Chord energy reports first quarter 2024 financial and operating results, declares base and variable dividends, issues second quarter outlook and provides update on pending combination with enerplus

Houston , may 7, 2024 /prnewswire/ -- chord energy corporation (nasdaq: chrd) ("chord", "chord energy" or the "company") today reported financial and operating results for the first quarter 2024. 1q24  operational and financial highlights: oil volumes of 99.0 mbopd exceeded the high-end of guidance; lease operating expense of $10.39/boe was below the low-end of guidance; total volumes of 168.4 mboepd; e&p and other capex of $257.7mm (including $3.9mm of reimbursed non-operated capital); 1q24 volumes and capital reflect activity acceleration driven by cycle-time improvement, along with strong well performance; net cash provided by operating activities was $406.7mm and net income was $199.4mm; adjusted ebitda(1) was $464.8mm and adjusted free cash flow(1) was $199.6mm; and chord and enerplus corporation ("enerplus") expect to complete the previously announced transaction to combine on may 31, 2024, subject to customary closing conditions.
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