Chord Energy — Nov 4, 2025 release

The Violet-Olson wells in the Wheelock area of North Dakota are free-flowing and also showing encouraging early results after successful post-frac cleanouts and tracer data indicating contribution from the full lateral. Chord’s first 4-mile well (Rystedt) has matched production from two 2-mile well analogs after only six months. Year-to-date, Chord has TIL’d four 2 4-mile laterals and expects to TIL a total of seven 4-mile laterals in FY25. Operational efficiency and strong performance support the potential for substantially more 4-mile wells in the 2026 program. • Execution: In 2025, the Chord team improved operations, driving efficiencies which led to higher volumes for lower capital spending, while achieving an excellent safety record. Drilling days have dropped from 2024 levels, simulfrac increased daily lateral footage completed, and post-frac cleanouts are now more efficient. The facilities team also lowered costs by using modular prefabricated designs and optimizing wells per facility. • Production/LOE: Chord continues to lower failure rates, supported by autonomous rod lift operations, while also shortening cycle-times and reducing costs associated with restoring down wells. Chord has lowered downtime year-over-year, which has driven higher free cash flow from both higher volumes and lower costs. 3Q25 LOE was towards the upper-end of guidance largely reflecting the curtailment of volumes in the Marcellus and activity timing. 2025 Outlook Update: Chord expects to bring back a second completions crew in 4Q25. Guidance outlined below reflects this outlook and also the impact from the XTO Acquisition. Th