Chord Energy Corp

10. Investment in Unconsolidated Affiliate

As of June 30, 2024 and December 31, 2023, the fair value of the Company’s investment in Energy Transfer was $117.7 million and $100.2 million, respectively, which represented less than 5% of Energy Transfer’s issued and outstanding common units. The carrying amount of the Company’s investment in Energy Transfer is recorded to investment in unconsolidated affiliate on the Condensed Consolidated Balance Sheet.

During the three and six months ended June 30, 2024, the Company recorded a net gain of $5.9 million and $22.2 million, respectively, on its investment in Energy Transfer, comprised of an unrealized gain for the change in fair value of the investment of $3.6 million and $17.6 million, respectively, and a realized gain for cash distributions received of $2.3 million and $4.6 million, respectively. During the three and six months ended June 30, 2023, the Company recorded a net gain of $10.1 million and $7.9 million, respectively, on its investment in Energy Transfer, primarily comprised of an unrealized gain for the change in the fair value of its investment of $6.8 million and $1.1 million, respectively, and a realized gain for cash distributions received of $3.0 million and $6.0 million, respectively.