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
Adjusted EBITDA
“approximately $2.5B”
Period
FY2025
Measure
Company-defined measure
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
2025 Outlook: Chord’s 2025 program focuses on maximizing free cash flow generation through strong capital efficiency. The 2025 outlook is consistent with Chord’s three-year outlook that was announced in November 2024 to deliver oil volumes of 152 MBopd – 153 MBopd for $1.4B of CapEx annually. Chord expects to generate approximately $2.5B of Adjusted EBITDA and $860MM of Adjusted Free Cash Flow in 2025 ($70/Bbl WTI and $3.50/MMBtu Henry Hub). Highlights of the 2025 plan include: • E&P and other CapEx is expected to total $1.4B at the midpoint of guidance, representing a decrease of $90MM from the original pro forma 2024 outlook. Approximately 80% of E&P and other CapEx is expected to be invested in drilling and completions. FY25 non-operated CapEx is expected to total $215MM at midpoint (~80% Williston) and is included in FY25 midpoint CapEx guidance of $1.4B. E&P and other CapEx is expected to be weighted towards 1H25; • FY24 oil volumes are expected to be 152.5 MBopd at the midpoint of guidance. Chord was on track to deliver approximately 153 MBopd – 154 MBopd of production in 1Q25 before recent winter storms with temperatures below negative 30 degrees. Chord is monitoring production as temperatures improve and currently expects 1Q25 volumes to range from 149.5 – 152.5 MBopd. Oil volumes in 2Q25 are expected to be slightly up compared to 1Q25 with further growth into 3Q25; • NGL and natural gas realizations are expected to be above the FY25 midpoint in 1Q25 and 4Q25 and below the FY25 midpoint in 2Q25 and 3Q25 re
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.