Chord Energy Reports Strong Fourth Quarter and Full-Year 2024 Financial and Operating Results, Issues 2025 Outlook and Increases Base Dividend

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].