Chord Energy (CHRD) Reports Strong Financial Results

By Tamara Parker • Wednesday, February 26 06:15 • Permanent Link

Chord Energy Corporation (NASDAQ: CHRD) has reported its financial and operating results for the fourth quarter and full-year 2024, along with its 2025 outlook. After closing the Enerplus combination, the company has repurchased 3.5 million shares of common stock through February 21, 2025, representing over 5% of shares outstanding.

The company has increased its fourth quarter 2024 base dividend to $1.30 per share, which is a 4% increase from the previous base dividend declared in November 2024. Meanwhile, for the full year 2024, Chord's oil volumes were reported at 153.0 mbopd on a pro forma basis, exceeding the original full-year outlook after the close of the Enerplus combination by 700 bopd. Moreover, the company successfully drilled its first four-mile lateral in the fourth quarter of 2024, with completion operations commencing in the first quarter of 2025.

In terms of operational and financial highlights, the company's net cash provided by operating activities was $566.5 million, and net income was $210.6 million. Adjusted EBITDA was reported at $640.1 million, and adjusted free cash flow was $276.9 million ($282.1 million excluding $5.2 million of reimbursed non-op capex).

For the 2025 outlook, Chord Energy Corporation aims to maximize free cash flow generation through strong capital efficiency. The company expects to generate approximately $2.5 billion of adjusted EBITDA and $860 million of adjusted free cash flow in 2025, based on $70/bbl WTI and $3.50/mmbtu Henry Hub.

In terms of production, Chord plans to tilt 130 – 150 gross operated wells (approximately 40% 3-mile laterals) in 2025 with an average working interest of approximately 80%. The company also anticipates oil volumes of 150.3 – 154.8 mbopd for the full year 2025.

Moreover, the company has completed its semi-annual borrowing base redetermination in February 2025, setting the borrowing base at $2.75 billion and increasing the aggregate amount of elected commitments to $2.0 billion.

Following these announcements, the company's shares moved -2.5%, and are now trading at a price of $108.56. If you want to know more, read the company's complete 8-K report here.

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