Chord Energy Sees FY24 E&P And Other CapEx Between $905M–$945M
Portfolio Pulse from Benzinga Newsdesk
Chord Energy projects its FY24 E&P and other CapEx to be between $905M and $945M, with about 80% allocated to drilling and completions. The company plans to operate 103 to 113 gross wells, maintain oil volumes at 97 to 101 MBopd, and expects an adjusted free cash flow of approximately $875M, assuming $79/Bbl WTI and $2.50/MMBtu Henry Hub prices.
February 21, 2024 | 10:30 pm
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Chord Energy anticipates FY24 E&P and other CapEx between $905M-$945M, with significant investment in drilling and completions. It aims to keep oil production stable and projects an $875M adjusted free cash flow based on current oil and gas prices.
The detailed financial projections and CapEx plans indicate a strong focus on maintaining production efficiency and financial health. The significant allocation towards drilling and completions suggests a strategic investment in growth and operational efficiency. The expected free cash flow, based on moderate oil and gas price assumptions, reflects a positive outlook on profitability and financial stability. This comprehensive plan is likely to be viewed positively by investors, potentially leading to a short-term uptick in CHRD's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100