As a proud oil and gas operator, Chord Energy plays a vital role in delivering the innovations, products, and conveniences that enhance our collective quality of life. By the same token, we are committed to producing oil and gas with the least possible impact to the environment. As populations expand and energy demand grows, our long-term strategy is to meet these needs affordably, reliably, and responsibly.

Chord Energy delivers abundant energy responsibly, affordably, and reliably, as oil and gas continues to be an essential part of a diversified energy solution for ever-growing global demand.

Operations:

A premier operator in the Williston Basin.

Chord Energy is an independent energy company that acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. We are focused primarily on organic drilling activity, both on grassroots oil plays and on the development of previously acquired properties—specifically on projects that provide the opportunity for repeatable success and strong returns. Crude in the Williston Basin is primarily produced by drilling horizontally into known hydrocarbon-bearing formations and then hydraulically stimulating the reservoir rock.

The Williston Basin

Chord Energy is a premier Williston Basin operator with enhanced scale and deep, low-cost inventory. We are well positioned to optimize development and operations in the Williston Basin and drive value creation through combining best practices gained through decades of experience. Our production base has a high oil cut and crude is sold to a diverse network of demand centers. Strong execution, high-quality resource, and innovation drive robust Williston Basin economics.

Our enhanced scale combined with high-quality assets, low breakeven pricing, and experienced leadership make us a premier operator in the region.

Rooted in our core values, we maintain sustainable energy practices that exemplify our commitment to energy security and availability. Our sustainability highlights demonstrate an ongoing commitment to creating a resilient and prosperous world.

Environmental

Delivering Reliable Energy with Responsible Practices

Chord Energy is dedicated to minimizing adverse environmental impact. We aim to reduce methane and Scope 1 emissions, eliminate routine flaring, strive for judicious freshwater use, deliver effective waste management, and execute robust spill prevention programs.

Methane Management

Chord Energy monitors and reports operated Scope 1 GHG and methane emissions per the EPA’s Mandatory Greenhouse Gas Reporting Rule (40 CFR Part 98). GHG emissions data can be found in the Appendix of this report. Data is presented in absolute terms, on a carbon dioxide equivalent basis (CO₂e), and in terms of intensity levels relative to Chord’s operated production.

Pneumatic Replacement or Retrofit Project

• Chord replaced or retrofitted nearly 7,000 pneumatic devices, which will eliminate more than 230,000 Metric Tons of Carbon Dioxide Equivalent (MTCO₂e) of methane emissions annually, equivalent to 50,000 passenger vehicles.
• The completion of all 7,000 retrofits by year end 2023 resulted in a 67% improvement in methane intensity by Dec 2023 compared to 2022.

Improved Gas Capture

• We achieved 17% reduction in flaring intensity compared to 2022 through staggered development planning to help avoid gathering system constraints.
• Implemented continuous improvements in operational and equipment performance, and better flare reliability and combustion efficiency.

Social

Energizing Communities, People, and Our Industry

Chord Energy fuels global energy needs while driving economic growth and community enrichment. We prioritize people, emphasizing health, safety, and empowerment for our workforce and communities. Our innovative culture promotes shared value through care, unity, and ownership, making Chord Energy a rewarding workplace and a leading corporate partner in our operating areas.

Prioritizing Health and Safety

Given our strong commitment to health and safety, we’ve established robust oversight for our initiatives. The Board and its Safety and Sustainability Committee receive quarterly updates on health and safety performance, including reviews of significant incidents and regulatory compliance.

Driving Progress Through a Culture of Continuous Improvement

In 2023, we launched our ‘Women of Chord’ network, an employee resource group committed to building a supportive community that facilitates personal and career growth, champions diversity and inclusion, and inspires future generations. By promoting knowledge-sharing and advocacy, this group strives to create a more inclusive industry.

Partnering with Our Communities

Chord Energy strives to make a positive impact in the communities where we operate. We invest resources to support local nonprofits, facilitate employee volunteer opportunities, and engage with community stakeholders to address concerns effectively. Our approach emphasizes proactive collaboration with local leaders, first responders, and tribal nations, with relationships built on mutual respect and trust.

Governance

Leading with Integrity

Through our corporate governance principles and ESG strategy, we seek to prioritize accountability, shareholder interests, and trust through transparent and authentic reporting.

Board Oversight

The Board oversees the development of the Company’s strategy, which articulates business objectives and provides direction to senior management. At the start of each year, senior management presents the annual business plan to the Board, followed by periodic reviews throughout the year.

During 2023, the Company’s Board and committee meetings were as follows:

• The Board: 15 Meetings
• Compensation Committee: 10 Meetings
• Safety and Sustainability Committee: 4 Meetings
• Audit and Reserves Committee: 5 Meetings
• Nominating and Governance Committee: 5 Meetings

Stakeholder Outreach

In 2023, we invited shareholders representing:

• Over 50% of shares outstanding to meet with us regarding compensation and ESG matters and other topics of interest to shareholders.
• Over 25% of shares outstanding participated in discussions with the Company’s executive management and provided valuable feedback.