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CHRD 資訊
CHRD 事件
Expand Energy Appoints Daniel Brown as New CEO
Expand Energy (EXE) announced that its board has appointed Daniel Brown as president and CEO, effective October 26. Brown will also be appointed to the board. Michael Wichterich, who has served as interim president and CEO since February, will return to his role as non-executive chairman of the board. Brown joins Expand Energy following a successful tenure as president, CEO and member of the board of directors of Chord Energy (CHRD).
Chord Energy Appoints Michael Lou as CEO
Chord Energy announced that Michael Lou has been appointed President & CEO, effective October 19. Additionally, Lou has been appointed and elected to the Chord Energy Board of Directors. Lou succeeds Danny Brown, who is stepping down immediately as President and CEO and from the Chord Energy Board of Directors to pursue another professional opportunity. Lou has more than 25 years of experience in the oil and gas industry, including 17 years in various positions of leadership at Chord and its predecessor companies. In his roles as Chief Strategy Officer and Chief Commercial Officer as well as CFO, Lou has been instrumental in shaping and driving the company's strategic and financial outcomes, including growing the organization to the largest operator in the Williston Basin while maintaining a pristine balance sheet.
Chord Energy Q3 Oil and Gas Volumes Exceed Guidance, $205M Share Buyback
Chord Energy provided an update on operational and financial performance in Q3. Sees Q3 Oil volumes 165.4MBopd-165.6MBopd vs. previous guidance of 161.5MBopd-164.5MBopd. Highlights include: Volumes exceeded the high-end of guidance across oil, natural gas and NGLs, and CapEx was in line with guidance; Shareholder Returns: $205M of share repurchases at an average price of $135.74/share during Q3 and another $44.3MM QTD in Q4 at an average price of $142.32/share; Announced divestiture of non-operated Marcellus assets for total gross consideration of $550MM, including $55MM deposit paid during 3Q26; and Cash and cash equivalents of $804.7MM and total debt of $1,482.2MM on 9/30/26. Preliminary Q3 CapEx includes approximately $4.5M of reimbursable non-op CapEx. Additionally, Marcellus-related preliminary CapEx exceeded expectations by approximately $6M during Q3. These two items together would adjust Preliminary Q3 CapEx downward by approximately $10.5MM. NYMEX WTI averaged $85.69/Bbl and NYMEX Henry Hub averaged $2.96/MMBtu during 3Q26. Lastly, during Q3, Chord had a loss on realized hedges of $48.7MM and received distributions from its investment in equities securities of $2.3MM-$2.5MM.
Chord Energy Sells Non-Operated Marcellus Assets to POSCO International for $550M
Chord Energy announced that one of its subsidiaries has entered into an agreement to sell its entire non-operated Marcellus position to POSCO International Corporation for total gross consideration of $550M. The transaction is expected to close in the Q4 subject to customary closing conditions. Transaction Highlights include: Divesting non-operated Marcellus position consisting of approximately 32k net acres and trailing 12-month, or TTM, production of approximately 121 MMcfpd. Volumes consist of 100% residue gas with no NGLs; Transaction is highly accretive across key metrics: Transaction value represents approximately 6x Adjusted EBITDA based on gross proceeds of $550M and $3.50/MMBtu Henry Hub; Chord received a $55M deposit with the remaining consideration payable at closing. Effective date for the transaction is July 1; Chord's net leverage is expected to decline further as a result of the divestiture, and remain well below peer levels; Proceeds will be deployed over time in a manner consistent with the Company's disciplined capital allocation framework. Following the transaction, Chord's portfolio will be focused exclusively in the Williston Basin, where the Company expects to continue driving significant value creation through its size, scale and robust inventory life. Chord expects to update guidance in conjunction with its Q3 earnings release in November. On a pro forma basis, Chord expects the following impacts to its post-divestiture key metrics: Oil weighting would increase by approximately 4 to 5 percentage points; given stronger gas realizations in the Marcellus, gas realizations would decrease by approximately 16 to 30 percentage points; due to higher oil weighting in the Williston Basin, LOE would increase by approximately 70c-80c per Boe; cash GPT3 would decrease by 20c-25c per Boe; production taxes would increase by 0.15%-45% of oil, NGL, and natural gas sales; and CapEx would decrease by approximately $25M annually. Moelis & Company and RBC Capital Markets acted as strategic and financial advisors to Chord Energy, and Orrick, Herrington & Sutcliffe acted as legal advisor. Bank of America acted as strategic and financial advisor to Chord's counterparty, POSCO International Corporation, and DLA Piper acted as legal advisor.
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