Chord Energy Corp

2023 was a pivotal year for the Company as three-mile wells were approximately 50% of the mix, and execution and well performance continued to meet or exceed expectations. Chord's deep inventory generates compelling economics and allows for low reinvestment rates, robust free cash flow and attractive return of capital.

In 2023, Chord returned $646MM to shareholders through a mix of base and variable dividends supplemented by opportunistic share repurchases. As shown below, on the basis of TSR, the Company continued to outperform in 2023.

Executive Compensation Matters

The Company’s TSR was 32% for 2023 while the average TSR for the Company’s oil peers, on an aggregate basis, was 13% for 2023, the TSR for SPDR S&P Oil & Gas Exploration & Production ETF (XOP) was $4% for 2023, and the TSR for the WTI Crude Oil Spot Price was -10% for 2023. For purposes of the above chart, the Company’s oil peers as of December 31, 2023, consist of Civitas Resources, Inc., Matador Resources Company, Magnolia Oil & Gas Corporation, Northern Oil and Gas, Inc., and SM Energy Company.

As previously described, Chord released its first Sustainability Report as a combined company in 2023.

Finally, consistent with leadership's strategic efforts over the past several years to increase scale and provide meaningful opportunities to improve efficiencies and drive returns higher, in June 2023, Chord completed the acquisition of 62,000 net acres in the Williston Basin from XTO Energy Inc.

2023 Operational and Financial Highlights

2023 Shareholder Returns Highlights

Executive Compensation Matters