Chord Energy
Chord Energy is a premier independent exploration and production company operating in the Williston Basin, producing crude oil, NGLs and natural gas using extended-reach 4-mile lateral drilling and AI-optimized artificial lift. It sells into commodity markets and serves institutional investors and mineral/royalty owners.
- Company typePublic
- Founded2022
- HeadquartersHouston, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Chord Energy does
Chord Energy is an independent exploration and production company that develops unconventional, oil-rich resources in the Williston Basin, with concentrated acreage in North Dakota and Montana. The company produces and sells crude oil, natural gas liquids (NGL) and natural gas to refiners, petrochemical companies and commodity traders via pipeline commitments and spot market transactions priced against WTI crude and Henry Hub natural gas benchmarks. Chord also serves mineral and royalty owners through dedicated owner relations, division order management and revenue disbursement services delivered on platforms including EnergyLink and FIS.
The company's operational core is built on extended-reach drilling, most notably 4-mile lateral wells, combined with simulfrac multi-well completions and continuous-pumping techniques that have driven a 37% reduction in drilling and completion cost per foot over four years. Chord complements these drilling capabilities with an AI-driven artificial lift optimization system that covers approximately 99% of rod lift wells and has delivered ~25% improvement in pump run times, >50% improvement in ESP replacement cycle times and a meaningful reduction in workover rig days. The company is publicly traded on NASDAQ under CHRD, is incorporated in Delaware, and operates from a Houston headquarters with field offices across the Williston Basin.
Chord generates revenue primarily through commodity sales of produced hydrocarbons, supplemented by purchased oil and gas resale (approximately $515 million in Q1 2026). FY2025 oil, NGL and gas revenues were $3.9 billion on approximately 917.5 MMBoe of net proved reserves, with crude oil contributing the majority. Q1 2026 revenue reached $1.67 billion, up 37.1% year-over-year, at production of 158.0 MBopd. Capital is returned to shareholders through a $1.30 per share quarterly base dividend and aggressive buybacks that have reduced fully diluted share count by more than 5% year-over-year, with approximately $6.7 billion returned since 2021. Chord also supplements commodity cash flow with selective strategic investments, such as the 2026 investment in MaverickX's PetroX Boost enhanced recovery technology and participation in the Enverus LifeSaver field-safety consortium with Continental Resources, BPX Energy and Ranger Energy Services.
Chord Energy firmographics
Firmographics- Name
- Chord Energy
- Legal name
- Chord Energy Corporation
- Website
- https://chordenergy.com
- Company type
- Public
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Chord Energy is a premier independent exploration and production company operating in the Williston Basin, producing crude oil, NGLs and natural gas using extended-reach 4-mile lateral drilling and AI-optimized artificial lift. It sells into commodity markets and serves institutional investors and mineral/royalty owners.
- Ownership category
- akta.pro rank
Chord Energy industry classification
Industry- Product category
- Oil and Gas Exploration and Production
- NAICS
- Crude Petroleum Extraction (21112), Oil and Gas Extraction (2111)
- SIC
- Crude Petroleum & Natural Gas (1311), Oil & Gas Field Services, Nec (1389)
- akta.pro primary industry
- Directional Drilling & MWD/LWD Services (EUALABAB)
- akta.pro secondary industry
- Exploration & Production Drilling Services (RC, Core, Directional, Sonic, Auger) (IMAKAKAB)
Keywords
Where Chord Energy is headquartered
LocationHeadquarters
- HQ city
- Houston
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
Chord Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D
Revenue model
- Oil and Gas Production Revenue: Chord Energy generates revenue primarily through the sale of crude oil, natural gas liquids (NGL), and natural gas produced from its Williston Basin assets. The company reported $3.9 billion in total oil, NGL, and natural gas revenues for FY25, with crude oil revenues comprising the majority at $3.5 billion. Q1 2026 oil volumes of 158.0 MBopd exceeded the high-end of guidance.
- Purchased Oil and Gas Sales: Revenue from purchased oil and gas commodities that are resold, generating $515 million in Q1 2026. This represents commodity trading activities alongside core production operations.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Quarterly | Base Dividend |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Chord Energy product offering
Product offeringCore offering
Chord Energy is an independent exploration and production company that develops, produces, and acquires crude oil, natural gas liquids (NGL), and natural gas from high-quality assets in the Williston Basin (Bakken region). The company operates advanced extended-reach lateral drilling programs, including 4-mile laterals, and applies AI-driven artificial lift optimization to maximize production efficiency from its shale acreage. In addition to commodity production, Chord Energy provides royalty owner services and vendor management support to its operational partners and mineral interest owners.
Product overview
Chord Energy is an independent exploration and production company operating as a premier Williston Basin operator. The company offers a unified portfolio centered on crude oil, NGL, and natural gas production from its Bakken assets. Its core operational capabilities include 4-mile extended-reach lateral drilling technology and AI-driven artificial lift optimization systems that together deliver high-quality, oil-weighted production with industry-leading cost efficiency. Supporting the production business, the company provides royalty owner services for mineral and working interest owners, vendor management for contractors, and digital platforms for revenue distribution and owner inquiry handling.
Differentiator
Problem solved
Functional benefit
Products and services
- Oil and Gas Exploration and Production Independent exploration and production of crude oil, natural gas liquids (NGL), and natural gas from high-quality, oil-weighted assets in the Williston Basin (Bakken region). Producing approximately 160 MBopd with 917.5 MMBoe of estimated net proved reserves.
- Royalty Owner Services Comprehensive services for mineral and royalty owners including division order management, revenue payment processing, direct deposit, tax document services (Form 1099), and owner inquiry support. Delivered through dedicated Owner Relations team and digital platforms including EnergyLink and FIS.
- Vendor and Contractor Management Vendor onboarding and invoice management services including W-8/W-9 collection, minimum on-boarding requirements processing, and payment processing through openinvoice.com platform for contractors and suppliers.
Quantifiable outcome
- Q1 2026 production exceeded guidance by 2.6% at 158.0 MBopd
- +4 more outcomes
Companies that use Chord Energy
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
Chord Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature4 records
Chord Energy partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- MaverickXcoreMaverickX secured strategic investment from Chord Energy and Olive Tree Capital to advance its PetroX Boost production enhancement solution. Chord Energy committed to multiple early field deployments across its operated assets and will provide operational collaboration and data feedback to accelerate product optimization. Early results indicate PetroX Boost has increased recovery factors by up to 20% on core samples.
- EnveruscoreEnverus and major oil and gas operators including Chord Energy, Continental Resources, BPX Energy, and Ranger Energy Services launched the LifeSaver safety platform built on Enverus ONE platform. The platform provides real-time, job-specific safety guidance to energy field crews using mobile technology. Field pilots planned for 2026 in the Bakken region, beginning with well service and workover operations before expanding to additional basins.
- Continental ResourcescorePart of the LifeSaver safety platform consortium with Chord Energy, BPX Energy, and Ranger Energy Services, working with Enverus to provide real-time safety guidance to field crews. The consortium allows competitor companies to collaborate on shared safety challenges while maintaining control over their own safety content and data.
- BPX EnergycorePart of the LifeSaver safety platform consortium with Chord Energy, Continental Resources, and Ranger Energy Services, working with Enverus to provide real-time safety guidance to field crews through mobile technology.
- Ranger Energy ServicescorePart of the LifeSaver safety platform consortium with Chord Energy, Continental Resources, and BPX Energy, working with Enverus to provide real-time safety guidance to energy field crews. Field pilots planned for 2026 in the Bakken region.
- Gradient GeothermalminorGradient Geothermal deployed modular, portable geothermal power systems (75-300 kW units) at Chord Energy's operations in North Dakota's Williston Basin. The technology provides on-site power generation for oil and gas operations as an alternative to traditional power sources.
Scale indicators10 records
Recent moves7 records
Expansion highlights6 records
Chord Energy competitors and assessment
Company assessmentDirect peers
- Continental Resources: Large independent E&P with major Williston Basin (Bakken) acreage, making it the most directly comparable peer to Chord's core asset base. Both focus on unconventional oil development in the same formation.
- Devon Energy: Top-tier US independent E&P with significant Delaware Basin and Anadarko exposure plus Williston assets, comparable in scale, capital-return philosophy, and operational focus on extended-reach laterals.
- EOG Resources: Premier US shale E&P with multi-basin footprint and a reputation for low-cost, high-return oil development. Comparable as a benchmark for capital efficiency and premium oil-weighted production economics.
- Diamondback Energy: Permian-focused independent E&P with comparable scale (~160-200 MBopd range), similar capital-return strategy, and overlapping horizontal-drilling and completion optimization capabilities.
- Ovintiv: Multi-basin unconventional E&P with Williston (Bakken) operations among its portfolio, comparable in production mix and capital allocation discipline. Directly overlapping in the Bakken.
- Coterra Energy: Diversified independent E&P with Permian, Marcellus, and Anadarko exposure, comparable in scale and capital-return orientation, though less Williston-concentrated than Chord.
- Matador Resources: Mid-cap Permian/Delaware-focused E&P with comparable horizontal drilling, simulfrac, and capital-return tactics. Similar scale bracket and operational technology focus.
- Permian Resources: Independent Permian Basin pure-play with comparable capital discipline, scale, and acquisition-driven growth model that mirrors Chord's consolidator playbook in the Bakken.
- Crescent Energy: Oil-weighted, acquisition-driven E&P with similar capital-return profile and consolidator strategy; comparable as a mid-cap independent pursuing shareholder returns in unconventional basins.
Emerging players
- Range Resources: Independent E&P with significant Appalachia/Marcellus natural gas exposure and a long-standing capital-return model. Overlaps with Chord on capital discipline and shareholder-return emphasis, though gassy rather than oily.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Chord Energy social profiles
Digital presenceChord Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Chord Energy leadership team
Management profileNumber of profiles
Profiles8 records
Chord Energy subsidiaries and ownership
Company hierarchySubsidiaries4 records
Chord Energy funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Chord Energy M&A and investment
M&A and investmentM&A2 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Chord Energy
What does Chord Energy do?
Chord Energy is an independent exploration and production company that develops, produces, and acquires crude oil, natural gas liquids (NGL), and natural gas from high-quality assets in the Williston Basin (Bakken region). The company operates advanced extended-reach lateral drilling programs, including 4-mile laterals, and applies AI-driven artificial lift optimization to maximize production efficiency from its shale acreage. In addition to commodity production, Chord Energy provides royalty owner services and vendor management support to its operational partners and mineral interest owners.
Is Chord Energy a public or private company?
Chord Energy is a public company. It is classified as public and is currently operating.
When was Chord Energy founded?
Chord Energy was founded in 2022. It employs 501 to 1,000 people.
Where is Chord Energy based?
Chord Energy is headquartered in Houston, United States, in the North America region.
How does Chord Energy make money?
Two revenue lines are on record. Oil and Gas Production Revenue is the primary driver. The others are purchased Oil and Gas Sales.
Who are Chord Energy's main competitors?
Direct peers on record are Continental Resources, Devon Energy, EOG Resources, Diamondback Energy, Ovintiv, Coterra Energy, Matador Resources, Permian Resources and Crescent Energy. Range Resources is listed as an emerging player.
Does Chord Energy have an API?
No public API is recorded for Chord Energy.
What industry is Chord Energy in?
Chord Energy's product category is Oil and Gas Exploration and Production. Its primary akta.pro industry code is EUALABAB, Directional Drilling & MWD/LWD Services, with a secondary code of IMAKAKAB, Exploration & Production Drilling Services (RC, Core, Directional, Sonic, Auger). Its NAICS code is 21112 and its SIC code is 1311.