Chord Energy Corporation (CHRD) ), a U.S. oil and gas producer, signed an agreement to acquire Calgary-based Enerplus Corporation (ERF) in a stock-and-cash transaction. The combined entity — with an enterprise value of approximately $11 billion — will acquire a premier position in the Williston basin. This basin has approximately 1.3 million net acres in area and registered a production of 287,000 barrels of oil equivalent per day in the fourth quarter of 2023. After the merger, the new company will be able ...

Chord Energy Corporation (NASDAQ:CHRD) Chord Energy Strategic Combination with Enerplus and Q4 2023 Earnings Conference Call February 21, 2024 6:00 PM ET Company Participants Michael Lou – Executive Vice President and Chief Financial Officer, Chord Energy Danny Brown – President and Chief Executive Officer, Chord Energy Ian Dundas – President and Chief Executive Officer, Enerplus Darrin Henke – Executive Vice President and Chief Operating Officer Conference Call Participants Derrick Whitfield – Stifel Neal ...

For the quarter ended December 2023, Chord Energy Corporation (CHRD) reported revenue of $964.69 million, down 5% over the same period last year. EPS came in at $5.25, compared to $5.28 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $891.67 million, representing a surprise of +8.19%. The company delivered an EPS surprise of +4.17%, with the consensus EPS estimate being $5.04.While investors scrutinize revenue and earnings changes year-over-year and how they compare ...

Chord Energy Corporation (CHRD) came out with quarterly earnings of $5.25 per share, beating the Zacks Consensus Estimate of $5.04 per share. This compares to earnings of $5.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.17%. A quarter ago, it was expected that this company would post earnings of $5.22 per share when it actually produced earnings of $5.04, delivering a surprise of -3.45%.Over the last four quarters, the ...

HOUSTON, Feb. 21, 2024 /PRNewswire/ -- Chord Energy Corporation (NASDAQ: CHRD) ("Chord", "Chord Energy" or the "Company") today reported financial and operating results for the fourth quarter and full-year 2023 and announced its 2024 outlook. Operational and Financial Highlights: Oil volumes of 106.2 MBopd and total volumes of 183.8 MBoepd in 4Q23 both exceeded the high-end of guidance. FY23 oil volumes were 99.8 MBopd with total volumes of 173.4 MBoepd; E&P and other CapEx of $208.8MM in 4Q23 (including $ ...

Enhanced Operating Scale to Drive Returns and Free Cash Flow; Combined Acreage PositionTotaling 1.3 Million Net Acres and Combined 4Q23 Production of 287,000 Boepd Combined Company has Approximately 10 years of Low-Breakeven Inventory with Significant Opportunity to Enhance Returns through Efficiencies and Expanding Three-Mile Lateral Opportunities Transaction Accretive to Key Metrics While Preserving Low Leverage; Strong Balance Sheet and Significant Liquidity at Close Transaction Expected to Generate Admi ...

Exhibit 99.1 Chord Energy Reports Fourth Quarter and Full-Year 2023 Financial and Operating Results, Declares Base and Variable Dividends and Issues 2024 Outlook Houston, Texas — February 21, 2024 — Chord Energy Corporation (NASDAQ: CHRD) ("Chord", "Chord Energy" or the "Company") today reported financial and operating results for the fourth quarter and full-year 2023 and announced its 2024 outlook. Operational and Financial Highlights: • Oil volumes of 106.2 MBopd and total volumes of 183.8 MBoepd in 4Q23 ...

HOUSTON, Feb. 14, 2024 /PRNewswire/ -- Chord Energy Corp. (Nasdaq: CHRD) ("Chord" or the "Company") plans to announce its fourth quarter and full-year 2023 financial and operating results on Wednesday, February 21, 2024 after market close. The Company will host a live webcast and conference call on Thursday, February 22, 2024 at 10:00 a.m. Central.Investors, analysts and other interested parties are invited to listen to the webcast:Date: Thursday, February 22, 2024Time: 10:00 a.m. CentralLive Webcast: https ...

Financial Data and Key Metrics Changes - In Q3 2023, the company reported strong oil volumes, approximately 4.5% above midpoint guidance, and total volumes were about 3.8% above midpoint guidance [1] - The company generated $207 million of adjusted free cash flow during the quarter and plans to return 75% of this to shareholders [9] - The company declared a variable dividend of $1.25 per share, in addition to a base dividend of $1.25 per share [10] - Operating costs included LOE at $10.94 per BOE and GPT at $3.16 per BOE, both within guidance expectations [19] Business Line Data and Key Metrics Changes - The company brought 45 wells online in Q3, exceeding original expectations and significantly higher than the 37 wells brought online in the first half of the year [26] - Incremental repurchases during the quarter were sourced from proceeds received through warrant exercises [11] - The company executed about 50 three-mile wells to date, with performance meeting expectations [30] Market Data and Key Metrics Changes - Oil realizations remained strong at a modest premium to WTI, slightly better than midpoint guidance [18] - NGL realizations as a percent of WTI were in line with midpoint guidance, while residue gas pricing was slightly below midpoint [53] Company Strategy and Development Direction - The company is focused on in-basin consolidation opportunities, recognizing higher risks associated with out-of-basin consolidation [2] - The company plans to participate in consolidation, whether as a consolidator or consolidatee, emphasizing the importance of being part of a larger equity story [51][74] - The company published its first full sustainability report, reflecting its commitment to delivering energy sustainably [34] Management's Comments on Operating Environment and Future Outlook - Management expressed growing confidence in production performance and the potential for improved contributions from three-mile wells [46][64] - The company expects capital expenditures to be at the high end of the $850 million to $880 million guidance range for the year [20] - For 2024, the company anticipates a maintenance capital program with full-year volumes flat to 2023, projecting around 99,000 barrels of oil per day [60] Other Important Information - The company completed its fall borrowing base redetermination, maintaining a borrowing base of $2.5 billion and an elected commitment of $1 billion [41] - The company received approximately $73 million from warrant exercises in Q3, using $60 million for incremental repurchases [40] Q&A Session Summary Question: What is the confidence level regarding the performance of the last mile on three-mile wells? - Management indicated growing confidence in production performance, with expectations for contributions to improve as more data is collected [62][64] Question: How does M&A fit into the company's strategy? - Management emphasized a belief in consolidation and the importance of in-basin consolidation, given their significant acreage position [73][74] Question: What are the implications of the underlying decline rate for 2024 and 2025 CapEx? - Management suggested that with a lower decline rate, capital efficiency should improve, potentially leading to lower CapEx requirements [85][94]

Commodity derivative contracts. The Company utilizes derivative financial instruments to manage risks related to changes in commodity prices. The Company's crude oil contracts settle monthly based on the average NYMEX WTI and its natural gas contracts settle monthly based on the average NYMEX Henry Hub natural gas index price. The Company utilizes fixed-price swaps and two-way and three-way collars to manage risks related to changes in commodity prices. The Company's fixed-price swaps are designed to establ ...