Creating a Premier Williston Basin Oil Operator + Top Tier Asset & Operations Significant Scale, Synergies & Accretion Chord 7.5B market cap1 Williston operator with a leading Chord + Enerplus 11B market cap1 Williston operator and…
Positive Rate of Change Continues with Enerplus Top-Tier Assets and Basin Expertise Premier Williston Acreage Position ERFs top-tier assets expected to jump the s-curve applying Chords technical knowledge Low break-even drilling…
Chords Leading Financial Position Credit Ratings S&P BB- Moodys Ba2 Positive outlooks issued in February 2024 Enerplus combination strengthens financial profile Low Leverage 0.3x pro forma estimated at 2Q24 Target sub-1x in…
Chords Standalone Return of Capital Program 2024 Capital Allocation1 2023 Return of Capital (RoC) 2,000 Significant Cash Generation 2024 EBITDA - 1.9B 1.8B Returned Since 1,728 July 2022 1,500 (955) 646MM Millions…
Longer Laterals Improving Returns Longer Laterals Drive Better Economics Increasing 3-Mile TILs2 25pt IRR increase: 40%+ higher EUR / 20% increase in well costs 67% 70% o Economics in western acreage comparable to 2-mile basin core…
Committed to continuous improvement of ESG Performance Chord maintains sustainable energy practices that exemplify our commitment to energy security and availability Environmental Scope 1 Intensity Methane Reduction Spill Management…
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…
Supplementary Information
Chord + Enerplus Transaction Overview Combined 12B enterprise value, inclusive of Enerplus net debt1 A Premier Williston Acreage Position Each Enerplus common share exchanged for 0.10125 shares of Chord common stock and US1.84 per…
Premier Leadership Team Aligned with Shareholders Pro Forma Chord Leadership Team Strong strategic and cultural alignment Talented team brings operating best practices Management team with deep energy industry, Danny Brown M&A…
Complementary Combination Results in Significant Synergies Combination drives 200MM+/year in expected cost savings 50MM increase from initial target Initiates in late 2025, largely realized in 2026 Current Beginning in 2025…
Return of Capital Aim for peer-leading return of capital 1Q24 Return of Capital (MM, except per share) 1 Below 0.5x leverage: 75%+ of FCF Below 1.0x leverage: 50%+ of FCF 204 1Q24 Free Cash Flow2,3 1.0x leverage: Base dividend+…
2024 Updated Outlook Development Highlights 1 2024 Pro Forma Outlook 1,2 6 Rigs 1Q24A 2Q24E 2H24E FY24E Gross Operated TIL Estimate Oil volumes (MBopd) 145.3 152.2 154.5 151.7 163 193 in FY24, 75% WI NGL volumes (MBblpd) 44.7 46.3…
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