Chord Energy (CHRD) Company Report

Chord delivered Q3 2025 adjusted free cash flow of approximately $230 million, returning 69% of this to shareholders, and has reduced diluted shares outstanding by approximately 11% since the Enerplus combination.
The company closed the XTO transaction on October 31, adjusting Q4 production up by 4,000 barrels of oil per day and adding $15 million to full year 2025 capital.
Preliminary 2026 expectations include maintaining oil volumes of approximately 157,000-161,000 barrels per day with total CapEx of roughly $1.4 billion, reflecting improved capital efficiency with approximately 4% higher oil volumes for roughly $100 million less than the early 2024 pro forma budget.
Chord is driving $120 million of free cash flow improvement in 2025 from controllable items, including expected marketing cost savings of $30 million-$50 million annually, with about half realized in 2025.

Nov 5, 2025, 4:00 PM

Transcript

Chord Energy Reports Strong Q3 2025 Results, Completes XTO Acquisition, and Updates FY25 Outlook

CHRD

Earnings

M&A

Guidance Update

Chord Energy reported strong Q3 2025 operational and financial results, with oil volumes of 155.7 MBopd and Adjusted Free Cash Flow of $218.6MM, both exceeding guidance.
The company returned 69% of Adjusted Free Cash Flow to shareholders in Q3 2025, including a base dividend of $1.30 per share and $83.0MM in share repurchases.
Chord Energy completed the acquisition of Williston Basin assets from XTO Energy Inc. on October 31, 2025, for a total cash consideration of $542.2MM.
For FY25, Chord Energy updated its outlook, raising oil volume guidance to 153.3 MBopd at the midpoint (excluding XTO impacts) and maintaining CapEx guidance at $1.35B at the midpoint (excluding XTO impacts), with an expected Adjusted Free Cash Flow of approximately $840MM.

Nov 4, 2025, 9:45 PM

8-K

Chord Energy Reports Q3 2025 Results, Completes XTO Acquisition, and Updates FY25 Outlook

CHRD

Earnings

Guidance Update

M&A

Chord Energy reported Q3 2025 financial results, with net income of $130.1 million ($2.26/diluted share), Adjusted EBITDA of $577.8 million, and Adjusted Free Cash Flow of $218.6 million.
The company completed the acquisition of Williston Basin assets from XTO Energy Inc. on October 31, 2025, for a total cash consideration of $542.2 million.
Chord Energy updated its FY25 outlook, raising oil volume guidance and maintaining CapEx guidance (excluding XTO impacts), projecting Adjusted EBITDA of approximately $2.4 billion and Adjusted FCF of approximately $840 million at the midpoint of guidance.
In Q3 2025, the company returned 69% of Adjusted FCF to shareholders through a base dividend of $1.30 per share and $83.0 million of share repurchases.
Q3 2025 operational highlights included oil volumes of 155.7 MBopd and E&P and other CapEx of $321.9 million, both favorable to guidance.

Nov 4, 2025, 9:05 PM

Press Release

Chord Energy Releases 2024 Sustainability Report

CHRD

M&A

Chord Energy Corporation released its 2024 Sustainability Report on October 2, 2025, highlighting its commitment to sustainable operations and transparent reporting of environmental stewardship, social responsibility, and corporate governance.
The report underscores the company's dedication to delivering affordable, reliable energy responsibly while actively working to lower its environmental footprint.
According to CEO Danny Brown, 2024 was marked by Chord strengthening its position in the Williston Basin and the successful acquisition and integration of Enerplus, which created a stronger, more resilient organization.

Oct 2, 2025, 1:00 PM

Press Release

Chord Energy Corp. Issues $750 Million Senior Unsecured Notes Due 2030

CHRD

Debt Issuance

M&A

On September 30, 2025, Chord Energy Corporation completed an offering of $750 million in aggregate principal amount of its 6.000% senior unsecured notes due 2030.
The notes will mature on October 1, 2030, with interest payable semi-annually on April 1 and October 1, commencing April 1, 2026.
The proceeds from the notes offering are intended to finance the acquisition of assets in the Williston Basin from XTO Energy, Inc., cover offering expenses, and for general corporate purposes, including repayment of borrowings under the Company’s senior secured revolving credit facility.
A special mandatory redemption clause requires the Company to redeem the notes if the XTO Acquisition does not occur by June 30, 2026 (extendable to September 30, 2026), or if the Company notifies that it will not pursue the acquisition.

Sep 30, 2025, 5:01 PM

8-K

Chord Energy announces upsizing and pricing of senior notes offering

CHRD

Debt Issuance

M&A

New Projects/Investments

Chord Energy Corporation has upsized and priced its private placement of senior unsecured notes to $750 million aggregate principal amount of 6.000% senior unsecured notes due 2030. This offering was upsized from the previously announced $500 million.
The Notes were priced at par, and the offering is anticipated to close on September 30, 2025, yielding approximately $739.6 million in net proceeds.
The net proceeds will primarily fund the XTO Acquisition of oil and gas assets in the Williston Basin, cover offering expenses, and be used for general corporate purposes, including repaying borrowings under the company's senior secured revolving credit facility.
A special mandatory redemption provision is in place, requiring redemption at 100% or 101% of the principal amount plus accrued interest if the XTO Acquisition does not close by June 30, 2026, or the extended date of September 30, 2026.

Sep 17, 2025, 1:25 AM

8-K

Chord Energy Upsizes and Prices $750 Million Senior Notes Offering

CHRD

Debt Issuance

M&A

New Projects/Investments

Chord Energy Corporation has upsized and priced a private placement of $750 million in aggregate principal amount of 6.000% senior unsecured notes due 2030.
The offering, which was upsized from $500 million, is expected to close on September 30, 2025.
The net proceeds are primarily intended to fund the XTO Acquisition and related expenses, with remaining funds allocated to general corporate purposes, including repayment of borrowings under the company's revolving credit facility.
A special mandatory redemption will occur if the XTO Acquisition does not close by June 30, 2026, with a potential extension to September 30, 2026.

Sep 16, 2025, 7:35 PM

Press Release

Chord Energy Corporation Announces $500 Million Senior Notes Offering

CHRD

Debt Issuance

M&A

New Projects/Investments

Chord Energy Corporation announced its intention to offer $500 million in aggregate principal amount of senior unsecured notes due 2030 in a private placement, as of September 16, 2025.
The company intends to use the net proceeds from the Notes Offering to fund all or a portion of the consideration for the pending acquisition of certain oil and gas assets in the Williston Basin from XTO Energy, Inc. (the "XTO Acquisition") and pay related costs and expenses.
The Notes will be subject to a special mandatory redemption if the XTO Acquisition does not occur on or before June 30, 2026, which date may be extended to September 30, 2026. The redemption price will be 100% of the principal amount plus accrued interest if the trigger date is on or before June 30, 2026, or 101% of the principal amount plus accrued interest if the trigger date is after June 30, 2026, and on or before September 30, 2026.

Sep 16, 2025, 11:55 AM

8-K

Chord Energy Announces Senior Notes Offering

CHRD

Debt Issuance

M&A

New Projects/Investments

Chord Energy Corporation intends to offer $500 million in aggregate principal amount of senior unsecured notes due 2030 in a private placement.
The company plans to use the net proceeds to fund all or a portion of its pending acquisition of oil and gas assets in the Williston Basin from XTO Energy, Inc..
The notes include a special mandatory redemption clause if the XTO Acquisition does not occur by June 30, 2026, or by September 30, 2026 if extended, with redemption prices of 100% or 101% of the principal amount plus accrued interest.

Sep 16, 2025, 11:35 AM

Press Release

Chord Energy Announces Williston Basin Asset Acquisition

CHRD

M&A

New Projects/Investments

Chord Energy Corporation has entered into a definitive agreement to acquire assets in the Williston Basin from XTO Energy Inc. and affiliates, subsidiaries of Exxon Mobil Corporation.
The total cash consideration for the acquisition is $550 million, subject to customary purchase price adjustments.
The acquired assets include 48,000 net acres in the Williston core, with an expected near-term production of ~9 MBoepd (78% oil).
The transaction is anticipated to be highly accretive to all key metrics, including cash flow and free cash flow, and is expected to result in a post-transaction adjusted net leverage of approximately 0.5x to 0.6x.
The effective date for the transaction is September 1, 2025, with closing expected by year-end.

Sep 15, 2025, 9:00 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for Chord Energy.

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