Chord Energy
30 named things its latest annual report says its results depend on, each in the company's own words. 23 of them are also named by other companies we've read.
Customers
Significant customers (crude oil, NGL and natural gas purchasers)
earns fromnamed as a riskWe are subject to credit risk due to the concentration of our crude oil, NGL and natural gas receivables with several significant customers.Risk factors (Item 1A)
Suppliers
Netherland, Sewell & Associates, Inc. (NSAI)
depends on · 100% of our reservesWe employ NSAI as the independent preparer for 100% of our reserves.Business (Item 1)
Midstream service providers
depends onnamed as a riskOur delivery of crude oil, NGL and natural gas depends upon the availability, proximity and capacity of pipelines, other transportation facilities and gathering and processing facilities primarily owned by a limited number of midstream service providers.Risk factors (Item 1A)
Partners and platforms
Dakota Access Pipeline (DAPL)
depends onnamed as a riskOur risk is not concentrated at DAPL as we have alternative outlets to sell our crude oil production using multiple modes of transportation; however, in the event DAPL were to cease operating, we would anticipate Williston Basin crude oil prices to weaken materially before improving as the market adapts to rail transportation.Risk factors (Item 1A)
Other companies
Derivative counterparties (Credit Facility lenders)
15 counterparties and a total net commodity derivative asset of $85.7 millionnamed as a riskAt December 31, 2025, we had commodity derivatives in place with 15 counterparties and a total net commodity derivative asset of $85.7 million.Risk factors (Item 1A)
Delivery commitments (minimum volume)
approximately 40.6 MMBbl of crude oil, 10.6 MMBbl of NGL, 335.6 Bcf of natural gas and 12.0 MMBbl of waternamed as a riskAs of December 31, 2025, we had certain agreements with an aggregate requirement to deliver, transport or purchase a minimum quantity of approximately 40.6 MMBbl of crude oil, 10.6 MMBbl of NGL, 335.6 Bcf of natural gas and 12.0 MMBbl of water within specified timeframes.Business (Item 1)
OPEC+
exposed to its pricenamed as a riskActions or inaction of OPEC+ members have a significant impact on global oil supply and pricing.Risk factors (Item 1A)
Also named by APA, CPAY, CRC, CRGY, DMLP, KMI, KRP, MUR and 9 more
Enerplus Corporation
On May 31, 2024, we acquired Enerplus Corporation, a corporation existing under the laws of the Province of Alberta, Canada (“Enerplus”) in a stock-and-cash transaction (such transaction, the “Arrangement”).Business (Item 1)
Places
Williston Basin
concentrated in · 1,302,921 net leasehold acresnamed as a riskOur producing properties are geographically concentrated in the Williston Basin in northwestern North Dakota and northeastern Montana.Risk factors (Item 1A)
Montana
operates innamed as a riskFor example, both North Dakota and Montana require operators to disclose chemical ingredients and water volumes used in hydraulic fracturing activities, subject to certain trade-secret exceptions.Business (Item 1)
North Dakota
operates innamed as a riskWe own and operate properties in North Dakota and Montana, which have regulations governing conservation matters, including provisions for the unitization or pooling of oil and gas properties, the establishment of maximum allowable rates of production from crude oil and natural gas wells, the regulation of well spacing, and plugging and abandonment of wells.Business (Item 1)
Fort Berthold Indian Reservation (MHA Nation)
operates innamed as a riskOne or more of these factors may increase our costs of doing business on the Fort Berthold Indian Reservation and may have an adverse impact on our ability to effectively transport products within the Fort Berthold Indian Reservation or to conduct our operations on such lands.Risk factors (Item 1A)
Also named by TRGP
U.S. Gulf Coast refining capacity
earns fromnamed as a riskAdditionally, the refining capacity in the U.S. Gulf Coast is insufficient to refine all of the light sweet crude oil being produced in the United States.Risk factors (Item 1A)
Hazards
Commodities and inputs
Natural gas
exposed to its price · $13.5 millionnamed as a riskThe fair value of our unrealized natural gas derivative positions at December 31, 2025 was a net asset of $13.5 million.Market risk (Item 7A)
Also named by AA, ADM, AEE, AEP, AES, AESI, AGX, ALB and 132 more
Natural gas liquids (NGL)
exposed to its price · 174.1 MMBblsnamed as a riskSubstantially all of our crude oil and natural gas production is sold to purchasers under short-term (less than 12-month) contracts at market-based prices, and our NGL production is sold to purchasers under long-term (more than 12-month) contracts at market-based prices.Risk factors (Item 1A)
Also named by AM, APA, AR, CNX, CRGY, DOW, DVN, EOG and 17 more
WTI crude oil
exposed to its price · 56% were crude oilnamed as a riskThe prices we receive for our crude oil and, to a lesser extent, NGL and natural gas, heavily influence our revenue, profitability, cash flow from operations, access to capital and future rate of growth.Risk factors (Item 1A)
Also named by AR, CRGY, EPD, EQT, FANG, KRP, OXY, PAA and 4 more
Regulators
Bureau of Land Management (BLM)
subject to · Approximately 6% of our net acreage positionnamed as a riskApproximately 6% of our net acreage position in the Williston Basin is federal mineral acreage, which is spread across our acreage position, and any portion of a well on federal land requires a permit.Business (Item 1)
Also named by AESI, BTU, CRC, CRGY, DC, DMLP, DVN, EOG and 7 more
North Dakota Industrial Commission (NDIC)
subject to · 91%named as a riskAs of November 1, 2020, the enforceable gas capture percentage goal is 91%.Business (Item 1)
Federal Energy Regulatory Commission (FERC)
subject tonamed as a riskFERC regulates interstate natural gas pipeline transportation rates, and terms and conditions of service, which affects the marketing of natural gas that we produce, as well as the revenues we receive for sales of our natural gas.Business (Item 1)
Also named by AA, AEE, AEP, AM, AMRC, AR, ARES, ATO and 62 more
Pipeline and Hazardous Materials Safety Administration (PHMSA)
subject tonamed as a riskThe transportation of Bakken crude oil is subject to extensive federal regulation by the U.S. Pipeline and Hazardous Materials Safety Administration (“PHMSA”).Business (Item 1)
Also named by AM, ATO, BKH, CNX, CP, CRC, CRGY, CSX and 29 more
U.S. Army Corps of Engineers
subject tonamed as a riskThree of the five alternative actions considered would require the abandonment, removal or reroute of the segment of DAPL at issue.Risk factors (Item 1A)
U.S. Department of the Interior
subject tonamed as a riskThe Department of the Interior previously issued an official opinion stating that the minerals beneath the Missouri River riverbed located on the Fort Berthold Indian Reservation belong to the MHA Nation and not the State of North Dakota, overturning a 2020 Trump-agency decision that gave the State of North Dakota ownership.Risk factors (Item 1A)
Laws and programs
Endangered Species Act
subject tonamed as a riskSome of our operations are located in areas that are designated as habitat for endangered or threatened species, and our development plans have been impacted on occasion by certain endangered or threatened species, including the Dakota Skipper and the Golden Eagle.Business (Item 1)
Also named by CNX, CRGY, CTVA, DC, FANG, KGS, LB, NEE and 4 more
Internal Revenue Code Section 382
subject tonamed as a riskAccordingly, our ability to utilize our NOLs and other Tax Benefits (including Whiting’s NOLs and other Tax Benefits) is subject to a limitation under Section 382.Risk factors (Item 1A)
EPA methane rules (Subpart OOOO)
subject tonamed as a riskThe Company is currently taking steps to comply with requirements that became effective during 2024 and those that phase in over time.Business (Item 1)
Safe Drinking Water Act Underground Injection Control program
subject tonamed as a riskThese injection wells are regulated pursuant to the federal Safe Drinking Water Act (the “SDWA”) Underground Injection Control (the “UIC”) program and analogous state laws.Business (Item 1)