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2Q22 Earnings – Chord Energy

Chord Energy · Aug 3, 2022 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2Q22 Earnings – Chord Energy – slide 1
    August 3, 2022 Stronger Together Positioned for Value Creation
  2. 2Q22 Earnings – Chord Energy – slide 2
    Chord Energy Chord (noun) /kord/ 1. A straight line joining two points on a curve 2. Musical notes played in unison to produce harmony Striking a new chord and creating a new harmony in the industry. Chord Energy combines…
  3. 2Q22 Earnings – Chord Energy – slide 3
    Attractively Positioned / Compelling Valuation SUPERIOR RETURN OF CAPITAL Peer-leading1 return of capital program 75%+ of FCF Total Base dividend increased to 1.25/sh./Q (5.00 annually) 3.9% yield2 PEER-LEADING BASE DIVIDEND…
  4. 2Q22 Earnings – Chord Energy – slide 4
    Chord Energy is a Premier Williston Basin Company 5.3B equity value Materially Enhanced Scale 168Mboepd1 forecasted production for FY22 972K 92% 68% 972k net acres Net Acres Operated2 Working Interest3 High Quality Assets 1.35B…
  5. 2Q22 Earnings – Chord Energy – slide 5
    History of Returning Capital Approximately 1.1B of cash returned since 2021 Historical Dividends & Share Appreciation1 Balanced Approach: 160 Total: 156.37 Dividends (over 870MM returned 2021-current)2 140 Progressively increased…
  6. 2Q22 Earnings – Chord Energy – slide 6
    Chords Return of Capital Program Peer-Leading Return of Capital Program1 FCF Yield2,4 Updated Framework: 26% 23% Targets a minimum FCF percentage to return each quarter based 22% 22% on forward leverage at 65 WTI and 3 HH 18%…
  7. 2Q22 Earnings – Chord Energy – slide 7
    Expected Synergies Create Value On Track For Exceeding Announced Synergy Estimates PV-10 of Synergies vs. Market Cap 3,000 Announced 65MM of annualized synergies by 2H23: 2,639 G&A (35MM of savings) 2,500 Efficient team structures,…
  8. 2Q22 Earnings – Chord Energy – slide 8
    Premier Williston Operator with Top-Tier Assets Williston Net Acreage by Operator (000s) 972 772 560 480 Burke Renville 460 Sheridan Divide 255 239 85 Williams Chord CLR COP XOM HES MRO ERF DVN Roosevelt Mountrail Ward…
  9. 2Q22 Earnings – Chord Energy – slide 9
    Strong Asset Base Excellent well performance: Recent Well Performance1 1100 80 Recent wells outperforming expectations Widened avg. well spacing from historical levels 1000 75 Avg. Oil Volumes (Barrels per Day) Low base…
  10. 2Q22 Earnings – Chord Energy – slide 10
    Attractive Position & Significant Upside Potential 2022E NET PRODUCTION (MBOE/D; WALL ST. CONSENSUS ESTIMATES1,2) 239 168 162 149 122 104 98 74 Operator A Chord Operator B Operator C Operator D Operator E Operator F…
  11. 2Q22 Earnings – Chord Energy – slide 11
    Key Tenets of ESG Philosophy Minimizing impact where we operate Safety always Reducing our land impact and water use through Maintaining the safety of employees, contractors, investment in infrastructure and optimized operations. and…
  12. 2Q22 Earnings – Chord Energy – slide 12
    Impressive Record of Emissions Reduction Chord GHG Emissions Intensity (TCO2E / MBOE) Reductions Since 20181 41.7 (28%) 30.2 (47%) 16.1 2018 2019 2022 2020 GHG Emission Intensity (TCO2E / MBOE) Top 15 Operators Based on…
  13. 2Q22 Earnings – Chord Energy – slide 13
    Chord Energy = Premier FCF Focused E&P Premier Williston Operator Significant and Resilient Capital Returns Program to with Top Tier Assets Free Cash Flow Generation Deliver Significant Value Enhances size and scale with high…
  14. 2Q22 Earnings – Chord Energy – slide 14
    Appendix
  15. 2Q22 Earnings – Chord Energy – slide 15
    Premier Management Team Aligned with Shareholders Strong strategic and cultural alignment Talented team bring operating best practices Management team with deep energy industry, M&A and operational Lynn A. Peterson Danny Brown…
  16. 2Q22 Earnings – Chord Energy – slide 16
    Short-tenured, Diverse, and Highly Capable Board of Directors Danny Brown Douglas Brooks Susan Cunningham Samantha Holroyd Lynn A. Peterson President & Chief Audit Committee / ESG Compensation & ESG Committees ESG Chair / Audit…
  17. 2Q22 Earnings – Chord Energy – slide 17
    Updated Guidance for Chord 3Q22 & PF Combined 2022 HIGHLIGHTS GUIDANCE RANGES Implied FY 2022 Metrics (actuals in 1H22 and 90/6 in 3Q22 FY22 forecasted 2H22 at midpoint) Oil Volumes (Mbbl/d) 94.2 - 97.2 95.7 - 97.5 EBITDA: 2.15B…
  18. 2Q22 Earnings – Chord Energy – slide 18
    Chord PF 1H22 Financial and Operational Results* Financial Highlights (MM) 1Q22 2Q22 Key Operating Statistics 1Q22 2Q22 Oil Revenues 815.7 902.4 Oil Production (Bopd) 97,419 89,991 Gas Revenues 198.0 218.8 Gas Production (Boepd)…
  19. 2Q22 Earnings – Chord Energy – slide 19
    Chord Energy Hedge Book & Investment in CEQP Hedge Book Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 NYMEX WTI Swap volume (mbopd) 28.0 30.0 25.0 16.0 14.0 14.0 Oil Hedging Weighted avg. swap price 72.45 72.32 61.57 53.69 50.00 50.00 Collar…
  20. 2Q22 Earnings – Chord Energy – slide 20
    Return of Capital 3Q22 Illustrative Example Key Points: Aim for peer-leading return of capital Below 0.5x leverage: 75%+ of FCF Below 1.0x leverage: 50%+ of FCF 3Q22 Return of Capital Example 1.0x leverage: Base dividend+…

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