November 6, 2024 Durable Free Cash Flow Generation with Improving Returns
Disciplined Williston, Oil-Focused Operator Delivering Strong Returns Premier Williston Operator Williston Basin Acreage Position Williston Commodity Mix4 Size & scale with high quality assets 8B market cap1 Production 1.3MM net…
Significant and Resilient Free Cash Flow Generation Drives Returns Highlights Cumulative Cash Returned to Shareholders2 4 Billion since 2021 Track record of prudent capital allocation Cumulative Returns Low reinvestment rate…
2025 2027 Outlook: Positive Rate of Change Continues 2025 2027 Plan Highlights Long-Lateral Development2 Holding oil volumes flat (152 153 MBopd) Capital of 1.4B annually (100MM less than 2024) 50% Enhanced scale, execution, and…
Balance Sheet Supports Leading Financial Position Low Leverage Credit Rating Strong Liquidity 0.3x leverage at 3Q24 S&P BB- Borrowing base 3B with 1.5B of elected Target sub-1x in normalized price Moodys Ba2 commitments environment1…
Delivering on Efficiencies From Longer Laterals Long Lateral Highlights Long Laterals Improve Capital Efficiency Supports shallower declines and lower corporate reinvestment rate Longer flat period/shallower decline results in 3-mile…
Long-Term Well Performance Delivering Strong Program Results 2023 vs. 2024 Program Highlights Oil Base Decline Rate Below Peer Average2 Conservative spacing and longer laterals support low decline rate Higher concentration of 3-mile…
Wider Spacing Effective Across Basin Wider Spacing Highlights Cumulative Uplift (MBo/ft)1 Spacing uplift demonstrated across Chords position Consistently improves well productivity and predictability 1 Painted Woods 2 Wheelock…
Improving Returns with Wider Spacing Benefits of Wider Spacing Chord Well Spacing Conservative to Peers1 Wider spacing results in similar DSU recovery with substantially less capital 10 10 9 10-year inventory life reflects…
Williston Basin High Oil Cut and Strong Differentials Williston Basin Leads with Highest Oil Cut1 Chord Leads Oil-Weighted Revenues by E&P2 91% 78% 77% Percent Oil Production 65% Oil Revenue (% sales) 62% 49% CHRD A…
Williston Basin 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. 2.6 Risk-adjusted…
Chord Energy = Premier Williston Operator Top Tier Oil Assets in Operational Expertise Largest Producer in Oil- Williston Basin Improving Returns focused Basin Williston size and scale with high quality 3-mile leader in basin Largest…
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Premier Leadership Team Aligned with Shareholders Chord Leadership Team Strong strategic and cultural alignment Talented team brings operating best practices Management team with deep energy Danny Brown industry, M&A and operational…
Return of Capital Aim for peer-leading return of capital 3Q24 Return of Capital (MM, except per share) 1 Below 0.5x leverage: 75%+ of Adjusted FCF Below 1.0x leverage: 50%+ of Adjusted FCF 312 Adjusted Free Cash Flow2 1.0x leverage:…
2024 Updated Outlook Development Highlights 1 Guidance Highlights Gross Operated TIL Estimate Increasing FY24 oil volumes +0.6 MBopd (inclusive of 3Q24 A&D impacts) 168 178 in FY24, 76% WI Decreasing FY24 CapEx -10MM 40% 3-mile…
Non-Operated Marcellus Position Highlights Marcellus Production Dry gas window in core of the Marcellus 180 160 155 Strong operator with top-tier well productivity Deferred TILs and curtailed volumes impact 2024 140 Production…
Chord Financial and Operational Results Pro Forma1 Pro Forma1 Financial Highlights (MM) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Key Operating Statistics Q4 2023 Q1 2024 Q2 2024 Q3 2024 Oil Revenues 761 993 1,111 1,074 Oil Production (MBopd)…
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