Chord Energy Corporation reported its second-quarter 2025 financial and operating results on August 6, 2025. The company delivered oil volumes of 156.7 MBopd, exceeding its guidance range, and total production of 281.9 MBoepd. Adjusted Free Cash Flow for the quarter was $140.8 million, which was above expectations.
Despite strong operational execution, Chord Energy recognized a non-cash goodwill impairment charge of $539.3 million at June 30, 2025. This impairment reduced the carrying value of its goodwill to zero, primarily due to a decline in the company's market capitalization influenced by lower crude oil and natural gas prices during the quarter. Net income for the quarter was a loss of $404.9 million, or $(6.77) per diluted share, impacted by this charge.
The company's Board of Directors authorized a new share repurchase program totaling $1 billion, replacing the existing program. Chord repurchased 605,621 shares for $55.0 million in Q2 2025, representing 100% of shareholder returns after the base dividend. Chord also updated its FY25 guidance, increasing the midpoint of oil production to 151.8-154.1 MBopd and reducing E&P capital expenditures to $1,320-$1,380 million, reflecting continued operational efficiencies.
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