Chord Energy Corporation (NASDAQ: CHRD) has reported its financial and operating results for the second quarter of 2025, showcasing strong performance and significant changes since the last period.
Financial Highlights: Net cash provided by operating activities was $419.8 million, with a net loss of $389.9 million ($6.77/diluted share). Adjusted EBITDA was $547.2 million, adjusted FCF stood at $140.8 million, and adjusted net income reached $103.2 million ($1.79/diluted share).
Operational Highlights: Oil volumes reached 156.7 mbopd, exceeding the high-end of the guidance. E&P and other capex totaled $355.6 million, at the low-end of the guidance.
Shareholder Returns: Chord Energy returned over 90% of adjusted FCF to shareholders through a base dividend of $1.30 per share and share repurchases. The company repurchased $55.0 million of common stock in 2Q25 at an average price of $90.80/share and an additional $45.2 million subsequent to 2Q25 through August 1, 2025, reducing the share count by 10% on a fully-diluted basis since the Enerplus closing.
2025 Outlook Update: Chord Energy raised its FY25 oil production guidance by 500 bopd and reduced capital by $20 million at the midpoint of guidance. The company updated its FY25 guidance, implying a ~20% improvement in adjusted FCF and ~25% improvement in adjusted FCF per share compared to the February outlook (normalized for commodity pricing). * Chord plans to return a second completions crew in 4Q25 and is on track to til 115 – 135 gross operated wells (~80% working interest) in FY25.
Return of Capital: Chord declared a base dividend of $1.30 per share of common stock, payable on September 8, 2025, to shareholders of record as of August 21, 2025. The company repurchased 605,621 shares of common stock at a weighted average price of $90.80 per share totaling $55.0 million in 2Q25, representing 100% of shareholder returns after the base dividend.
2025 Outlook Highlights: Oil volumes were raised by 500 bopd to 153.0 mbopd at the midpoint, driven by strong well performance and improved uptime. E&P and other capex were lowered by $20 million to $1.35 billion at the midpoint, now $50 million below the original plan. * Adjusted FCF for FY25 is increasing by ~$120 million (~20%) from the original plan, driven by improved capital efficiency and lower operating costs.
Chord Energy's president and chief executive officer, Danny Brown, emphasized the company's operational excellence and strong execution, leading to increased production guidance and reduced capital, positioning the company to drive continuous improvement amidst commodity volatility.
These results and updates reflect Chord Energy's commitment to delivering value to its shareholders while maintaining operational efficiency and capital discipline in a volatile market environment. The market has reacted to these announcements by moving the company's shares -1.5% to a price of $104.84. For the full picture, make sure to review Chord Energy Corp's 8-K report.
