Chord Energy

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.

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

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

• Oil and gas production
• Exploration and production
• Williston Basin operations
• Extended-reach drilling
• Natural gas liquids

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. 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.
2. 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

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core 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

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• MaverickXcoreStrategic or Co-development Partner · 20 May 2026MaverickX 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.
• EnveruscoreTechnology or Integration · 5 May 2026Enverus 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 ResourcescoreStrategic or Co-development Partner · 5 May 2026Part 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 EnergycoreStrategic or Co-development Partner · 5 May 2026Part 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 ServicescoreStrategic or Co-development Partner · 5 May 2026Part 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 GeothermalminorStrategic or Co-development Partner · 21 May 2025Gradient 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

Direct 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

• LinkedInlinkedin.com/company/chordenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chord Energy