Chord Energy says its long-term maintenance-plus strategy focuses on maximizing free cash flow by optimizing existing production through workovers, AI, chemical treatments, and operational efficiencies while maintaining disciplined capital spending. Supporting this strategy, the company has filed 109 new well permits in 2026, primarily across the core Bakken counties of Williams, McKenzie, Mountrail, and Dunn, providing a strong inventory for future development alongside continued production optimization.

In 2025, Chord drilled 147 wells, a level of activity that reflects a maintenance-style program rather than an aggressive expansion. This approach aligns with management’s view that, in a market still shaped by OPEC spare capacity and macro uncertainty, preserving inventory value and balance sheet strength matters more than chasing volumes.

For years, the Bakken has been labeled “mature.” But Chord Energy’s latest commentary — backed by hard drilling data — tells a very different story. Far from winding down, the Bakken is evolving into a capital-efficient, free-cash-flow machine, driven by longer laterals, operational scale, and disciplined consolidation.

Chord’s Q3 2025 earnings call made one thing clear: the Bakken remains the core of the company’s strategy, and the next phase of development looks structurally stronger than earlier cycles.

Chord Energy is bolstering its Williston Basin position with a high-quality, long-lateral development opportunity from Exxon’s XTO unit. The deal is designed to be highly accretive, extend inventory, improve portfolio economics, and maintain one of the strongest balance sheets in the peer group.

Chord Energy (NASDAQ: CHRD) has posted a strong second quarter for 2025, highlighting robust production, capital efficiency, and a sharp focus on shareholder returns. The company’s Williston Basin assets continue to perform exceptionally, bolstered by a strategic drilling program that has already delivered 85 wells year-to-date (YTD).

Chord Energy operates a premier acreage position in the Williston Basin, spanning the core areas of McKenzie, Dunn, Mountrail, and Williams counties. Their leasehold is characterized by high-quality rock, operational scale, and infrastructure advantage.

Chord Energy (NASDAQ: CHRD) continues to establish itself as a premier operator in the Bakken, leveraging capital efficiency, operational excellence, and long-lateral drilling strategies to drive strong free cash flow and shareholder returns. In their Q4 2024 Earnings Presentation, Chord emphasized their commitment to disciplined growth, efficiency improvements, and maintaining high-quality production in the Williston Basin.

Corporation (NASDAQ: CHRD) (“Chord”, “Chord Energy”) and Enerplus Corporation (TSX: ERF) (NYSE: ERF) (“Enerplus”) today announced they have entered into a definitive arrangement agreement under which Chord will combine with Enerplus in an approximately $11 billion stock and cash transaction.