November 2, 2022 Stronger Together Positioned for Value Creation
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…
Attractively Positioned / Compelling Valuation SUPERIOR RETURN OF CAPITAL Peer-leading1 return of capital program 85% of FCF in 3Q22 Expect 75%+ of FCF at current leverage levels Total Base dividend 1.25/sh./Q (5.00 annually) 3.2%…
Chord Energy is a Premier Williston Basin Company 6.4B equity value Materially Enhanced Scale 169Mboepd1 forecasted production for FY22 972K 92% 68% 972k net acres Net Acres Operated2 Working Interest3 High Quality Assets 1.3B…
History of Returning Capital Approximately 1.3B of cash returned since 2021 Historical Dividends & Share Appreciation1 Balanced Approach: 200 Total: 187.48 Dividends (1.1 B returned 2021-current)2 180 Progressively increased base…
Chords Return of Capital Program Peer-Leading Return of Capital Program1 Annualized Shareholder Return Yield2,4 20.0% Framework: 17.9% Targets a minimum FCF percentage to return each quarter based 18.0% on forward leverage at 65…
Expected Synergies Create Value On Track For Exceeding Announced Synergy Estimates PV-10 of Synergies vs. Market Cap 3,000 100MM+ of annualized synergies: 2,639 G&A (35MM of savings) 2,500 Efficient team structures, flatter…
Premier Williston Operator with Top-Tier Assets Williston Net Acreage by Operator (000s) 972 772 Divide Burke Renville 560 Sheridan 480 460 255 239 Williams 85 Chord CLR COP XOM HES MRO ERF DVN Roosevelt Mountrail Ward…
Strong Asset Base Excellent well performance: Recent Well Performance1 Recent wells outperforming expectations allowing Company to 1100 100 exceed 3Q22 volume guidance with fewer completions than 1000 originally planned 90 900…
Key Tenets of ESG Philosophy Minimizing impact where we operate Safety always Reducing our land impact and water use through effective Maintaining the safety of employees, contractors, utilization of infrastructure and optimized…
Impressive Record of Emissions Reduction Chord GHG Emissions Intensity (TCO2E / MBOE) Reductions Since 20181 41.7 (28%) 30.2 (47%) 16.1 2018 2019 2020 2020 GHG Emission Intensity (TCO2E / MBOE) Top 15 Operators Based on…
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…
Appendix
Updated Guidance for Chord 3Q22 & PF Combined 2022 HIGHLIGHTS GUIDANCE RANGES Implied FY 2022 Metrics (actuals in YTD through 3Q22 4Q22 and 85/5 in forecasted 4Q22 at midpoint) Oil Volumes (Mbbl/d) 97.5 - 100.5 Gas Volumes (MMcf/d)…
Chord Energy Hedge Book & Investment in CEQP Hedge Book Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 NYMEX WTI Swap volume (mbopd) 30.0 25.0 16.0 14.0 14.0 Oil Hedging Weighted avg. swap price 72.32 61.57 53.69 50.00 50.00 Collar volume (mbopd)…
Return of Capital 3Q22 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 1.0x leverage: Base dividend+ Calculation 326 3Q22 Free…
Strong Financial Position 2023E LEVERAGE (CONSENSUS ESTIMATES1) 1.6 1.4 1.4 1.2 Current Net Debt / 2023E EBITDA 1.0 0.8 0.6 0.6 0.6 0.5 0.4 0.4 0.2 (0.1) (0.1) (0.0) 0.0 CHRD Operator A Operator B Operator…
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…
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…
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