Chord Energy Corporation ( (CHRD) ) has released its Q3 earnings. Here is a breakdown of the information Chord Energy Corporation presented to its investors.
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Chord Energy Corporation is an independent exploration and production company primarily operating in the Williston Basin, focusing on generating free cash flow through efficient and responsible development of oil-rich resources in the United States. In its latest earnings report for the third quarter of 2024, Chord Energy announced robust financial and operational results, including exceeding expectations in cash flow from operations and adjusted free cash flow, despite a challenging market environment.
Key highlights from the report include Chord Energy’s oil production nearing the upper end of guidance with total volumes surpassing expectations, while maintaining capital expenditures below the lower guidance range. Furthermore, Chord Energy announced a significant increase in share repurchases, totaling $146 million, and declared a base-plus-variable cash dividend of $1.44 per share.
Financially, Chord Energy reported a net income of $225.3 million with adjusted EBITDA of $674.5 million for the third quarter of 2024. The company’s lease operating expenses were lower than expected, contributing positively to its financial performance. Additionally, Chord Energy issued a new three-year outlook for 2025-2027, planning to spend $1.4 billion annually to sustain its oil volume levels.
Looking ahead, Chord Energy remains committed to optimizing capital allocation and maintaining a strong focus on sustainable and efficient operations. The company’s management has expressed confidence in its ability to generate durable free cash flow and deliver peer-leading shareholder returns, setting a positive tone for future performance.
