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
Base dividend
“$1.25 per share of common stock”
Period
No period stated
Measure
Declared action
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
See “Non-GAAP Financial Measures” below for a reconciliation to the most directly comparable financial measures under GAAP. Return of Capital: Chord declared a base-plus-variable cash dividend of $1.44 per share of common stock, including a base dividend of $1.25 per share of common stock and a variable dividend of $0.19 per share of common stock. The dividends will be payable on December 12, 2024 to shareholders of record as of November 27, 2024. Details regarding the calculation of the variable dividend can be found in the Company’s most recent investor presentation located on its website at https://ir.chordenergy.com/presentations. During 3Q24, the Company repurchased 951,417 shares of common stock at a weighted average price of $153.50 per share totaling $146.0MM. Share repurchases represented more than 90% of shareholder returns after the base dividend in 3Q24. Chord’s Board of Directors has authorized a new share repurchase program totaling $750MM, which replaces the existing program which had approximately $445MM remaining at September 30, 2024. 2 Acquisition and Divestiture: During 3Q24, Chord entered into a definitive agreement to divest its entire position in the DJ Basin. On October 25, 2024, Chord completed the sale of the DJ Basin assets and received net proceeds (after customary purchase price adjustments) of $36.1MM. Chord expects to use the net proceeds from the DJ Basin divestiture to fund recent acquisitions and repurchase shares of common stock i
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.