 2024 - There have been no material changes in risk factors from those described in the 2024 Annual Report[210](index=210&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20%E2%80%94%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2025, the company repurchased **1,994,496 shares** of common stock for **$216.5 million** under its publicly announced share repurchase program, with no unregistered equity securities sales Issuer Purchases of Equity Securities (Q1 2025) | Period | Total Shares Purchased | Average Price Paid per Share | Shares Purchased as Part of Program | | :--- | :--- | :--- | :--- | | Jan 2025 | 364,624 shares | $122.29 per share | 282,869 shares | | Feb 2025 | 309,524 shares | $111.74 per share | 275,416 shares | | Mar 2025 | 1,436,771 shares | $105.49 per share | 1,436,211 shares | | **Total** | **2,110,919 shares** | **$109.31 per share** | **1,994,496 shares** | - In Q1 2025, a total of **1,994,496 shares** were repurchased for **$216.5 million** under the share repurchase program[212](index=212&type=chunk)

Core Viewpoint - Chord Energy Corporation reported its financial and operational results for the first quarter of 2025 during a conference call held on May 7, 2025, highlighting key performance metrics and future outlook [1][2][3]. Financial Performance - The company presented its earnings results, indicating a focus on financial metrics and operational efficiency [3]. - Specific financial figures and comparisons to previous quarters were likely discussed, although not detailed in the provided text [3]. Operational Highlights - The operational results were emphasized, showcasing the company's performance in its core activities [3]. - The leadership team, including the CEO and CFO, participated in the call to provide insights into the company's strategy and operational execution [3]. Forward-Looking Statements - The company included forward-looking statements regarding its future performance, acknowledging the inherent risks and uncertainties associated with these projections [3].

Financial Data and Key Metrics Changes - The company reported adjusted free cash flow for the first quarter of approximately $291 million, maintaining shareholder returns at 100% of free cash flow for the second consecutive quarter, repurchasing $216.5 million or about 2 million shares during the quarter [8][19] - The leverage ratio remained unchanged at about 0.3 times, indicating strong balance sheet strength [9][30] - Oil differentials in the first quarter averaged $2.3 below WTI, slightly weakening from the prior quarter but within the original guidance range [31] Business Line Data and Key Metrics Changes - First quarter oil volumes were above the top end of guidance, reflecting strong execution and well performance [7] - Operating expenses came in lower than expectations, driven by improvements in cost structure [7] - The company successfully drilled and completed its first four-mile lateral, achieving a total well cost approximately $1 million below the original budget [22][24] Market Data and Key Metrics Changes - Natural gas realizations were 63%, above the top end of guidance, benefiting from seasonally strong regional prices [31] - NGL realizations were 20% of WTI in the first quarter, just above the midpoint guidance [31] Company Strategy and Development Direction - The company plans to maintain a focus on share repurchases in the current environment, given the intrinsic value of shares relative to market prices [9] - The development plan includes a shift towards longer laterals, with a goal to convert over 80% of inventory to long laterals in the coming years, enhancing economic returns [16][92] - The company is committed to continuous improvement and efficiency, with initiatives aimed at reducing controllable costs across various business segments [13][18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the pricing outlook has deteriorated and volatility has increased, but emphasized the company's operational and financial flexibility to navigate these conditions [9][19] - The company remains confident in its ability to generate significant free cash flow even at lower prices, supported by a strong balance sheet and low reinvestment rates [30][74] Other Important Information - The company announced a $30 million reduction to its full-year capital guidance, reflecting program efficiencies without impacting production targets [12][21] - The company plans to publish an updated sustainability report in the second half of the year, reflecting the integration of CORD and Enerplus [19] 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 [39][40] Question: Capital savings with the four-mile lateral program - Management expressed confidence in moving to a four-mile program quickly, citing positive results from initial wells [42][44] Question: Oil production cadence for 3Q and 4Q - Management anticipates oil production will fall as the company drops to a one crew program, with potential recovery if a second frac crew is added in the fourth quarter [46][47] Question: Maintenance capital for sustaining production rates - Management noted that maintaining a production rate of approximately 150,000 barrels per day would require a one and a half crew program [58] Question: Opportunities in marketing contracts and LOE - Management highlighted significant opportunities to renegotiate marketing contracts and improve LOE, which could positively impact free cash flow [62][66] Question: Potential footprint expansion with four-mile laterals - Management acknowledged that moving to four-mile laterals could open up previously uneconomic areas, improving overall returns [90][92]

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 ...