Chord Energy Corp
For the period ended Mar 19, 2026. Filed Mar 19, 2026.
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Mar 19, 2026 · Filed Mar 19, 2026
Contents
Performance Highlights
In 2025, we exceeded initial expectations by driving higher production with lower capital, while improving our cost structure. We increased our long lateral inventory to approximately 80% in 2025, improving returns.
Chord improved inventory depth and quality organically through the expansion of our long lateral inventory and through the successful acquisition from XTO of 48,000 net acres in the core of the Williston Basin, lowering weighted average breakeven over 10% from year end 2024.
The Chord team also delivered meaningful structural improvements across the business including stronger margins, enhanced capital efficiency, and higher adjusted free cash flow, all of which led to over $700 million returned to shareholders while maintaining balance sheet strength.
| 56 | 2026 Proxy Statement |
Executive Compensation Matters
2025 Operational and Financial Highlights
| PRODUCTION (MBopd) | CAPEX ($B)(1) | LONG-LATERAL INVENTORY |
| BALANCE SHEET (YE 2025)•$2.75B borrowing base•$2B elected commitments•$2.2B liquidity | 2026 OUTLOOK•$1.4B capital spend •157-161 MBopd•~80% long laterals | MULTI-YEAR CAPITAL EFFICIENCY•Basin leading cycle times•4-mile laterals enhance economics•Decreased F&D/Boe > 10% from 2024 to 2025 |
| (1) 2024 CapEx is pro forma for the Enerplus Transaction as if it had occurred on January 1, 2024. 2024 and 2025 CapEx include $25.2 million and $19.7 million, respectively, of reimbursable non-op CapEx. | ||
2025 Shareholder Returns Highlights
| >$700MMCAPITAL RETURNED TO SHAREHOLDERS IN 2025 | $387MMCOMMON STOCK REPURCHASED(1) | $5.20 per shareBASE DIVIDENDS DECLARED |
| (1) Includes shares withheld to cover taxes on vested equity awards. | ||
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