Chord energy reports strong third quarter 2023 financial and operating results and increases share repurchase authorization to $750mm

Houston , nov. 1, 2023 /prnewswire/ -- chord energy corporation (nasdaq: chrd) ("chord", "chord energy" or the "company") today reported third quarter 2023 financial and operating results and announced an increase to its share repurchase authorization. operational and financial highlights: oil volumes of 101.4 mbopd and total volumes of 176.0 mboepd both exceeded the high-end of guidance; e&p and other capex of $254.2mm was below the midpoint of guidance; net cash provided by operating activities was $399.5mm and net income was $209.1mm; adjusted ebitda(1) was $469.1mm and adjusted free cash flow(1) was $207.4mm; total return of capital was set at $156mm, or 75% of adjusted free cash flow; share repurchases totaled $112.3mm (weighted average price of $159.57 per share), including $52.0mm attributable to 3q23 return of capital; new $750mm share repurchase program (~10% of market capitalization2); declared a base-plus-variable cash dividend of $2.50 per share of common stock.
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