HOUSTON, April 23, 2025 /PRNewswire/ -- Chord Energy Corp. (Nasdaq: CHRD) ("Chord" or the "Company") plans to announce its first quarter 2025 financial and operating results on Tuesday, May 6, 2025 after market close. The Company will host a live webcast and conference call on Wednesday, May 7, 2025 at 10:00 a.m. Central.Investors, analysts and other interested parties are invited to listen to the webcast: Date: Wednesday, May 7, 2025 Time: 10:00 a.m. Central Live Webcast: https://app.webinar.ne ...

Core Viewpoint - Chord Energy Corporation has announced a cash tender offer to purchase all outstanding 6.375% senior notes due 2026, with specific pricing and terms outlined in the announcement [1][2]. Offer Details - The total principal amount of the 2026 Notes being offered is $400 million, with a reference yield of 4.250% based on the U.S. Treasury [2]. - The fixed spread for the offer is 50 basis points, resulting in a consideration of $1,002.91 per $1,000 principal amount of the 2026 Notes validly tendered [2]. - The offer will expire at 5:00 p.m. New York City time on March 10, 2025, unless extended or terminated by the company [3]. Tendering Process - Holders of the 2026 Notes must validly tender their notes or submit a Notice of Guaranteed Delivery before the expiration date to receive the consideration [4]. - Accrued and unpaid interest will be paid on all validly tendered notes from the last interest payment date up to the settlement date, expected on March 13, 2025 [4]. Additional Information - Wells Fargo Securities, LLC has been retained as the dealer manager, while Global Bondholder Services Corporation acts as the tender and information agent for the offer [7]. - The offer is made solely pursuant to the terms set forth in the Offer to Purchase dated March 3, 2025, and holders are encouraged to read this document carefully [2][4].

Market Overview - Volatility has returned to Wall Street due to rising inflation, a halt in rate cuts by the Federal Reserve, and fears of a trade war following President Trump's tariff announcements [1][3][5] - Major indexes have retreated from their earlier highs in 2024, with concerns about a slowing economy [3] Federal Reserve Actions - The Federal Reserve left interest rates unchanged in January and indicated a cautious approach until inflation shows signs of cooling [4] - Market participants believe that there will be no rate cuts before the second half of the year, with expectations of only one rate cut for the entire year [4] Trade War Concerns - Trump's proposed tariffs include 25% on Canadian and Mexican imports, with both nations threatening retaliatory tariffs [5] - The ongoing trade tensions, including 10% tariffs on Chinese goods, are expected to contribute to market volatility [5] Dividend-Paying Stocks - In the current market conditions, investing in dividend-paying stocks is recommended for steady income and capital protection [2][6] - Companies that consistently distribute dividends tend to outperform those that do not in fluctuating markets [6] Company Highlights - **Vermilion Energy Inc. (VET)**: Announced a dividend of $0.09 per share with a dividend yield of 4.41%. The company has increased its dividend nine times over the past five years, with a payout ratio of 43% [7] - **Chord Energy Corporation (CHRD)**: Declared a dividend of $1.30 per share with a dividend yield of 4.93%. The company has also increased its dividend nine times in the last five years, with a payout ratio of 30% [9] - **Viper Energy, Inc. (VNOM)**: Announced a dividend of $0.65 per share with a dividend yield of 2.79%. The company has increased its dividend 14 times over the past five years, with a payout ratio of 59% [11]

Core Viewpoint - Chord Energy Corporation announced a private placement of $750 million in senior unsecured notes with a 6.750% interest rate due in 2033, aimed at financing a cash tender offer for its existing 2026 notes and other financial obligations [1][2]. Group 1: Notes Offering Details - The Notes Offering consists of $750 million in aggregate principal amount of 6.750% senior unsecured notes due 2033, priced at par [1]. - The offering is expected to close on March 13, 2025, subject to customary closing conditions [1]. - The New Notes will be unsecured and guaranteed by the Company's existing and future domestic subsidiaries [1][2]. Group 2: Use of Proceeds - The net proceeds from the Notes Offering will be used for financing a cash tender offer for all outstanding 6.375% senior unsecured notes due 2026 [2]. - Any remaining 2026 Notes after the tender offer will be redeemed around June 1, 2025, at a price of 100% of the principal amount plus accrued interest [2]. - Additional proceeds will be used to repay a portion of borrowings under the Company's Credit Facility and cover associated fees and expenses [2]. Group 3: Company Overview - Chord Energy Corporation is an independent exploration and production company focused on sustainable long-lived assets in the Williston Basin [5]. - The Company emphasizes a strong balance sheet and aims to generate free cash flow through efficient and responsible operations in the U.S. oil-rich resources [5].

HOUSTON, Texas, March 3, 2025 /PRNewswire/ -- Chord Energy Corporation (NASDAQ: CHRD) (the "Company," "we," "us," or "our"), announced today that, subject to market conditions, it intends to offer $750 million in aggregate principal amount of senior unsecured notes due 2033 (the "New Notes") in a private placement to eligible purchasers (the "Notes Offering"). The New Notes will be unsecured, senior obligations of the Company and will be guaranteed by the Company's existing subsidiaries and future domestic ...

Production and Financial Performance - Production volumes averaged 232,737 Boepd (57% oil) for the year ended December 31, 2024[367]. - Total revenues for the year ended December 31, 2024, increased to $5.25 billion, up from $3.90 billion in 2023, representing a 34.8% increase[369]. - Crude oil revenues rose by $735.4 million to $3.57 billion, primarily due to higher production volumes from expanded operations[370]. - Average daily production increased to 232,737 Boepd in 2024, compared to 173,425 Boepd in 2023, marking a 34.2% increase[369]. - NGL revenues decreased by $15.7 million to $162.1 million, primarily due to lower realized prices, despite higher production volumes[371]. - Natural gas revenues fell by $16.0 million to $102.8 million, driven by lower realized prices, offset by increased production volumes[372]. - Total operating expenses rose to $4.17 billion in 2024, up from $2.62 billion in 2023, reflecting a 59.1% increase[375]. - Net income for the year ended December 31, 2024, was $848.6 million, down from $1.02 billion in 2023, a decrease of 16.9%[375]. - Operating income for 2024 was $1,100,067, a decrease of 14% compared to $1,273,182 in 2023[478]. - Net income from continuing operations was $848,627, down 17% from $1,023,779 in 2023[478]. - Basic earnings per share from continuing operations decreased to $16.32, down 34% from $24.59 in 2023[478]. Capital Expenditures and Investments - E&P and other capital expenditures were $1.2 billion for the year ended December 31, 2024[367]. - Capital expenditures for 2024 were $1,179,075, an increase from $905,673 in 2023[483]. - The company incurred merger-related costs of $89.3 million during the year ended December 31, 2024, primarily for legal and advisory services[392]. - Total capital expenditures from continuing operations for the year ended December 31, 2024, were $1.252 billion, slightly down from $1.288 billion in 2023[413]. - The company completed the acquisition of Enerplus Corporation on May 31, 2024, with Enerplus shareholders receiving 0.10125 shares of Chord common stock and $1.84 in cash per share[488][490]. - The company recorded $5.3 billion related to oil and gas properties in the acquisition of Enerplus, with fair value calculated using an income approach based on net discounted cash flows[468]. Dividends and Share Repurchase - Paid $10.15 per share base-plus-variable cash dividend for the year ended December 31, 2024[367]. - Declared a base cash dividend of $1.30 per share of common stock on February 25, 2025, payable on March 26, 2025[367]. - The company declared base-plus-variable cash dividends of $10.15 per share, totaling $507.6 million for the year ended December 31, 2024[415]. - Repurchased $442.8 million of common stock during the year ended December 31, 2024, with $592.6 million remaining under the new $750 million share repurchase program[367]. - During the year ended December 31, 2024, the company repurchased 3,114,007 shares at a weighted average price of $142.20 per share, totaling $442.8 million[418]. Liquidity and Debt - As of December 31, 2024, the company had $1.1 billion in liquidity, including $37.0 million in cash and cash equivalents and $1.0 billion in unused borrowing capacity[389]. - The company had $400.0 million of 6.375% senior unsecured notes maturing on June 1, 2026, as of December 31, 2024[402]. - As of December 31, 2024, the company had a senior secured revolving credit facility with a borrowing base of $3.0 billion and net borrowings of $445.0 million[400]. - The company’s long-term debt increased to $842.6 million in 2024 from $395.9 million in 2023, indicating increased leverage[474]. - Cash and cash equivalents at the end of 2024 were $36,950,000, down from $317,998,000 at the end of 2023[484]. Operating Costs and Expenses - Lease operating expenses ("LOE") were $9.68 per Boe for the year ended December 31, 2024[367]. - Depreciation, depletion, and amortization expenses increased to $1.11 billion, up from $598.6 million, primarily due to expanded operations[380]. - Interest expense increased by $27.9 million to $56.5 million for the year ended December 31, 2024, primarily due to higher borrowings under the Credit Facility[386]. - Total operating expenses rose to $4,168,103, a 59% increase from $2,620,695 in 2023[478]. - Cash paid for interest in 2024 was $49,509,000, significantly higher than $26,371,000 in 2023[484]. Reserves and Production Metrics - Estimated net proved reserves were 883.0 MMBoe as of December 31, 2024, with a Standardized Measure of $8.4 billion and PV-10 of $10.3 billion[367]. - TIL'd 142 gross (93 net) operated wells for the year ended December 31, 2024[367]. - The production tax rate increased to 8.7% in 2024 from 8.3% in 2023, driven by new wells with higher associated oil production tax rates[379]. - The SEC Price for crude oil was $75.48 per Bbl and $2.13 per MMBtu for natural gas for the year ended December 31, 2024[424]. Market and Credit Risks - The Company faces market and credit risks related to crude oil, NGLs, and natural gas prices, which can be volatile and affect financial performance[543]. - The Company believes credit-related losses from economic fluctuations will remain immaterial to its long-term results[544]. - The Company manages market and counterparty credit risk, maintaining high credit quality among its customers and limiting exposure to any single financial institution[545]. Internal Controls and Reporting - The company’s internal control over financial reporting was assessed with Enerplus excluded due to its acquisition, highlighting the impact of significant acquisitions on financial reporting processes[460]. - The Company accounts for business combinations under the acquisition method, recognizing identifiable assets and liabilities at estimated acquisition date fair value[522]. - The Company recognizes revenue in accordance with FASB ASC 606, with revenues predominantly derived from contracts for the sale of crude oil, NGLs, and natural gas[530].

Financial Data and Key Metrics Changes - In 2024, Chord Energy returned $944 million to shareholders, with a significant portion through share repurchases, reflecting a strong commitment to capital discipline and shareholder returns [13][14] - The adjusted free cash flow for Q4 2024 was approximately $282 million, exceeding expectations due to strong volumes and cost control [39] - The company increased its base dividend by 4% to $1.30 per share [17] Business Line Data and Key Metrics Changes - Chord's oil production per share grew at a 12% compounded annual growth rate over the last three years, demonstrating effective capital-efficient development [14] - Fourth quarter oil volumes were above the midpoint of guidance, indicating strong operational performance [15][40] Market Data and Key Metrics Changes - Oil realization in Q4 averaged about $1.50 below WTI, with expectations for widening differentials in Q1 2025 due to increased basin production [40] - NGL realizations were 14% from WTI, near the top end of guidance, while natural gas realizations were stronger than expected at 43% of Henry Hub [41] Company Strategy and Development Direction - Chord Energy solidified its leading position in the Williston Basin through a combination with Enerplus, focusing on operational synergies and best practices [10] - The company plans to maintain a capital-efficient development program in 2025, with expectations to run a maintenance capital program and decrease rig count mid-year [18][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong inventory and low-cost structure, projecting approximately $860 million of free cash flow in 2025 [21] - The company remains focused on sustainability and operational efficiency, aiming to minimize environmental impact while delivering reliable energy [23] Other Important Information - Chord successfully drilled and completed its first four-mile lateral well, indicating progress in operational capabilities and potential for future efficiency gains [27][72] - The company completed its semiannual borrowing base redetermination, setting the borrowing base at $2.75 billion [47] Q&A Session Summary Question: Can you provide context around your outlook for capital in 2025? - Management indicated that the 2025 capital outlook is conservative and does not include potential efficiency improvements, with several factors that could drive capital lower [50][52] Question: Is the simulfrac included in the plan for 2025? - The full crew is performing simulfracs, while the partial crew is not, with expectations for efficiency improvements [58][59] Question: Can you discuss shareholder returns and the potential for buybacks? - Management confirmed a capital allocation decision to continue returning 100% of free cash flow to shareholders, with a focus on buybacks given the current stock valuation [60][62] Question: What operational challenges were observed with the first four-mile lateral? - The first four-mile well was completed successfully without significant issues, indicating strong operational performance [72] Question: What are the expectations for operational efficiencies moving forward? - Management expects continued improvements in efficiency as the company gains more experience with three-mile and four-mile laterals [80][81] Question: How does the company view the M&A landscape? - Management remains patient regarding M&A opportunities, focusing on transactions that deliver true shareholder value [86] Question: What is the outlook for gas production from the non-op Marcellus position? - Management views the Marcellus asset positively but emphasizes it is not a core part of the portfolio, focusing on maximizing shareholder value [110][111]

Chord Energy Corporation (NASDAQ:CHRD) Q4 2024 Earnings Conference Call February 26, 2025 11:00 AM ET Company Participants Bob Bakanauskas - Vice President of Investor Relations Daniel Brown - President and Chief Executive Officer Darrin Henke - Executive Vice President and Chief Operating Officer Richard Robuck - Executive Vice President and Chief Financial Officer Michael Lou - Executive Vice President, Chief Strategy Officer and Chief Commercial Officer Conference Call Participants Scott Hanold - RBC Cap ...

February 25, 2025 Consistent Delivery and Strong Returns at Attractive Valuation 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 co ...

Chord Energy Corporation (CHRD) reported $1.45 billion in revenue for the quarter ended December 2024, representing a year-over-year increase of 50.8%. EPS of $3.49 for the same period compares to $5.25 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.1 billion, representing a surprise of +31.85%. The company delivered an EPS surprise of +26.91%, with the consensus EPS estimate being $2.75.While investors closely watch year-over-year changes in headline numbers -- revenue and e ...