Core Viewpoint - Chord Energy Corporation (CHRD) shares have declined 2.6% following the release of second-quarter 2025 results, primarily due to weaker-than-expected earnings and a significant $539 million goodwill impairment overshadowing production growth and guidance [1][8]. Q2 Results - The company reported adjusted earnings of $1.79 per share, missing the Zacks Consensus Estimate of $1.88, and a significant decline from $4.69 in the same quarter last year [2][8]. - On a GAAP basis, the company recorded a net loss of $6.77 per share due to a $539 million non-cash goodwill impairment charge [2][8]. - Total quarterly revenues were $1,181 million, falling short of the Zacks Consensus Estimate of $1,295 million and down from $1,261 million in the prior year [2]. Operational Performance - Oil production averaged 156.7 thousand barrels per day (MBopd), an increase from 118.1 MBopd in the prior-year quarter [4]. - Total production reached 281.9 thousand barrels of oil equivalent per day (MBoepd), up from 207.2 MBoepd a year ago [4]. - Natural gas production was 425.9 million cubic feet per day (MMcf/D), up from 291.5 MMcf/D in the previous year [4]. - Natural gas liquids production totaled 54.1 MBbls/d, higher than 40.5 MBbls/d a year ago [4]. Realized Prices - The average realized crude oil price was $61.62 per barrel, down from $78.89 in the prior year [5]. - The average realized natural gas price increased to $1.10 per thousand cubic feet from 67 cents a year ago [5]. - Realized natural gas liquids price decreased to $5.80 per barrel from $9.99 in the same quarter last year [5]. Total Expenses - Lease operating expenses totaled $257 million, up from $176.6 million in the prior-year quarter [6]. - Gathering, processing, and transportation expenses increased to $74.1 million from $63.1 million in the comparable period of 2024 [6]. - Total operating expenses reached $1,583.3 million, up from $987.1 million in the previous year [6]. Balance Sheet & Liquidity - As of June 30, 2025, Chord Energy held cash and cash equivalents of $40.5 million, with long-term debt at $918.9 million [7]. - Liquidity stood at $1.83 billion, including credit facility availability [7]. - Capital expenditure amounted to $355.6 million, at the low end of the expected range [7]. Outlook for 2025 - Chord Energy expects oil production of 151.8-154.1 MBopd and total production of 272.5-278.3 MBoepd for 2025 [9]. - The company anticipates adjusted EBITDA of $2.4 billion and adjusted free cash flow of $850 million for the year [9]. - Capital expenditures for exploration and production are projected between $1.32 billion and $1.38 billion, with plans to complete 115-135 gross operated wells in Q3 2025 [9].
Chord Energy Stock Dips 2.6% Since Q2 Earnings Miss Estimates