HighGravityDataChord Energy — Feb 25, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001486159-25-000002
Showing in the filing
Base dividend per share
“$1.30 per share”
Period
Q2 FY2025
Measure
Declared action
Source
Prose
All guidance in this release · 59
4Q24 base dividend for Q2 FY2025
“$1.30 per share”
Base dividend per share for Q2 FY2025
“$1.30 per share”
E&P and other CapEx at midpoint of for FY2025
“$1.4B”
FY25 midpoint CapEx for FY2025
“$1.4B”
CapEx for FY2024
“$1.4B”
E&P and other CapEx
“$1.4B”
Three-year outlook CapEx (annual) for the long term
“$1.4B”
FY25 midpoint oil volumes for FY2025
“152.5 MBopd”
FY24 oil volumes for FY2024
“152.5 MBopd”
Oil volumes at midpoint of (as labeled in fi… for FY2024
“152.5 MBopd”
Base dividend
“$1.30 per share of common stock”
Dividend payment date
“March 26, 2025”
Oil Volumes for FY2025
“152 MBopd – 153 MBopd”
Three-year outlook oil volumes for the long term
“152 MBopd – 153 MBopd”
Adjusted EBITDA for FY2025
“approximately $2.5B”
Adjusted Free Cash Flow for FY2025
“$860MM”
% of E&P and other CapEx invested in drillin… for FY2025
“Approximately 80%”
FY25 non-operated CapEx at midpoint for FY2025
“$215MM”
Non-operated CapEx for FY2025
“$215MM”
1Q25 oil volumes (current expectation) for Q2 FY2025
“149.5 – 152.5 MBopd”
1Q25 volumes for Q2 FY2025
“149.5 – 152.5 MBopd”
Oil volumes trend 2Q25 vs 1Q25 for Q2 FY2025
“slightly up compared to 1Q25”
Oil volumes trend into 3Q25 for Q2 FY2025
“further growth”
NGL and natural gas realizations trend vs FY… for FY2025
“above the FY25 midpoint in 1Q25 and 4Q25 and below the FY25 midpoint in 2Q25 and 3Q25”
Gross operated wells to TIL for FY2025
“130 – 150”
% 3-mile laterals of TIL wells for FY2025
“approximately 40%”
Average working interest of TIL wells for FY2025
“approximately 80%”
Gross operated wells to TIL for Q2 FY2025
“22 – 32”
Oil Volumes (MBopd) for Q2 FY2025
“149.5 – 152.5”
Oil Volumes (MBopd) for FY2025
“150.3 – 154.8”
NGL Volumes (MBblpd) for Q2 FY2025
“46.8 – 48.3”
NGL Volumes (MBblpd) for FY2025
“47.8 – 49.3”
Natural Gas Volumes (MMcfpd) for Q2 FY2025
“402.0 – 415.0”
Natural Gas Volumes (MMcfpd) for FY2025
“415.5 – 428.5”
Total Volumes (MBoepd) for Q2 FY2025
“263.3 – 269.9”
Total Volumes (MBoepd) for FY2025
“267.3 – 275.5”
E&P & Other CapEx ($MM) for Q2 FY2025
“$350 – $380”
E&P & Other CapEx ($MM) for FY2025
“$1,340 – $1,460”
Oil Discount to WTI ($/Bbl) for Q2 FY2025
“$(3.00) – $(1.00)”
Oil Discount to WTI ($/Bbl) for FY2025
“$(2.75) – $(0.75)”
NGL Realization (% of WTI) for Q2 FY2025
“13% – 23%”
NGL Realization (% of WTI) for FY2025
“9% – 19%”
Natural Gas Realization (% of Henry Hub) for Q2 FY2025
“45% – 55%”
Natural Gas Realization (% of Henry Hub) for FY2025
“35% – 45%”
LOE ($/Boe) for Q2 FY2025
“$9.40 – $10.40”
Cash GPT ($/Boe) for FY2025
“$2.65 – $3.15”
Cash GPT ($/Boe) (1) for Q2 FY2025
“$2.65 – $3.15”
Cash G&A ($MM) (1) for Q2 FY2025
“$29.0 – $31.0”
Cash G&A ($MM) for FY2025
“$97.0 – $107.0”
Cash G&A ($MM) (1) for FY2025
“$97.0 – $107.0”
Production Taxes (% of Oil, NGL and Natural … for Q2 FY2025
“8.3% – 8.7%”
Production Taxes (% of Oil, NGL and Natural … for FY2025
“8.4% – 8.8%”
Cash Interest ($MM) (1) for Q2 FY2025
“$15.0 – $17.0”
Cash Interest ($MM) for FY2025
“$51.0 – $59.0”
Cash Interest ($MM) (1) for FY2025
“$51.0 – $59.0”
Cash Tax (% of Adjusted EBITDA) (2) for Q2 FY2025
“1% – 7%”
Cash Tax (% of Adjusted EBITDA) for FY2025
“3% – 10%”
Cash Tax (% of Adjusted EBITDA) (2) for FY2025
“3% – 10%”
Next borrowing base redetermination
“in or around October 2025”
Exhibit 99.1 · the passage around this item
… earlier in the release
Key Takeaways and Updates: • Cash Flow from Operations and Adjusted Free Cash Flow exceeded expectations in 4Q24, supported by oil volumes near the high-end of guidance and strong cost control; • Returning 100% of Adjusted Free Cash Flow (1)(2) to shareholders in 4Q24 with $205.0MM, or 73%, in the form of share repurchases; • Since closing the Enerplus combination, Chord has repurchased 3.5MM shares of common stock through February 21, 2025, representing >5% of shares outstanding; • Increasing 4Q24 base dividend to $1.30 per share, representing an increase of 4%; • FY25 midpoint volume and capital expenditures (“CapEx”) guidance matches three-year outlook announced in November 2024, with midpoint CapEx of $1.4B to deliver midpoint oil volumes of 152.5 MBopd; • FY24 CapEx was $1,470MM on a pro forma basis, $20MM below Chord’s original full-year outlook after close of the Enerplus combination; • FY24 oil volumes were 153.0 MBopd on a pro forma basis (152.4 MBopd excluding DJ Basin assets), exceeding Chord’s original full-year outlook after close of the Enerplus combination by 700 Bopd; and • Successfully drilled first four-mile lateral in 4Q24 with completion operations commencing 1Q25. 4Q24 Operational and Financial Highlights: • Oil volumes of 153.3 MBopd were above midpoint guid ance, reflecting strong well performance; • Total volumes of 273.5 MBoepd exceeded the high-end of guidance; • E&P and other CapEx of $330.3MM ($325.1MM excluding $5.2MM of reimbursed non-op CapEx) was below midpoint guidance; • Lease Operating Expense (“LOE”) of $9.60 per Boe was below midpoint guidance; • Net cash provided by operating activities was $566.5MM and net income was $210.6MM; and • Adjusted EBITDA (1) was $640.1MM and
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.