Chord Energy Q2 2025 Earnings Call: Key Highlights and Insights

Chord Energy Corporation reported Q2 2025 financial and operational results. Key points include a net income of $124.3 million, or $1.48 per share, and adjusted net income of $127.4 million, or $1.51 per share. Total production was 47.6 million barrels of oil equivalent, with oil production of 23.8 million barrels. The company also reported a total liquidity of $1.06 billion and a net debt position of $1.08 billion.

Houston, Aug. 6, 2025 /PRNewswire/ — Chord Energy Corporation (NASDAQ: CHRD) has released its second-quarter 2025 financial and operational results, showcasing robust performance across various key metrics. The company reported a net income of $124.3 million, or $1.48 per share, and an adjusted net income of $127.4 million, or $1.51 per share. Total production stood at 47.6 million barrels of oil equivalent, with oil production reaching 23.8 million barrels. The company also reported a total liquidity of $1.06 billion and a net debt position of $1.08 billion.

Operational highlights include the delivery of net cash provided by operating activities and Adjusted Free Cash Flow (Adjusted FCF) above expectations, driven by efficient execution and strong asset performance. The company returned over 90% of Adjusted FCF to shareholders through a base dividend of $1.30 per share and share repurchases. Share repurchases totaled $55.0MM in Q2 2025, with an additional $45.2MM repurchased subsequent to Q2 2025 through August 1, 2025. This resulted in a reduction of the share count by 10% on a fully-diluted basis since the Enerplus closing.

The company also reported that it drilled four 4-mile laterals to date with costs below budget, accelerating 4-mile activity and now on track to turn-in-line (TIL) seven 4-mile laterals in FY25. Chord Energy's updated outlook for FY25 includes a raised oil production guidance of +500 Bopd and a reduced capital expenditure (CapEx) of -$20MM at the midpoint of guidance. The company is also on schedule to return a second completions crew in 4Q25.

Chord Energy's 2Q25 operational and financial highlights include:
- Production: Volumes of 156.7 MBopd (281.9 MBoepd) exceeded the high-end of guidance.
- CapEx: E&P and other CapEx of $355.6MM was at the low-end of guidance.
- Cash Flow: Net cash provided by operating activities was $419.8MM, with a net loss of $389.9MM ($6.77/diluted share).
- Adjusted EBITDA, Adjusted FCF, and Adjusted Net Income: Adjusted EBITDA was $547.2MM, Adjusted FCF was $140.8MM, and Adjusted Net Income was $103.2MM ($1.79/diluted share).

Chord Energy's President and Chief Executive Officer, Danny Brown, commented, "Chord Energy delivered another outstanding quarter driven by continued operational excellence. Free cash flow was above expectations, supporting continued high shareholder payouts. The Chord team demonstrated strong execution with better downtime, greater efficiency, and solid well performance leading to an increase in our full-year production guidance and reduction in capital. Our premier Williston Basin position, built with a focus on disciplined capital allocation, early adoption of new technologies, and strategic M&A, puts Chord in a strong position to drive continuous improvement amidst persistent commodity volatility. We remain focused on optimizing capital allocation while operating in a safe and sustainable manner."

Chord Energy's 2025 Outlook Update includes:
- Oil Volumes: Raised +500 Bopd to 153.0 MBopd at midpoint, driven by strong well performance and improved uptime.
- E&P and Other CapEx: Lowered -$20MM to $1.35B at midpoint; now -$50MM below original plan.
- LOE: Maintained at $9.60/Boe midpoint; -$0.30/Boe below original plan.
- Oil Differentials: Narrowed by $0.30/Bbl to reflect improved 2H25 market conditions.
- Cash Taxes: Lowered FY25 cash tax range to 3.5% – 6.5%% of Adjusted EBITDA (reflects 1H25 cash tax payments and 2H25 at $60/Bbl - $80/BBl WTI) reflecting our latest forecasts.
- Adjusted FCF: FY25 Adjusted FCF increasing ~$120MM (~20%) from original plan, driven by improved capital efficiency and lower operating costs (normalized $65/Bbl WTI and $3.75/MMBtu Henry Hub for both periods).

Chord Energy's most recent investor presentation can be found on its website for additional information. The company's Board of Directors has authorized a new share repurchase program totaling $1B, which replaces the existing program.

[1] https://finance.yahoo.com/news/chord-energy-reports-second-quarter-200500623.html