Chord Energy Corp

Chord Energy, formerly Oasis Petroleum, is an independent oil and gas producer. It drills wells and sells the crude oil, natural gas liquids (NGLs) and natural gas they yield. Nearly all its operations are in the Williston Basin, a top U.S. oil region, where it targets the Middle Bakken and Three Forks rock layers. It also has small stakes in Marcellus Shale wells run by others.

As of December 31, 2025, Chord held leases on 1,302,921 net acres there, which it says is the basin's largest position, and operated 5,025 producing wells. Output averaged 276,620 barrels of oil equivalent (gas converted to oil by energy content) per day in 2025. Independent engineers put its proved reserves, the oil and gas it is reasonably certain it can produce profitably, at 917.5 million barrels of oil equivalent, 56% of it crude. Buying Canada's Enerplus on May 31, 2024 added scale.

Crude oil drives the business. Of $4.88 billion in 2025 revenue, its own crude oil made up 72.7% and its own NGLs and gas 7.2%. Reselling oil bought from others added 19.5%, and reselling purchased NGLs and gas 0.6%; those sales come with purchase costs. The company aims to limit spending and return much of its free cash flow (cash left after costs and drilling) to shareholders.

• In Q2 FY2026 (ended Jun 30, 2026), revenue was $2.17B, up 84% from a year earlier, and net income was $525.2M.
• For fiscal 2025, revenue was $4.88B (-7.1% year over year; +32.6% a year from FY2021 to FY2025) with a 0.9% net margin.

• Over FY2021–FY2025: $1.30B in buybacks and $2.11B in dividends.
• Regular dividends per share grew +9.5% a year over 4 years (FY2021–FY2025).
• Dividends took 714.7% of earnings in the latest fiscal year.
• Shares outstanding changed -7.7% from Nov 2, 2021 to Aug 3, 2026.

Rank among 1514 US companies

Market value at each year end

Chord Energy’s market value went from $8.54B at the end of 2022 to $8.43B on Oct 28, 2026, down 1%; since the end of 2025 it is up 60%.

Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 20 sales ($11.1M), 5 of them under pre-arranged 10b5-1 trading plans.

Large shareholders (13G filings)

ETFs with the most weight in CHRD

1. Almost everything sits in one basin. Substantially all of Chord's producing properties are in the Williston Basin. Local trouble, such as severe seasonal weather, pipeline shortages or new state rules, can hit the whole company at once.
2. Profits rise and fall with oil prices. Crude oil made up 72.7% of 2025 revenue. A long price slump, perhaps from OPEC+ oil-exporting nations pumping more, would shrink cash flow and dividends and could force write-downs of oil and gas properties.
3. Depends on a few pipeline operators. Chord relies on a limited number of outside pipeline and processing companies to move its oil and gas. If capacity runs short, it may have to accept steep price discounts to reach buyers.
4. Variable dividends can shrink fast. Payouts above the $1.30 quarterly base depend on free cash flow and debt levels. Dividends per share fell from $27.03 for 2022 to $5.20 for 2025, and even the base is not guaranteed.
5. Production declines without constant reinvestment. Unless Chord keeps drilling or buying new reserves, its production will decline. Reserve estimates rest on assumptions that may prove wrong, and undeveloped reserves may cost more or take longer to tap.
6. Tribal, federal and state rules overlap. Some operations sit on North Dakota's Fort Berthold Indian Reservation, under federal, state, local and tribal law. Rules on fracking, water use and climate could also raise costs or delay new wells.

• Oct 19, 2026 Quarterly results released; Executive or board change; Investor presentation or announcement
• Aug 6, 2026 Executive or board change
• Aug 5, 2026 Quarterly results released
• May 5, 2026 Quarterly results released
• May 1, 2026 Shareholder vote results
• Feb 25, 2026 Quarterly results released
• Nov 4, 2025 Quarterly results released

Chord pays a base dividend of $1.30 a quarter ($5.20 a year), plus variable dividends and buybacks when free cash flow and debt allow. The yield was 3.38% on October 28, 2026. It has no streak of yearly increases: dividends per share peaked at $27.03 for 2022 and fell each year to $5.20 for 2025. In 2025, dividends paid were more than seven times net income, which dropped 94.8%. From 2021 through 2025, Chord paid $2.11 billion in dividends and spent $1.3 billion on buybacks.

The price record begins about four years before October 28, 2026, too late to show how the stock fared in 2008, 2020 or the 2022 bear market. In the three years to that date, it fell as much as 53.9% from a peak. It lost 24.3% in 2024 and 16.4% in 2025, then gained 70.9% in 2026 through October 28. A single stock carries more risk than a diversified fund.