August 6, 2025 Premier Williston Basin Operator Enhancing Free Cash Flow Generation
Disciplined, Oil-Focused Williston Operator Delivering Strong Returns Premier Williston Operator Williston Basin Acreage Commodity Mix1 Size & scale with high quality assets 1.3MM net acres 18% 275 MBoepd (56% oil)1 10 years of…
Strong Capital Efficiency Delivers Significant Return of Capital Highlights Base Oil Decline Rate2 Program supports strong FCF and high shareholder returns 43% 44% 47% 41% 38% 38% 38% 39% 39% 40% 41% Low base decline supports durable…
Continuous Improvements Driving 20% FCF Growth vs. Guidance1 FY25 Free Cash Flow Growth 20% Oil Production above original guidance +500 Bopd above original outlook Efficient execution Strong asset performance 25MM (5MM) Improved…
Share Buyback Program Reducing Share Count Share Repurchase Program Progress1 Delivering Per Share Growth Across Key Metrics 10% reduction to FDSO 64.1 -10% FDSO Decline +4% Base Dividend Since ERF closing in May-24 Increase per…
Driving Per Share Growth Oil Production Per Share1 12% CAGR 0.97 Strong Capital Allocation Maximizing efficient FCF generation 0.65 Counter-cyclical share repurchases Disciplined M&A Operational Excellence Reducing…
4-Mile Laterals Continue 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 Drilled four…
4-Mile Lateral Program: Strong Early Performance Highlights Rystedt 2B Cumulative Oil vs Type Curve First 4-mile lateral TILd in Feb-25 Early performance exceeding type curve Successful cleanout to toe; full lateral contribution…
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 several yrs 4-mile laterals and alternate shape wells Frame 3B Unique acreage position unlocks…
Peer Leading Balance Sheet Supports Organization Resiliency Low Leverage Robust Liquidity Strong Credit Profile 0.3x leverage at 2Q251 2.75B borrowing base / 2B elected commitments S&P BB (upgraded March 2025) Target sub-1x in…
Compelling Investment Opportunity, Attractive Valuation1 Highlights Enterprise Value vs. Proved Reserves Value2 High-quality assets at attractive valuation vs peers 10.3B Trading below proved reserve value with deep, low-cost inventory…
Chord Energy = Premier Williston Operator Top Tier Oil Assets in Strong Financial Position Durable, Low-Cost Inventory at Williston Basin Supports Resiliency 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 2.8 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 Capex of 1.4B annually…
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…
High Quality Non-Operated Marcellus Position Highlights Marcellus Production1 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 2Q25 Return of Capital (MM, except per share) 1 Below 0.5x leverage: 75%+ of Adjusted FCF Below 1.0x leverage: 50%+ of Adjusted FCF 141 Adjusted Free Cash Flow2 1.0x leverage:…
2025 Outlook Sources & Uses1 Guidance Highlights 153.0 MBopd at midpoint (+500 Bopd vs orig. FY25 guide) 1.35B CapEx at midpoint (-50MM vs orig. FY25 guide) Significant Cash Generation 2.4B EBITDA LOE 9.60/Boe at midpoint…
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