HighGravityDataChord Energy — Nov 6, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001486159-24-000059
Showing in the filing
Oil Volumes (FY24 pro forma midpoint)
“152.7 MBopd”
Period
FY2024
Measure
Company-defined measure
Source
Prose
All guidance in this release · 49
Capital expenditures for FY2025
“$1.4B”
E&P & Other CapEx (three-year outlook) for FY2025
“$1.4B”
Base-plus-variable cash dividend
“$1.44 per share of common stock”
Share Repurchase Program Authorization
“$750MM”
Base dividend
“$1.25 per share of common stock”
Variable dividend
“$0.19 per share of common stock”
Dividend payment date
“December 12, 2024”
Oil Volumes impact from recent A&D activity for Q2 FY2025
“approximately 0.4 MBopd”
Oil Volumes for FY2025
“152 MBopd – 153 MBopd”
Oil Volumes (three-year outlook, flat pro fo… for FY2025
“152 MBopd – 153 MBopd”
Synergies from Enerplus combination
“over $200MM”
Adjusted EBITDA for FY2024
“approximately $2.7B”
Adjusted Free Cash Flow for FY2024
“$1.1B”
Reinvestment rate for FY2024
“less than 60%”
Oil Volumes (FY24 pro forma midpoint) for FY2024
“152.7 MBopd”
E&P & Other CapEx for FY2024
“$1.48B”
Pro forma capital for FY2024
“$1.48B”
Oil Volumes (MBopd) for Q2 FY2025
“149.5 – 154.5”
Oil Volumes (MBopd) for FY2024
“152.0 – 153.3”
NGL Volumes (MBblpd) for Q2 FY2025
“46.1 – 47.6”
NGL Volumes (MBblpd) for FY2024
“47.7 – 48.1”
Natural Gas Volumes (MMcfpd) for Q2 FY2025
“395.5 – 408.5”
Natural Gas Volumes (MMcfpd) for FY2024
“407.6 – 410.9”
Total Volumes (MBoepd) for Q2 FY2025
“261.5 – 270.1”
Total Volumes (MBoepd) for FY2024
“267.6 – 269.8”
E&P & Other CapEx ($MM) for Q2 FY2025
“$315 – $355”
E&P & Other CapEx ($MM) for FY2024
“$1,460 – $1,500”
Oil Discount to WTI ($/Bbl) for Q2 FY2025
“$(2.00) – $0.00”
Oil Discount to WTI ($/Bbl) for FY2024
“$(1.75) – $(1.25)”
NGL Realization (% of WTI) for Q2 FY2025
“5% – 15%”
NGL Realization (% of WTI) for FY2024
“9% – 11%”
Natural Gas Realization (% of Henry Hub) for Q2 FY2025
“25% – 35%”
Natural Gas Realization (% of Henry Hub) for FY2024
“34% – 36%”
LOE ($/Boe) for Q2 FY2025
“$9.25 – $10.25”
LOE ($/Boe) for FY2024
“$9.38 – $9.63”
Cash GPT ($/Boe) (2) for Q2 FY2025
“$2.60 – $3.20”
Cash GPT ($/Boe) for FY2024
“$3.11 – $3.25”
Cash GPT ($/Boe) (2) for FY2024
“$3.11 – $3.25”
Cash G&A ($MM) (2) for Q2 FY2025
“$29.0 – $31.0”
Cash G&A ($MM) for FY2024
“$116.2 – $118.2”
Cash G&A ($MM) (2) for FY2024
“$116.2 – $118.2”
Production Taxes (% of Oil, NGL and Natural … for Q2 FY2025
“8.7% – 9.1%”
Production Taxes (% of Oil, NGL and Natural … for FY2024
“8.8% – 8.9%”
Cash Interest ($MM) (2) for Q2 FY2025
“$18.0 – $20.0”
Cash Interest ($MM) for FY2024
“$62.7 – $64.7”
Cash Interest ($MM) (2) for FY2024
“$62.7 – $64.7”
Cash Tax (% of Adjusted EBITDA) (3) for Q2 FY2025
“0% – 5%”
Cash Tax (% of Adjusted EBITDA) for FY2024
“2% – 4%”
Cash Tax (% of Adjusted EBITDA) (3) for FY2024
“2% – 4%”
Exhibit 99.1 · the passage around this item
… earlier in the release
Chord’s updated outlook reflects actual pricing for 1Q24 – 3Q24 and $70/Bbl WTI and $2.50/MMBtu Henry Hub for 4Q24. • Full year oil volumes updated to account for strong 3Q24 performance and the latest 4Q24 outlook, which includes the impact of October wildfires and recent A&D activity. Pro forma FY24 midpoint oil volumes of 152.7 MBopd increased 0.6 MBopd from August guidance (including the impact of A&D), representing the second increase in oil guidance this year; • FY24 pro forma capital guidance reduced $10MM to $1.48B, reflecting program efficiencies and lower spending. 4Q24 capital reflects program timing and some deferred spending from 3Q24; • Full year natural gas and NGL volumes adjusted to reflect latest estimates on volume mix and activity deferrals in the Marcellus shale; • Lowering 4Q24 oil differentials to reflect continued pricing improvement in the Williston Basin. Adjusting 4Q24 natural gas and NGL realizations to reflect current market conditions; • Lowering FY24 LOE to reflect better than expected 3Q24 performance and improved 4Q24 outlook; • Increasing production tax estimate to account for higher oil sales and lower gas prices; and • Lowering cash tax guidance to reflect the acceleration of certain deferred tax benefits. In early October, wildfires spread in select areas of North Dakota. There were no injuries to Chord staff; however, the broader community suffered two fatalities and various homes and infrastructure were damaged. During the fires, Chord coordinated with authorities to proacti
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.