May 6, 2025 Resiliency and Continuous Improvement Support Strong Long-Term Outlook
Disciplined, Oil-Focused Williston Operator Delivering Strong Returns Premier Williston Operator Williston Basin Acreage Position Marcellus Non-Op Acreage Size & scale with high quality assets Position 1.3MM net acres 271 MBoepd (56%…
Attractive Valuation Supports Compelling Investment Opportunity Highlights Enterprise Value vs. Proved Reserves Value2,3 High-quality assets at attractive valuation vs peers 10.3B Trading below proved reserve value with deep, low-cost…
Peer Leading Balance Sheet Supports Organization Resiliency Low Leverage Robust Liquidity Strong Credit Profile 0.3x leverage at 1Q25 Borrowing base 2.75B with 2B of elected S&P BB (upgraded March 2025) Target sub-1x in normalized…
Deep, Low-Cost Inventory at Discounted Valuation1,2 Deep inventory of low breakeven locations competitive with top U.S. onshore producers Strong execution, high quality resource result in robust Williston Basin economics Chord has…
Positioned for Resiliency in Uncertain Environment Relentless Cost Structure Focus Base Oil Decline Rate1,3 Track record of innovation and continuous improvement Advancing efficiencies, driving lower costs 43% 46% 47% 42% 42% 43%…
Strong Capital Efficiency Delivers Significant Return of Capital Highlights Cumulative Capital Returned to Shareholders1 Program supports strong FCF and high shareholder returns Wide spacing and long laterals drive capital efficiency…
Share Buyback Program Reducing Share Count Fully-Diluted Shares Outstanding1 Delivering Per Share Growth2 (millions) (Bo per share) 9% reduction in fully-diluted shares outstanding since May 24 64.1 +12% CAGR 0.96 58.3 0.65…
4-Mile Laterals Continued Efficiency Gains Cost of Supply Improvement1 10-12/Bbl 8-10/Bbl 8-10/Bbl Superior returns on long lateral development 3-Mile 4-Mile 4-Mile (Base Case) (Upside Case) 1st 7 Highlights Successful…
Long-Lateral Development Evolution / Opportunity1 Original Inventory Plan Incorporating 3-Mile 4-Mile / Alternative Shape 2-Mile Development Development Plan Development Plan 2 mile DSU 2 mile DSU 4 mile DSU Shape DSU…
Driving Down Costs, Enhancing FCF Cost Structure Proven Track Record Continuous Improvement Initiatives Maintained 10 yrs sub-60 inventory last several yrs 4-mile laterals and alternate shape wells Frame 3B Unique acreage position…
Chord Energy = Premier Williston Operator Top Tier Oil Assets in Strong Financial Position Durable, Low-Cost Inventory Williston Basin Supports Resiliency at Compelling Valuation Williston size and scale with high quality…
Williston Basin: High Oil Cut, Predictable and Consistent Delivery Williston Basin Highlights Risk-Adjusted Well Productivity1 Subsurface delivers reduced variability compared to other basins 2.9 12-mo Oil Cum. / Std. Dev.…
2025 2027 Outlook: Positive Rate of Change Continues1 2025 2027 Plan Highlights Long-Lateral Development2 Holding oil volumes flat (152 153 MBopd) Capital efficiency improves with more long laterals in program Capital of 1.4B annually…
Long-Term Well Performance Delivering Strong Program Results Program Highlights Measuring Capital Efficiency1 Conservative spacing and longer laterals support low decline rate Oil Bopd (per ft) / D&C (per ft) normalizes production…
Extended Laterals Delivering Strong Returns 3-Mile Laterals Enhance Capital Efficiency 3-Mile Economics Strengthen Returns1 +50% higher EUR / +20% increase in well costs Western 10K vs Western 15K Performance across basin meeting…
Improving Capital Efficiency Year-Over-Year Capital Efficiency (2025 vs 2024)1 25,000 Improving Capital Efficiency A 30,000 Multi-year track record of attractive 35,000 capital efficiency 2025 /Bopd B 40,000 C E D G FH…
High Quality Non-Operated Marcellus Position Highlights Marcellus Production Dry gas window in core of the Marcellus 130 - 140 Strong operator with top-tier well productivity Large PDP base with low declines Deep inventory with…
Return of Capital Aim for peer-leading return of capital 1Q25 Return of Capital (MM, except per share) 1 Below 0.5x leverage: 75%+ of Adjusted FCF Below 1.0x leverage: 50%+ of Adjusted FCF 291 Adjusted Free Cash Flow2 1.0x leverage:…
2025 Outlook Sources & Uses1 Guidance Highlights 152.5 MBopd at midpoint (unchanged from Feb-25 guidance) 1.37B CapEx at midpoint (30MM decrease from Feb-25 guidance) Significant Cash Generation o Approximately 205MM - 225MM non-op…
Chord Financial and Operational Results Pro Forma1 Pro Forma1 Financial Highlights (MM) Q2 2024 Q3 2024 Q4 2024 Q1 2025 Key Operating Statistics Q2 2024 Q3 2024 Q4 2024 Q1 2025 Oil Revenues 1,111 1,074 970 956 Oil Production (MBopd)…
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