Chord Energy Shocks the Basin—How Four-Mile Laterals Are Delivering 100% More Recovery!

Chord Energy’s third quarter financial results reflect robust operating performance and strong shareholder returns, but also highlight some areas of caution for potential investors. Key positives from the quarter include free cash flow generation of $230 million, surpassing expectations, and the successful return of 69% of this free cash flow to shareholders. In addition, Chord Energy’s efforts in share repurchasing have significantly reduced diluted shares outstanding by approximately 11% since its merger with Enerplus. On the operational front, the company reported faster cycle times, reduced downtime, and strong well performance, leading to an increase in oil volume guidance for the second time this year. Furthermore, Chord Energy’s strategic initiatives have borne fruit, with the company successfully bringing online 3 new 4-mile wells under budget, contributing to their improving capital efficiency. This success has led Chord Energy to consider increasing the share of 4-mile wells in its 2026 program.