Chord Energy Reports Fourth Quarter and Full-Year 2025 Financial and Operating Results, Issues 2026 Outlook and Declares Base Dividend

Core Insights - Chord Energy Corporation reported strong financial and operational results for Q4 and full-year 2025, with a focus on shareholder returns and operational efficiency [1][2][3] Financial Performance - The company declared a base dividend of $5.20 per share and repurchased 3.5 million shares, reducing the fully-diluted share count by over 5% year-over-year [1] - For FY25, Chord generated approximately $160 million in incremental run-rate free cash flow through continuous improvement initiatives [1] - Q4 2025 net cash provided by operating activities was $405 million, with adjusted EBITDA of $506.4 million and adjusted free cash flow of $175 million [1][3] Operational Highlights - Chord's lease operating expenses (LOE) improved to $9.73 per barrel of oil equivalent (Boe), below initial expectations despite lower gas volumes [1] - The company successfully turned in line seven 4-mile lateral wells in FY25, with production meeting or exceeding expectations [1][2] - Chord's estimated net proved reserves increased to 917.5 million barrels of oil equivalent (MMBoe) as of December 31, 2025, including 514.7 million barrels of crude oil [2][3] 2026 Outlook - The company expects to maintain stable production levels in 2026, with oil volumes projected between 157,000 and 161,000 barrels per day and capital expenditures of approximately $1.4 billion [1][3] - Chord anticipates generating around $2.3 billion in adjusted EBITDA and $700 million in adjusted free cash flow in FY26 [3] - The 2026 capital plan includes approximately $30 million for midstream projects, focusing on water disposal to improve economics [3]