November 1, 2023 Delivering Value over the Next Decade
Who is Chord: Premier Williston Basin Company High Quality Largest acreage position in Williston Basin 1,028K 94% 73% 3Q23 Production: 101.4 MBopd / 176.0 MBoepd Williston Basin Asset Inventory: 10 years sub-60/Bbl at 2023 pace1…
Chords Return of Capital Program 2023E Capital Allocation Return of Capital (RoC) Since Merger Significant Cash Generation 2,500 2023E Adjusted EBITDA - 1.73B1 2,287 1,135 2,000 1,450MM Returned to Shareholders 1,500…
Chord Development Evolution Highlights Former Current CHRD Wild CHRD Wild CHRD Painted 2015 vintage Basin Basin Woods Completed 10-14 wells across 100 feet of vertical section 14 wells 6 wells 4 wells 2015 Current Current…
Continued Progress Drives Returns Even Higher Conservative Well Spacing1 Strong Well Performance2 1,000 140 120 45% 800 Oil Rate per Well 100 Well Count Cumulative Oil 600 80 50pt IRR Uplift 400 60 40 200…
Deep Inventory Supports Sustainable Free Cash Flow Decade of Low-Cost Inventory1 Inventory by Breakeven WTI Price1 1,085 locations economic sub 60/Bbl 1,600 Minimum 20% IRR fully loaded with G&A 1,400 1,374 Gross Operated…
3-Mile Laterals Improving Returns 3-Mile Laterals Drive Better Economics Improving Drilling Time1 55-60% of remaining inventory 3-mile laterals 18 50% of FY23E TILs 16 Basin Avg. 15.2 17.0 Days - Spud to RR (3-mile 20%…
Tracer Test: Three Mile Laterals Strong Contribution from 3rd Mile Tracer Testing Foreman Butte1,2 3-Mile Well Performance Test results show strong contribution from 3rd mile after Foreman Butte Tracer Test3 effective cleanout…
Committed to continuous improvement of ESG Performance Rooted in our core values, we maintain sustainable energy practices that exemplify our commitment to energy security and availability Environmental Scope 1 Intensity Methane…
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
Compelling Valuation and Returns Profile Free Cash Flow Outlook1,2 2023E Leverage3 Enterprise Value vs. PV-104 860 12.0% 1.2x 11.4% 1.1x 10.9% 16 840 11.0% 1.0x 14.5B 10.3% 14 FY23E Net Debt / EBITDA 820 10.0% 0.8x 12…
Return of Capital Aim for peer-leading return of capital 3Q23 Return of Capital 1 (MM, except per share) Below 0.5x leverage: 75%+ of FCF Below 1.0x leverage: 50%+ of FCF 207 3Q23 Free Cash Flow2 1.0x leverage: Base dividend+…
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