Chord Energy Corp. Files 2023 Annual Report on Form 10-K

Ticker: CHRD · Form: 10-K · Filed: Feb 26, 2024 · CIK: 1486159

Chord Energy Corp 10-K Filing Summary
FieldDetail
CompanyChord Energy Corp (CHRD)
Form Type10-K
Filed DateFeb 26, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

Topics: Chord Energy, CHRD, 10-K, Annual Report, Oil and Gas

TL;DR

<b>Chord Energy Corp. has submitted its 2023 annual report (10-K) detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Chord Energy Corp (CHRD) filed a Annual Report (10-K) with the SEC on February 26, 2024. Chord Energy Corp. filed its 2023 Form 10-K on February 26, 2024. The filing covers the fiscal year ending December 31, 2023. The company was formerly known as Oasis Petroleum Inc. and changed its name on March 3, 2010. Chord Energy Corp. operates in the Crude Petroleum & Natural Gas industry (SIC 1311). The company's principal business address is 1001 Fannin Street, Suite 1500, Houston, TX 77002.

Why It Matters

For investors and stakeholders tracking Chord Energy Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Chord Energy's financial health, operational activities, and strategic direction for the past fiscal year, crucial for investors assessing its performance and future prospects. As a significant player in the crude petroleum and natural gas sector, the company's annual report offers insights into industry trends, market conditions, and the company's competitive positioning within the energy landscape.

Risk Assessment

Risk Level: medium — Chord Energy Corp shows moderate risk based on this filing. The company operates in the volatile oil and gas industry, which is subject to significant price fluctuations and regulatory changes, as indicated by its SIC code and the nature of its business.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Chord Energy's performance and potential challenges in the energy market.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Period covered by the report)
  • 2024-02-26 — Filing Date (Date the 10-K was filed)
  • 1311 — SIC Code (Standard Industrial Classification for Crude Petroleum & Natural Gas)

Key Players & Entities

  • Chord Energy Corp. (company) — Filer name
  • Oasis Petroleum Inc. (company) — Former company name
  • 1001 Fannin Street, Suite 1500, Houston, TX 77002 (address) — Business and mailing address

FAQ

When did Chord Energy Corp file this 10-K?

Chord Energy Corp filed this Annual Report (10-K) with the SEC on February 26, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Chord Energy Corp (CHRD).

Where can I read the original 10-K filing from Chord Energy Corp?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Chord Energy Corp.

What are the key takeaways from Chord Energy Corp's 10-K?

Chord Energy Corp filed this 10-K on February 26, 2024. Key takeaways: Chord Energy Corp. filed its 2023 Form 10-K on February 26, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company was formerly known as Oasis Petroleum Inc. and changed its name on March 3, 2010..

Is Chord Energy Corp a risky investment based on this filing?

Based on this 10-K, Chord Energy Corp presents a moderate-risk profile. The company operates in the volatile oil and gas industry, which is subject to significant price fluctuations and regulatory changes, as indicated by its SIC code and the nature of its business.

What should investors do after reading Chord Energy Corp's 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to understand Chord Energy's performance and potential challenges in the energy market. The overall sentiment from this filing is neutral.

How does Chord Energy Corp compare to its industry peers?

Chord Energy Corp. operates within the Crude Petroleum & Natural Gas industry, a sector characterized by exploration, extraction, and production of oil and gas resources.

Are there regulatory concerns for Chord Energy Corp?

As a publicly traded company in the energy sector, Chord Energy Corp. is subject to regulations from the Securities and Exchange Commission (SEC) and potentially environmental and operational regulations specific to the oil and gas industry.

Industry Context

Chord Energy Corp. operates within the Crude Petroleum & Natural Gas industry, a sector characterized by exploration, extraction, and production of oil and gas resources.

Regulatory Implications

As a publicly traded company in the energy sector, Chord Energy Corp. is subject to regulations from the Securities and Exchange Commission (SEC) and potentially environmental and operational regulations specific to the oil and gas industry.

What Investors Should Do

  1. Analyze Chord Energy's financial statements for the fiscal year 2023 to understand revenue, expenses, and profitability.
  2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and strategic initiatives.
  3. Examine the risk factors section to identify potential challenges and their impact on the company's future operations.

Key Dates

  • 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
  • 2024-02-26: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for Chord Energy Corp. as a consolidated entity for the full fiscal year 2023, following its formation or significant changes.

Filing Stats: 4,534 words · 18 min read · ~15 pages · Grade level 13.8 · Accepted 2024-02-26 17:04:34

Key Financial Figures

  • $0.01 — ch registered Common Stock , par value $0.01 per share CHRD The Nasdaq Stock Market

Filing Documents

Business

Business 10 Item 1A.

Risk Factors

Risk Factors 35 Item 1B. Unresolved Staff Comments 58 Item 1C. Cybersecurity 58 Item 2.

Properties

Properties 60 Item 3.

Legal Proceedings

Legal Proceedings 60 Item 4. Mine Safety Disclosures 60 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 61 Item 6. [Reserved] 62 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 63 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 76 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 78 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 130 Item 9A.

Controls and Procedures

Controls and Procedures 130 Item 9B. Other Information 130 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 131 PART III Item 10. Directors, Executive Officers and Corporate Governance 132 Item 11.

Executive Compensation

Executive Compensation 132 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 132 Item 13. Certain Relationships and Related Transactions, and Director Independence 132 Item 14. Principal Accountant Fees and Services 132 PART IV Item 15. Exhibits, Financial Statement Schedules 133 Item 16. Form 10-K Summary 137

Signatures

Signatures 138 1 Table of Contents GLOSSARY OF TERMS The terms defined in this section are used throughout this Annual Report on Form 10-K: " Basin ." A large natural depression on the earth's surface in which sediments generally brought by water accumulate. " Bbl ." One stock tank barrel, of 42 U.S. gallons liquid volume, used herein in reference to crude oil, condensate, natural gas liquids or fresh water. " Bcf ." One billion cubic feet of natural gas. " Boe ." Barrels of oil equivalent, with 6,000 cubic feet of natural gas being equivalent to one barrel of crude oil. "Boepd." Barrels of oil equivalent per day. " British thermal unit ." The heat required to raise the temperature of a one-pound mass of water from 58.5 to 59.5 degrees Fahrenheit. " Completion ." The process of treating a drilled well followed by the installation of permanent equipment for the production of natural gas or oil, or in the case of a dry hole, the reporting of abandonment to the appropriate agency. " DAPL ." Dakota Access Pipeline. " Developed acreage ." The number of acres that are allocated or assignable to productive wells or wells capable of production. " Developed reserves ." Reserves of any category that can be expected to be recovered through existing wells with existing equipment and operating methods or for which the cost of required equipment is relatively minor when compared to the cost of a new well. " Development well ." A well drilled within the proved area of a crude oil or natural gas reservoir to the depth of a stratigraphic horizon known to be productive. " Dry hole ." A well found to be incapable of producing hydrocarbons in sufficient quantities such that proceeds from the sale of such production exceed production expenses and taxes. " Economically producible ." A resource that generates revenue that exceeds, or is reasonably expected to exceed, the costs of the operation. " Environmental assessment ." An environmental assessment, a study that c

Forward-looking statements may include statements about

Forward-looking statements may include statements about: crude oil, NGLs and natural gas realized prices; uncertainty regarding the future actions of foreign oil producers and the related impacts such actions have on the balance between the supply of and demand for crude oil, NGLs and natural gas; the actions taken by OPEC+ with respect to oil production levels and announcements of potential changes in such levels, including the ability of the OPEC+ countries to agree on and comply with supply limitations; war between Russia and Ukraine as well as war between Hamas and Israel, with the potential for escalation of hostilities across the surrounding countries in the Middle East, and their effect on commodity prices; general economic conditions; inflation rates and the impact of associated monetary policy responses, including increased interest rates; logistical challenges and supply chain disruptions; our business strategy; the geographic concentration of our operations; estimated future net reserves and present value thereof; timing and amount of future production of crude oil, NGLs and natural gas; drilling and completion of wells; estimated inventory of wells remaining to be drilled and completed; costs of exploiting and developing our properties and conducting other operations; availability of drilling, completion and production equipment and materials; availability of qualified personnel; infrastructure for produced and flowback water gathering and disposal; gathering, transportation and marketing of crude oil, NGLs and natural gas in the Williston Basin and other regions in the United States; the possible shutdown of the Dakota Access Pipeline; the expected timing and closing of the Arrangement (as defined in the "Overview" section of Item 1 below); the possibility that required shareholder approvals related to the Arrangement may not be obtained; the risk that a condition to closing the Arrangement may not be satisfied; the risk that eith

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