olivLaw · US equity research
Chord Energy Corporation CHRD
Crude Petroleum & Natural Gas · SIC 1311 · Vertical: Crude Petroleum & Natural Gas (SIC 1311)
Chord Energy is an independent oil, gas and NGL producer focused on the Williston Basin in North Dakota, with 276,620 barrels of oil equivalent per day in 2025. It stands out for its capital return policy and for the divestiture of its Marcellus assets announced in 2026.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Chord Energy Corporation (CHRD) stock was 132.33 USD (−8.00% on the day), with market capitalisation 7.2 bn USD, P/E 8.9 on diluted EPS of 14.85 USD over the last 12 months, dividend yield 3.93%, beta 0.62, 52-week range 84.99–158.13 USD. Latest reported quarter (Q2 2026): revenue of 2.2 bn USD (+84.0% YoY), net income of 525.2 m USD, diluted EPS 9.28 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 33.6
- weak (30–45)
- Bollinger (20, 2)
- 136.91 – 161.88
- below the lower band · %B -0.18 · band width 16.7%
- SMA 50 / 200
- 145.76 / 132.00
- mixed trend
- MACD (12, 26, 9)
- 0.47 / 2.36
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −4.9% | −1.1% | −3.8 pp | — |
| 3 months | +1.8% | −0.5% | +2.3 pp | — |
| 6 months | −6.0% | +4.4% | −10.4 pp | — |
| Year to date | +42.8% | +12.3% | +30.4 pp | — |
| 1 year | +48.8% | +13.5% | +35.3 pp | +18.1% |
| 3 years | −23.2% | +76.4% | −99.6 pp | +4.3% |
| 5 years | +6.7% | +63.7% | −57.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.5 bn | 1.5 bn | 1.2 bn | 1.2 bn | 1.3 bn | 1.2 bn | 1.7 bn | 2.2 bn |
| Cost of revenue | 329.6 m | 390.6 m | 111.4 m | 231.7 m | 340.9 m | 291.1 m | 509.8 m | 671.7 m |
| Operating income | 272.9 m | 265.2 m | 338.0 m | -403.2 m | 170.8 m | 91.9 m | 333.2 m | 602.7 m |
| Depreciation & amortisation | 360.2 m | 350.7 m | 349.8 m | 377.0 m | 374.9 m | 368.4 m | 384.2 m | 409.2 m |
| Interest expense | 19.1 m | 17.6 m | 15.8 m | 18.8 m | 18.7 m | 26.8 m | 26.6 m | 26.7 m |
| Income tax | 79.6 m | 48.7 m | 73.2 m | 54.2 m | 40.2 m | 31.5 m | -14.3 m | 162.1 m |
| Net income | 225.3 m | 210.6 m | 219.8 m | -389.9 m | 130.1 m | 84.4 m | 108.6 m | 525.2 m |
| Diluted EPS | 3.59 | 3.73 ≈ | 3.66 | -6.77 | 2.26 | 1.41 ≈ | 1.90 | 9.28 |
| Operating cash flow | 663.2 m ≈ | 566.5 m | 656.9 m | 419.8 m ≈ | 559.0 m ≈ | 405.0 m | 507.5 m | 1.1 bn ≈ |
| Dividends paid | 156.0 m ≈ | 92.2 m | 86.5 m | 82.4 m ≈ | 74.6 m ≈ | 74.3 m | 74.2 m | 73.5 m ≈ |
| Share repurchases | 146.1 m ≈ | 204.4 m | 215.2 m | 58.9 m ≈ | 83.8 m ≈ | 7.0 m | 67.7 m | 149.9 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 77 percentile of its own 22-quarter history (min 2.2, median 7.3, max 165.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.3 bn | 2.3 bn | 1.9 bn | 1.6 bn | 3.6 bn | 3.9 bn | 5.3 bn | 4.9 bn |
| Revenue YoY | +83.6% | +79.5% | −16.8% | unavailable | +130.8% | +6.9% | +34.8% | −7.1% |
| Net income | 123.8 m | -35.3 m | -128.2 m | 319.6 m | 1.9 bn | 1.0 bn | 848.6 m | 44.5 m |
| Net income YoY | unavailable | −128.5% | unavailable | unavailable | +480.8% | −44.8% | −17.1% | −94.8% |
| Diluted EPS | 0.52 | -0.11 | -0.41 | 15.48 | 57.55 | 23.51 | 16.02 | 0.74 |
| Diluted EPS YoY | unavailable | −121.2% | unavailable | unavailable | +271.8% | −59.1% | −31.9% | −95.4% |
| net % | 9.6% | -1.5% | -6.6% | 20.2% | 50.9% | 26.3% | 16.2% | 0.9% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 189.5 m USD
- Financial debt
- 1.5 bn USD
- Net debt
- 1.3 bn USD
- Equity
- 8.1 bn USD
- Total assets
- 13.1 bn USD
- Debt / equity
- 0.18x
- Current ratio
- 1.06x
- ROE
- 0.5%
- ROA
- 0.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.9 bn | 1.6 bn | 3.6 bn | 3.9 bn | 5.3 bn | 4.9 bn | SEC (XBRL)· 26 Feb 2026verified |
| Cost of revenue | — | — | — | 761.3 m | 1.4 bn | 975.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Gross profit | — | — | — | 3.1 bn ≈ | 3.8 bn ≈ | 3.9 bn ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Operating income | -90.2 m | 809.4 m | 1.6 bn | 1.3 bn | 1.1 bn | 197.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Depreciation & amortisation | 787.2 m | 158.3 m | 369.7 m | 598.6 m | 1.1 bn | 1.5 bn | SEC (XBRL)· 26 Feb 2026verified |
| EBITDA | 697.0 m ≈ | 967.7 m ≈ | 2.0 bn ≈ | 1.9 bn ≈ | 2.2 bn ≈ | 1.7 bn ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Interest expense | 159.3 m | 30.8 m | 29.3 m | 28.6 m | 56.5 m | 80.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | -350.9 m | 188.0 m | — | — | — | 243.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | -32.7 m | -973.0 k | -46.9 m | 315.2 m | 263.8 m | 199.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | -128.2 m | 319.6 m | 1.9 bn | 1.0 bn | 848.6 m | 44.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | -0.41 | 15.48 | 57.55 | 23.51 | 16.02 | 0.74 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 315.0 m | 20.6 m | 32.3 m | 43.4 m | 52.7 m | 57.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividend per share | — | — | 27.03 | 11.88 | 10.15 | 5.20 | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 20.0 m | 172.1 m | 593.2 m | 318.0 m | 37.0 m | 189.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Receivables | 371.2 m | 377.2 m | 781.7 m | 943.1 m | 1.3 bn | 1.1 bn | SEC (XBRL)· 26 Feb 2026verified |
| Inventories | 35.3 m | 29.0 m | 54.4 m | 72.6 m | 94.3 m | 115.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Current assets | 437.4 m | 1.6 bn | 1.5 bn | 1.4 bn | 1.6 bn | 1.5 bn | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 7.0 bn | 1.3 bn | 4.7 bn | 5.3 bn | 10.7 bn | 11.3 bn | SEC (XBRL)· 26 Feb 2026verified |
| Goodwill | 0 | — | — | 0 | 530.6 m | 0 | SEC (XBRL)· 26 Feb 2026verified |
| Intangibles (excl. goodwill) | 0 | — | — | — | — | — | SEC (XBRL)· 08 Mar 2021verified |
| Total assets | 7.5 bn | 3.0 bn | 6.6 bn | 6.9 bn | 13.0 bn | 13.1 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 17.9 m | 2.1 m | 29.1 m | 34.5 m | 68.8 m | 41.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Short-term debt | 0 | — | — | 0 | — | — | SEC (XBRL)· 08 Aug 2024verified |
| Long-term debt | 2.7 bn | 392.5 m | 394.2 m | 395.9 m | 842.6 m | 1.5 bn | SEC (XBRL)· 26 Feb 2026verified |
| Current liabilities | 602.9 m | 1.2 bn | 1.4 bn | 1.2 bn | 1.7 bn | 1.5 bn | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 3.7 bn | 1.8 bn | 2.0 bn | 1.8 bn | 4.3 bn | 5.0 bn | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 3.8 bn | 1.2 bn | 4.7 bn | 5.1 bn | 8.7 bn | 8.1 bn † | SEC (XBRL)· 26 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 892.9 m | 914.1 m | 1.9 bn | 1.8 bn | 2.1 bn | 2.0 bn | SEC (XBRL)· 26 Feb 2026verified |
| Investing cash flow | -828.8 m | -920.8 m | -682.6 m | -1.4 bn | -1.8 bn | -1.8 bn | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | -66.3 m | 161.2 m | -823.1 m | -664.7 m | -624.5 m | -82.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividends paid | 0 | 111.9 m | 654.7 m | 500.3 m | 529.9 m | 317.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Share repurchases | — | 100.0 m | 152.0 m | 239.3 m | 444.2 m | 364.9 m | SEC (XBRL)· 26 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 70 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 7.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet80
- Valuation83
- Quality59
- Growth42
- Returns100
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 68.33 – 275.59 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDA173.42 – 275.59 (Mid 245.28)13 companies used · median multiple 5.2x · quartiles 3.8x – 5.8xAPA, AR, BKV, CRGY, CRK, EOG, EQT, EXE, FANG, OVV, PHXE-P, REPX, WTI
- Peers: P/E125.48 – 187.36 (Mid 151.44)22 companies used · median multiple 10.2x · quartiles 8.4x – 12.6xAMPY, APA, AR, BKV, CRK, DMLP, DVN, EOG, EQT, EXE, GPRK, HESM, INR, KGEI, MXC, OVV, OXY, PR, REPX, SM, TTE, WDS
- Dividend discount (DDM)68.33 – 91.90 (Mid 78.38)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 70/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 11.1% | 61 (vs peers) | 13% |
| Net margin · Quality | 13.4% | 57 (vs peers) | 8% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 10.2% | 85 (on a fixed band) | 10% |
| EPS CAGR 3Y · Growth | -76.6% | 0 (on a fixed band) | 10% |
| Net debt / EBITDA · Balance sheet | 0.3x | 86 (vs peers) | 13% |
| Interest coverage · Balance sheet | 12.1x | 100 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 1.2x | 35 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 8.9x | 74 (vs peers) | 13% |
| EV/EBITDA · Valuation | 3.0x | 93 (vs peers) | 13% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 8.4% | 100 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet80/100 · 3/3 factors with a value
- Growth42/100 · 2/2 factors with a value
- Quality59/100 · 2/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation83/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Chord Energy Corporation (CHRD). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 4.9 bn USD in 2025; YoY growth -7.1%; net margin 13.4%; ROE 10.3%; net debt/EBITDA 0.3x.
The estimated value range is 125.48–187.36 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 151.44 USD, the price of 132.33 USD leaves a potential of 14.4% (value / price − 1) and a margin of safety of 12.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 70/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 10.2%
- Net debt / EBITDA: 0.3x
- Interest coverage: 12.1x
- P/E (TTM): 8.9x
- EV/EBITDA: 3.0x
- Shareholder yield (distributions): 8.4%
What contradicts it
- EPS CAGR 3Y: -76.6%
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF conversion, FCF yield, Payout ratio (FCF).
Versus the vertical median
Crude Petroleum & Natural Gas (SIC 1311) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| TTETotalEnergies SE | 199.6 bn | 15.7 | 11.3% | 6.5% | −6.2% | +38% / +33% |
| EOGEog Resources, Inc. | 77.1 bn | 11.4 | 22.5% | 25.4% | −4.5% | +36% / +19% |
| OXYOccidental Petroleum Corporation | 57.3 bn | 8.6 | 18.9% | 33.7% | −1.9% | +37% / −3% |
| FANGDiamondback Energy, Inc. | 51.1 bn | 25.0 | 5.3% | 11.0% | +35.8% | +20% / +18% |
| DVNDevon Energy Corp | 48.5 bn | 10.5 | 11.5% | 16.7% | +7.8% | +19% / −2% |
| WDSWoodside Energy Group Ltd | 40.9 bn | 15.1 | 7.6% | 20.9% | −1.5% | +31% / +6% |
| EQTEqt Corporation | 32.9 bn | 12.5 | 10.9% | 28.4% | +63.9% | −14% / +31% |
| EXEExpand Energy Corporation | 20.2 bn | 7.6 | 14.6% | 19.8% | +186.3% | −28% / +9% |
| PRPermian Resources Corporation | 18.8 bn | 14.9 | 11.5% | 21.5% | +1.3% | +55% / +71% |
| OVVOvintiv Inc. | 16.8 bn | 12.7 | 12.1% | 12.8% | −2.7% | +53% / +41% |
| APAApa Corporation | 15.6 bn | 9.4 | 25.9% | — | unavailable | +78% / +24% |
| ARAntero Resources Corporation | 11.5 bn | 8.4 | 17.6% | 21.7% | +22.0% | +3% / +58% |
| SMSm Energy Co | 7.3 bn | 7.5 | 15.0% | 13.7% | +17.2% | +63% / −17% |
| CHRDChord Energy Corporation | 7.2 bn | 8.9 | 10.3% | 13.4% | −7.1% | +49% / −23% |
| CRGYCrescent Energy Company | 5.0 bn | 79.8 | 1.3% | 1.3% | +22.1% | +24% / +3% |
| CRCCalifornia Resources Corp | 4.3 bn | — | -15.5% | -18.1% | +14.7% | +1% / −6% |
| HESMHess Midstream LP | 4.1 bn | 10.9 | — | 23.2% | +8.4% | −6% / −2% |
| CRKComstock Resources, Inc. | 3.9 bn | 7.6 | 21.1% | 23.3% | +77.0% | −50% / +36% |
| PHXE-PPhoenix Energy One, LLC | 2.6 bn | 332.2 | 49.7% | 0.7% | +144.4% | +26% / unavailable |
| NOGNorthern Oil And Gas, Inc. | 2.4 bn | — | -22.1% | -25.4% | +11.2% | −1% / −40% |
| BKVBKV Corp | 2.1 bn | 6.8 | 14.1% | 19.5% | +9.9% | −31% / unavailable |
| DMLPDorchester Minerals, L.P. | 1.4 bn | 15.6 | — | 45.5% | −5.4% | +27% / −5% |
| TBNTamboran Resources Corporation | 982.4 m | — | -4.8% | — | unavailable | +18% / unavailable |
| REPXRiley Exploration Permian, Inc. | 948.6 m | 9.2 | 16.8% | 17.3% | −4.4% | +57% / +74% |
| TTITETRA Technologies, Inc. | 917.3 m | 100.8 | 2.5% | 1.4% | +5.3% | −20% / +31% |
1- and 3-year price returns: for CHRD from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 86.34 Total return -31% · Per year -31% | 152.25 Total return 20% · Per year 20% | 228.79 Total return 78% · Per year 78% |
| 3 years | 93.63 Total return -19% · Per year -7% | 184.81 Total return 55% · Per year 16% | 303.50 Total return 148% · Per year 35% |
| 5 years | 101.53 Total return -5% · Per year -1% | 224.33 Total return 97% · Per year 15% | 402.61 Total return 241% · Per year 28% |
- Exit P/E± 46.20
- Net margin± 32.34
- Annual revenue growth± 25.18
- Annual dilution± 2.72
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 19 Oct 2026; since then the company filed 8-K (04 Nov 2026 · results).
In brief
Chord Energy is an independent oil, gas and NGL producer focused on the Williston Basin in North Dakota, with 276,620 barrels of oil equivalent per day in 2025 1. It stands out for its capital return policy and for the divestiture of its Marcellus assets announced in 2026 2.
SWOT
Strengths
- Large acreage position in the Williston Basin and operational control over most reserves, allowing management of the investment pace.
- Clear return of capital policy, combining a base dividend with share repurchases.
- Balance sheet described by management as strong, with available liquidity and no near-term debt maturities.
Weaknesses
- High dependence on the crude oil price, which makes revenue and profit volatile.
- Reduced net income in 2025, also affected by a non-cash goodwill impairment.
- Geographic concentration in the Williston Basin, which increases exposure to local risks.
Opportunities
- Growth potential through acquisitions that add long-life drilling inventory.
- Using divestiture proceeds for share repurchases or debt reduction.
- Expanded pipeline and rail takeaway could improve realized prices.
Threats
- Crude price declines from OPEC+ decisions or weaker demand.
- Higher interest rates or tighter credit could make capital harder to obtain.
- Environmental rules and trade tensions could raise operating costs.
Risks
- Commodity priceshigh
A fall in crude, gas or NGL prices could reduce cash flow, borrowing capacity and reserve value 1.
- OPEC+ decisionshigh
Production choices by OPEC+ members can cause sharp price volatility 1.
- Reserve uncertaintymedium
Reserve estimates depend on price and production assumptions, and errors could change the present value of assets 1.
- Financing conditionsmedium
High interest rates and bank constraints could limit access to finance on acceptable terms 1.
- Completion of the divestiturelow
The Marcellus sale might not close or might bring lower benefits than expected 2.
Investment thesis
What would need to be true (bull case)
- A large acreage position and operational control could let the company keep output and return capital even in moderate price periods.
- The 2026 price recovery and above-guidance volumes in the third quarter could support adjusted free cash flow.
- The divestiture of non-operated assets and a solid balance sheet could provide flexibility for new acquisitions or buybacks.
What would break the thesis
- Dependence on the crude price could cause profits to drop quickly if the market weakens.
- Lower 2025 net income and impairments show the balance sheet's sensitivity to price declines.
- Geographic concentration could amplify the effects of local infrastructure or regulatory problems.
What to watch
- Completion of the Marcellus asset divestitureQ4 2026
- Final financial report for the third quarter of 2026Q4 2026
- Level of the dividend and share repurchases2027
- WTI and Henry Hub price trends and OPEC+ decisions2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 19 Oct 2026; since then the company filed 8-K (04 Nov 2026 · results).
The business
Chord Energy Corporation is an independent exploration and production (E&P) company in Delaware that acquires, explores, develops and produces crude oil, NGL and natural gas, primarily in the Williston Basin, with limited non-operated interests in the Marcellus Shale 1. It gained a large acreage position through the Enerplus acquisition of May 2024, a stock-and-cash transaction 1. Its strategy emphasizes capital discipline, free cash flow and return of capital to shareholders 1.
Market context
Trends
- Volatile oil pricesheadwind
Swings in crude prices, driven by OPEC+ and geopolitical tensions, reduced 2025 revenue and could weigh on cash flow again 1.
- Price recovery in 2026tailwind
The third-quarter 2026 WTI average was higher than the prior year, which could support adjusted free cash flow if the trend continues 2.
- Expanded transport infrastructuremixed
Pipeline and rail expansion in the Williston Basin improved realized prices at the lease, but depends on long-term takeaway capacity 1.
- Climate and trade policy pressuremixed
Environmental rules and tariffs could raise costs or limit exports, with uncertain effects on U.S. producers 1.
Competitive position
Chord Energy competes with other independent producers that hold acreage and drill in the same formations, but the primary sources do not give a full list of rivals. The company says it holds the largest acreage position in the Williston Basin, which gives it a scale advantage 1.
The company's edge lies in operational control over most of its portfolio and in flexibility to choose pipeline or rail for crude sales 1. Competition for acquisitions, labor and equipment remains a constant pressure 1.
- Other independent producers in the Williston Basin
The primary sources do not name direct rivals; they are mentioned only generally as other operators in the basin.
- Marcellus Shale operators
Marcellus rivals are referred to generically in the analyzed sources, without explicit names.
- Sellers and buyers of basin assets
Asset acquisitions in the basin involve other participants who are not named in the document.
- Oil producers in other U.S. regions
Competition for demand and prices also comes from other basins, without explicit identification in the sources.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- 100 million views: why China’s viral AI rap track has struck a chordSouth China Morning Post — China · 26 Oct 2026 · EN
- Chord Energy (CHRD) Signs $550 Million Marcellus Sale. Is Greater Focus Worth it?Yahoo Finance — News · 20 Sept 2026 · EN
- Kodak surges to Japan's top camera brand after striking a chord with Gen ZNikkei Asia · 17 Sept 2026 · EN
- Malaysian PM Anwar strikes a chord at BRICS summit with Bollywood tunesThe Straits Times — Asia · 13 Sept 2026 · EN
- Solsong Chord UpdatesLessWrong · 10 Jun 2026 · EN
The latest news item in our archive is from 26 Oct 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report04 Nov 2026Results of operations · Financial statements and exhibits
- Current report (amendment)02 Nov 2026Departure or appointment of officers · Financial statements and exhibits
- Current report19 Oct 2026Results of operations · Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Departure or appointment of officers
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Quarterly report07 May 2026
- Current report05 May 2026Results of operations · Financial statements and exhibits
- Current report01 May 2026Shareholder vote · Financial statements and exhibits
- Proxy statement19 Mar 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Chord Energy Corporation · 26 Feb 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Chord Energy Corporation · 19 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.