Chord Energy Corporation: Longer Lateral Drilling Efficiency Driving Our Optimism! 

Chord Energy reported strong third-quarter 2024 results, demonstrating resilience and operational efficiency amidst challenging conditions, including wildfires in North Dakota. The company produced oil volumes at the higher end of its guidance, driven by robust execution, superior well performance, and minimized downtime. Capital expenditures were lower than anticipated due to operational efficiencies and timing adjustments. Chord generated approximately $312 million in adjusted free cash flow and plans to return 75% to shareholders, with a focus on share buybacks. The base dividend remained at $1.25 per share, and a variable dividend of $0.19 per share was declared. Chord repurchased 1.5% of outstanding shares, indicating a strong commitment to shareholder returns.