Chord Energy Corp

9. Investment in Equity Securities

As of June 30, 2026 and December 31, 2025, the fair value of the Company’s investment in Energy Transfer was $138.8 million and $119.7 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 equity securities on the Condensed Consolidated Balance Sheets.

During the three and six months ended June 30, 2026, the Company recorded a net gain of $1.1 million and $24.0 million, respectively, on its investment in Energy Transfer, comprised of an unrealized loss for the change in fair value of the investment of $1.3 million and an unrealized gain of $19.1 million, respectively, and a realized gain for cash distributions received of $2.4 million and $4.9 million, respectively. During the three and six months ended June 30, 2025, the Company recorded a net loss of $1.0 million and $5.9 million, respectively, on its investment in Energy Transfer, comprised of an unrealized loss for the change in the fair value of its investment of $3.3 million and $10.6 million, respectively, partially offset by a realized gain for cash distributions received of $2.4 million and $4.7 million, respectively.