Welcome to our dedicated page for Chord Energy news (Ticker: CHRD), a resource for investors and traders seeking the latest updates and insights on Chord Energy stock.
Overview of Chord Energy Corp
Chord Energy Corporation (CHRD) is an independent exploration and production company specializing in the acquisition, development, and exploitation of crude oil, natural gas, and natural gas liquids in the Williston Basin. Employing advanced technologies and operational efficiencies, the company has built its reputation through its strategic asset base and a commitment to rigorous capital discipline. Keywords such as capital discipline, operational efficiency, and infrastructure development illustrate its core approach in an industry marked by dynamic technological progress.
Core Business Operations
Chord Energy’s operations center on a well-defined portfolio of onshore, unconventional oil-rich resources within the Williston Basin. The company’s strategy involves a multi-faceted approach that includes:
- Aquisition and Development: Identifying, acquiring, and optimizing high-potential assets within its concentrated net acreage, ensuring that each asset contributes to long-term value creation.
- Technological Integration: Deploying state-of-the-art drilling techniques and advanced lateral development strategies, which drive productivity and enhance recovery rates.
- Operational Excellence: Steering a rigorous focus on efficiency, the company consistently seeks to maintain a conservative balance sheet while achieving significant production growth.
- Infrastructure and Synergy Capture: Investing in infrastructure development that not only supports current operations but also enables seamless integration of acquired assets to optimize overall performance.
Market Position and Competitive Landscape
Operating in an environment characterized by high capital intensity and robust competition, Chord Energy stands out by meticulously balancing rapid production growth with disciplined reinvestment practices. Its focus on free cash flow generation, efficient capital allocation, and technology-driven operational improvements distinguishes the company among its peers. Within the broader industry of oil and gas exploration, Chord Energy’s concentrated presence in the Williston Basin positions it to capitalize on the significant resource potential in key horizons such as Bakken and Three Forks.
Expertise and Industry Dynamics
Chord Energy leverages its deep industry expertise to navigate the complexities of modern energy production. The company integrates advanced drilling technologies with comprehensive geological insights, resulting in optimal asset development. This methodical approach ensures that each project is managed with precision, reflecting a blend of technical mastery and strategic market intelligence. The firm’s history of acquisitions and operational enhancements further demonstrates its commitment to producing sustainable, long-lived energy resources.
Operational Strategy and Capital Discipline
At the heart of Chord Energy’s operational philosophy is a strong emphasis on capital discipline and efficiency. The company remains steadfast in its pursuit of maintaining a robust balance sheet while investing in technology and infrastructure that yield operational synergies. This strategy not only supports current production but also fortifies its capacity to manage market fluctuations and environmental challenges through prudent financial and operational management.
Key Business Highlights
The company’s comprehensive approach includes several key initiatives:
- Focus on a highly concentrated acreage portfolio in the Williston Basin which offers significant upside potential for unconventional oil and gas plays.
- Adoption of innovative drilling and completions techniques, such as extended lateral development, to enhance well productivity and recovery rates.
- Commitment to maintaining a conservative balance sheet, ensuring that growth is sustained without compromising financial stability.
- Strategic asset acquisitions and operational integration that underscore a legacy of disciplined capital allocation and long-term value creation.
Conclusion
In summary, Chord Energy Corp exemplifies a blend of technological innovation, operational rigor, and capital discipline. Its focused strategy on optimizing an established asset base in the Williston Basin, combined with a commitment to efficiency and balanced financial management, makes the company an intriguing study in the modern landscape of oil and gas operations. Whether evaluating its advanced infrastructure or robust asset management, investors and analysts find that Chord Energy provides a detailed case study in leveraging industry advancements for sustainable energy production.
Chord Energy (NASDAQ: CHRD) has announced the pricing of its cash tender offer to purchase any and all of its outstanding 6.375% Senior Notes due 2026. The tender offer will expire at 5:00 p.m., New York City time, on March 10, 2025, unless extended or terminated by the company.
Holders must validly tender their notes or submit a Notice of Guaranteed Delivery before the expiration date to be eligible for consideration. The settlement date is expected to be March 13, 2025, with accrued and unpaid interest paid on all validly tendered and accepted notes.
Wells Fargo Securities, has been retained as the dealer manager, and Global Bondholder Services as the tender and information agent for the offer. The company may purchase additional 2026 Notes after completing this offer through various methods.
Chord Energy (NASDAQ: CHRD) has announced the pricing of a $750 million private placement of 6.750% senior unsecured notes due 2033. The notes were priced at par with an expected closing date of March 13, 2025.
The company plans to use the proceeds to:
- Finance a tender offer for its outstanding 6.375% senior notes due 2026
- Redeem any remaining 2026 notes at 100.000% of principal amount
- Repay a portion of borrowings under the company's Credit Facility
- Pay associated fees and expenses
The new notes will be unsecured, senior obligations guaranteed by Chord Energy's existing and future domestic subsidiaries that guarantee the company's senior secured revolving credit facility.
Chord Energy (NASDAQ: CHRD) has announced plans to offer $750 million in senior unsecured notes due 2033 through a private placement to eligible purchasers. The new notes will be guaranteed by the company's existing and future domestic subsidiaries that guarantee its senior secured revolving credit facility.
The proceeds will be used to:
- Finance a cash tender offer for all outstanding 6.375% senior notes due 2026
- Redeem any remaining 2026 notes at 100% of principal amount plus interest
- Repay a portion of borrowings under the company's Credit Facility
- Cover associated fees and expenses
The notes offering is subject to market conditions, and final terms may vary. While the Notes Offering is not contingent on the Tender Offer, the Tender Offer depends on the Notes Offering's completion.
Chord Energy (NASDAQ: CHRD) has launched a cash tender offer to purchase all of its outstanding 6.375% senior notes due 2026. The offer will expire on March 10, 2025, at 5:00 p.m. New York City time, unless extended.
Holders must tender their notes or submit a Notice of Guaranteed Delivery before the expiration date to receive consideration. The settlement date is expected to be around March 13, 2025. The company will pay accrued and unpaid interest on all validly tendered and accepted notes.
The tender offer will be funded through proceeds from a concurrent senior notes offering. If any 2026 notes remain outstanding after the offer, Chord Energy plans to satisfy and discharge the indenture and redeem remaining notes around June 1, 2025, at 100.000% of principal plus accrued interest.
Chord Energy (NASDAQ: CHRD) reported strong Q4 2024 and full-year results, with cash flow exceeding expectations. Q4 highlights include oil production of 153.3 MBopd and total volumes of 273.5 MBoepd, both above guidance. The company achieved $566.5MM in operating cash flow and $210.6MM in net income.
Key financial metrics include $640.1MM in Adjusted EBITDA and $276.9MM in Adjusted Free Cash Flow. Chord returned 100% of Adjusted Free Cash Flow to shareholders in Q4, with $205.0MM (73%) through share repurchases. The company increased its base dividend by 4% to $1.30 per share.
For 2025, Chord projects midpoint oil volumes of 152.5 MBopd with CapEx of $1.4B. The company expects to generate approximately $2.5B of Adjusted EBITDA and $860MM of Adjusted Free Cash Flow in 2025 (at $70/Bbl WTI). The 2025 program includes plans to turn-in-line 130-150 gross operated wells with an average working interest of approximately 80%.
Chord Energy (NASDAQ: CHRD) has announced it will release its fourth quarter and year end 2024 financial and operating results on Tuesday, February 25, 2025, after market close. The company will host a webcast and conference call on Wednesday, February 26, 2025, at 10:00 a.m. Central.
Investors can join the conference call either through automated registration or with operator assistance. A recording will be available until March 5, 2025, and can be accessed via phone or the company's website.
Additionally, Chord Energy has scheduled participation in several upcoming energy conferences between March and June 2025, including events hosted by Daniel Energy Partners, Piper Sandler, TPH&Co., Bernstein, and RBC Capital Markets.
Chord Energy (NASDAQ: CHRD) reported strong Q3 2024 results with oil volumes of 158.8 MBopd near the high-end of guidance and total volumes of 280.8 MBoepd above guidance. The company achieved $663.2MM in operating cash flow and $225.3MM in net income. Capital expenditure was $329.2MM, below guidance. The company returned $234MM to shareholders, including $146MM in share repurchases and declared a $1.44 per share dividend. Chord issued a three-year outlook (2025-2027), planning to spend $1.4B annually to maintain flat oil production. The company also completed the sale of its DJ Basin assets for $36.1MM and updated its FY24 guidance with increased oil volumes and reduced capital spending.
Chord Energy Corp. (Nasdaq: CHRD) has announced it will release its third quarter 2024 financial and operating results on Wednesday, November 6, 2024, after market close. The company will host a live webcast and conference call on Thursday, November 7, 2024, at 10:00 a.m. Central. Following the earnings release, Chord Energy will participate in several energy conferences and investor events throughout November and December 2024, including the Bank of America Global Energy Conference, Wolfe Research Conference, Capital One Securities Energy Conference, Mizuho Power, Energy & Infrastructure Conference, and Wells Fargo Midstream, Energy & Utilities Symposium.
Chord Energy (NASDAQ: CHRD) has released its 2023 Sustainability Report, highlighting the company's commitment to sustainable operations and transparent reporting. Key achievements include:
- A 9% decrease in operated Scope 1 GHG emissions intensity compared to 2022
- A 44% decrease in operated Scope 1 methane emissions intensity compared to 2022
- Joining the World Bank's Zero Routine Flaring initiative
- A 36% reduction in Total Recordable Incident Rate (TRIR) compared to 2022
- Donations of approximately $1 million to charitable organizations
The report also highlights corporate governance achievements, including 90% of directors having prior E&P experience and 100% of committee chairs being women in 2023. The report's contents were guided by frameworks such as TCFD, SASB, GRI, and AXPC ESG Metrics Framework.
Chord Energy (NASDAQ: CHRD) reported strong Q2 2024 results, with oil volumes of 118.1 MBopd at the high end of guidance. Total production reached 207.2 MBoepd, exceeding guidance. The company generated $460.9 million in net cash from operations and $213.4 million in net income. Adjusted EBITDA was $567.9 million and Adjusted Free Cash Flow was $216.1 million.
Chord completed its combination with Enerplus on May 31, 2024, creating a premier Williston Basin operator. The company expects to achieve over $200 million in annual synergies from the integration. Chord declared a base-plus-variable cash dividend of $2.52 per share and repurchased $61.7 million of shares in Q2.
For full-year 2024, Chord projects Adjusted EBITDA of $2.9 billion and Adjusted Free Cash Flow of $1.2 billion on a pro forma basis. The company updated its FY2024 guidance, increasing midpoint oil production slightly while maintaining capital expenditure targets.
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