#United States #Houston #financial results #Chord Energy #Q1 2026

Chord Energy Reports Strong Q1 2026 Financial and Operating Results

HOUSTON, May 5, 2026 - Chord Energy Corporation (NASDAQ: CHRD) has announced its financial and operational results for the first quarter of 2026. The company showcased impressive resilience with cash flow from operations and adjusted free cash flow surpassing expectations, demonstrating operational strength and strategic planning.

Key Highlights of Q1 2026

• - Operational Excellence: Chord achieved oil production volumes of 158.0 MBopd, exceeding the top end of their guidance, showcasing robust operational efficiency.
• - Increased Shareholder Returns: The company returned $145 million to its shareholders through a base dividend of $1.30 per share and $71 million from share buybacks, reflecting strong confidence in its financial position.
• - Strategic Focus on Capital Discipline: Chord maintained its capital expenditures in line with expectations while enhancing its drilling efficiency, demonstrating its commitment to prudent financial management.
• - Innovative Advances: They successfully completed their first full 4-mile lateral development at the Toonie well pad, marking a significant step forward in their operational capabilities.

Detailed Financial Overview

In Q1 2026, Chord recorded a net income of $108.6 million, which translated to $1.90 per diluted share. Adjusted net income reached $258.9 million, reflecting an adjusted diluted earnings per share of $4.56, showcasing substantial profitability.

The total revenue from oil, NGL, and gas surged to $1.15 billion, outperforming last year’s figures and reflecting the company’s strong market position. Cash flows from operating activities amounted to $507.5 million, further demonstrating their adept cash generation strategies.

Strong Operational Metrics

• - Capital Expenditure: The company's capital expenditures (CapEx) were reported at $342 million, aligning with their comprehensive guidance. This consistency in spending is vital for maintaining long-term operational health.
• - Production Efficiency: Chord's lease operating expense (LOE) was held steady at $9.87 per Boe, exemplifying their cost control measures.
• - Realizations: Gas realizations were favorable, benefiting from seasonally robust regional benchmark prices, enhancing the company’s potential profitability.

Looking Ahead: 2026 Outlook

As Chord Energy prepares for the rest of the year, it is optimistic about increasing its production levels through various enhancement initiatives while minimizing any cost impacts. They forecast generating approximately $3.1 billion in adjusted EBITDA and $1.4 billion in adjusted free cash flow for 2026, showcasing their proactive engagement with market dynamics.

• - Volume Guidance: For the second quarter of 2026, they expect oil volumes to range between 162.5 to 165.5 MBopd, reflecting continued growth from optimized production strategies.
• - Investment in Infrastructure: Chord plans to accelerate the development of its 4-mile lateral programs, which is expected to account for a significant proportion of its future drilling activity.

Conclusion

Danny Brown, President and CEO of Chord Energy, emphasized the solid execution in Q1, efficient operations, and the generation of free cash flow that surpasses expectations, attributing this success to a dedicated team committed to safety and operational excellence. With a strong outlook for 2026, Chord Energy is poised to continue delivering sustained value to its shareholders while optimizing its operational potential in the oil and gas industry.