Chord Energy Corporation reported its financial results for the first quarter of 2026, revealing total revenues of $1.67 billion, a significant increase from $1.22 billion in the same period last year. The company's net income for the quarter was $108.6 million, down 51% from $219.8 million in Q1 2025. This decline was primarily attributed to a substantial unrealized loss on commodity derivative contracts, which was influenced by an upward shift in crude oil futures prices. The company’s earnings per share were $1.90, compared to $3.67 in the prior year.
In terms of operational performance, Chord Energy's production volumes averaged 275,615 barrels of oil equivalent per day (Boepd), with crude oil production accounting for 57% of this total. The company reported an increase in crude oil revenues to $996.3 million, driven by higher production volumes and improved pricing, despite a slight decrease in average realized prices compared to the previous year. The average sales price for crude oil was $70.05 per barrel, reflecting a modest increase from $69.11 in Q1 2025.
The company also made strategic moves during the quarter, including capital expenditures of $344.9 million, primarily focused on the development of oil and gas properties. Chord Energy continued its share repurchase program, buying back $70.7 million worth of common stock, and declared a base cash dividend of $1.30 per share, payable in June 2026. The company’s liquidity position remained strong, with $2.19 billion available, including $225.8 million in cash and cash equivalents and $1.97 billion in unused borrowing capacity under its credit facility.
Operationally, Chord Energy faced increased lease operating expenses, which rose to $9.87 per Boe, attributed to higher workover activity and costs associated with non-operated assets. The company also recorded a net loss of $241.5 million on derivative instruments, a stark contrast to the previous quarter's gain, highlighting the volatility in commodity prices. Looking ahead, Chord Energy remains focused on optimizing its production and marketing strategies while navigating the challenges posed by fluctuating market conditions and geopolitical factors affecting oil prices.
About Chord Energy Corp
Chord Energy Corporation is an independent exploration and production company focused on acquiring, exploring, developing, and producing crude oil, NGLs, and natural gas primarily in the Williston Basin. It controls extensive leasehold acreage, operates most of its wells, and leverages advanced drilling technologies. The company emphasizes capital discipline, sustainable free cash flow, and responsible environmental practices, serving North American energy markets with a competitive advantage in resource-rich, high-quality assets.
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