Short answer
Chord Energy Corp (CHRD) filed its fiscal 2016 10-K annual report with the SEC on Feb 23, 2017. It reported revenue of $705M and net income of −$243M.
- Top risk flagged: EPA RCRA Subtitle D consent decree: potential oil-and-gas waste rulemaking by March 15, 2019
FY2016 key financial metrics · XBRL
- Revenue
- $705M
- Net income
- −$243M
- Operating margin
- -18.6%
- EPS (diluted)
- −$1.32
- ROE
- -8.3%
- Operating cash flow
- $228M
Source: XBRL data from the Chord Energy Corp (CHRD) FY2016 10-K on SEC EDGAR. USD.
Chord Energy Corp FY2016 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Independent Williston Basin E&P focused on Bakken and Three Forks oil, complemented by vertically integrated midstream and well services
- 2016 acquisitions added approximately 55,000 net acres and drove emphasis on larger high-intensity completion designs
- Strategic pivot to capital efficiency: full-field core development, lower service costs and flexible drilling pace amid $43.40 average WTI
- Proved reserves rose 40% to 305.1 MMBoe, while PV-10 increased 30% to $2,627.8 million
- Notable infrastructure milestone: 98% of operated Bakken and Three Forks wells connected to gathering systems and 87% of North Dakota gas captured
Management Discussion & Analysis
- Total revenue $704.7M, down $85.1M, or 11%, driven by oil revenue falling to $596.6M from $692.5M
- Net loss $243.0M vs $40.2M; operating loss $130.8M vs $114.2M, with no operating margin disclosed
- Best segment Midstream Services: Adjusted EBITDA $79.9M vs $66.3M; worst Well Services: $19.9M vs $70.5M
- Operating cash flow $228.0M; capital expenditures $1,181.5M, including $781.5M acquisitions; debt repurchases $447.0M
- 2017 capital budget $605.0M; risks include commodity prices, transportation capacity, service costs and potential impairment exceeding $2.5B
Risk Factors
- EPA RCRA Subtitle D consent decree: potential oil-and-gas waste rulemaking by March 15, 2019
- Williston Basin concentration: 100% of proved reserves and production in northwestern North Dakota and northeastern Montana
- Third-party takeaway exposure: no firm pipeline transportation, with 2016 differentials averaging $4.76 per barrel below WTI
- Bakken rail risk: PHMSA tank-car phase-out requirements potentially constraining transportation capacity through 2029
- Leverage burden: $363.0 million revolver borrowings and $2,053.0 million Notes outstanding at December 31, 2016
Generated from the filing text; verify against the original. How to read a 10-K
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