Chord Energy Corp - New
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −8.32%.
Did CHRD Beat Earnings? Q4 2025 Results
Chord Energy posted a mixed fourth quarter for 2025, delivering a revenue beat that masked a meaningful earnings miss as weaker crude prices squeezed the bottom line. The Williston Basin producer reported revenue of $1.17 billion, topping the $1.02 billion consensus by 14.85%, though the year-over-year comparison remained a headwind with revenue down 19.6% from a year earlier. On the earnings side, adjusted EPS of $1.28 fell short of the $1.54 consensus by 16.88%, with crude oil realizations of $56.90 per barrel, down from $63.59 a year ago, identified as the primary drag alongside higher DD&A charges. The quarter also saw the completion of the XTO Energy acquisition, a roughly $542.20 million deal that added core Williston Basin acreage and helped push proved reserves to 917.5 MMBoe. Oil volumes of 153.0 MBopd hit the high end of guidance while capital spending came in below the low end, underscoring disciplined execution. Looking ahead, Chord guided 2026 oil volumes of 157 to 161 MBopd on approximately $1.40 billion in capital expenditures, with analysts already noting the stock trades at a notable discount to price targets even after a recent target trim.
- Oil volumes at high end of Q4 guidance at 153.0 MBopd
- Capital expenditures below low end of Q4 guidance
- LOE of $9.72/Boe in line with guidance midpoint
- FY25 CapEx more than $100MM below pro forma FY24 with oil volumes 1% higher YoY
- Generated approximately $160MM in incremental run-rate free cash flow in FY25 through continuous improvement
- Improved inventory quality by lowering weighted average breakeven >10% year-over-year
- Drilling team led the Williston Basin in total lateral footage drilled in 2025
- Approximately 1,200 fewer workover rig days in 2025 from optimization improvements
“2025 was an outstanding year for Chord. We demonstrated consistent execution, both increasing volumes and lowering capital relative to original expectations. Importantly, Chord also significantly enhanced its cost structure through multiple initiatives, which resulted in improved free cash flow while increasing and improving the quality of our inventory. The company made significant progress derisking its extended lateral program and is hitting the ground running in 2026.”
Chord Energy CEO, on the earnings call
Forward Guidance & Outlook
Chord's 2026 outlook targets oil volumes of 157–161 MBopd with total CapEx of $1,350–$1,450MM. The company expects approximately $2.3B of Adjusted EBITDA and $700MM of Adjusted Free Cash Flow at $64/Bbl WTI and $3.75/MMBtu Henry Hub. Q1 2026 oil volumes are guided at 152.5–155.5 MBopd reflecting ~1 MBopd of weather impacts, with sequential growth expected into Q2 and Q3 2026. Approximately 40% of 2026 TILs are expected to be 4-mile laterals. The company plans 135–165 gross operated well TILs with ~75% average working interest. Cash taxes are expected at 1%–5% of EBITDA at $55–$70/Bbl WTI. Approximately 80% of FY26 CapEx is expected in Q1–Q3 2026.
CHRD YoY Financials
CHRD Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.