Strong Free Cash Flow
Chord Energy delivered adjusted free cash flow of approximately $291 million for the first quarter, supported by strong execution in well performance and favorable capital guidance.
Robust Shareholder Returns
Chord maintained shareholder returns at 100% of free cash flow for the second consecutive quarter, repurchasing $216.5 million or about 2 million shares during the quarter.
Operational Efficiency Improvements
The company reduced its full-year capital guidance by $30 million due to program efficiencies, without impacting production volumes.
Successful Implementation of Longer Laterals
Chord successfully drilled and completed its first four-mile lateral, leading to a well cost approximately $1 million below the original budget.
Strong Balance Sheet and Low Leverage
Chord has a leverage ratio of 0.3 times, maintaining strong liquidity and balance sheet strength versus peer groups.