Chord Energy — May 5, 2026 release

Key Update Summary: • Volumes: FY26 oil volumes increased 2 MBopd at midpoint to 161 MBopd; • 2Q26 midpoint oil volume guidance of 164.0 MBopd reflects positive impacts from production optimization initiatives and faster D&C cycle times. 3Q26 volumes are expected to be similar levels to 2Q26 before declining in 4Q26; • Capital: FY26 CapEx remains unchanged from the February 2026 guidance of $1.4B at midpoint; • 2Q26 CapEx guidance of $425MM at midpoint reflects faster D&C cycle times. CapEx is expected to decline in 3Q26 and fall further in 4Q26; • Realizations: FY26 oil realization outlook improved to reflect current market premiums to WTI. FY26 NGL realizations adjusted to reflect higher absolute pricing, but a lower percentage of WTI. FY26 natural gas realizations are essentially unchanged from February 2026 guidance; • LOE: Midpoint FY26 LOE increased $0.15/BOE to $9.95/BOE reflecting various production enhancement initiatives; and • Activity: Chord continues to plan to TIL 135 – 165 gross operated wells (~40% 3-mile laterals and ~40% 4-mile laterals) with an average working interest of ~75%. The following table presents select operational and financial guidance for the periods presented: Metric 2Q26 Guidance FY26 Guidance Oil Volumes (MBopd) 162.5 - 165.5 160.0 - 162.0 NGL Volumes (MBblpd) 50.5 - 51.5 49.5 - 50.5 Natural Gas Volumes (MMcfpd) 400.0 - 408.0 401.0 - 407.0 Total Volumes (MBoepd) 279.7 - 285.0 276.4 - 280.3 CapEx ($MM) $410 - $440 $1,355 - $1,445 Oil Premium/(Discount) to WTI ($/Bbl) $0.50 - $1.50 $(0.50) - $0.50 NGL Realization (% of WTI) 4% - 10% 4% - 12