- Chord Energy press release ( NASDAQ: CHRD ): Q4 Non-GAAP EPS of $5.28 misses by $0.76 .
- Revenue of $1.02B (+95.6% Y/Y) beats by $206.84M .
- Severe winter weather impacted production and deferred development activity, resulting in oil volumes and capital below guidance;
- Produced 171.3 MBoepd in 4Q22, with oil volumes of 95.8 MBopd;
- E&P and other CapEx was $164.1MM in 4Q22;
- Net cash provided by operating activities was $478.4MM and net income was $377.6MM in 4Q22;
- Adjusted EBITDA (1) was $475.6MM and Adjusted Free Cash Flow (1) was $304.4MM in 4Q22;
- Cash of $593.2MM exceeded debt of $400.0MM at December 31, 2022; and
- Estimated net proved reserves were 655.6 MMBoe and PV-10 was $14.5 billion at December 31, 2022.
- 2023 Outlook: Investing capital of $825MM – $865MM with ~80% allocated to drilling and completions;
- Holding oil volumes flat to slightly growing year-over-year pro forma for merger; and
- Projecting Adjusted Free Cash Flow (1) over $825MM at $75/Bbl WTI and $3.50/MMBtu Henry Hub at the midpoint of guidance.
- Shares -0.31% .
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Chord Energy Non-GAAP EPS of $5.28 misses by $0.76, revenue of $1.02B beats by $206.84M