Short answer
Chord Energy Corp (CHRD) filed its fiscal 2017 10-K annual report with the SEC on Feb 28, 2018. It reported revenue of $1.3B (+83.6% year over year) and net income of $124M.
- Top risk flagged: Environmental compliance: EPA and Corps Clean Water Act jurisdiction rule litigation could increase wetland permitting costs and drilling delays
FY2017 key financial metrics · XBRL
- Revenue
- $1.3B
- +83.6% YoY
- Net income
- $124M
- +150.9% YoY
- Operating margin
- 11.1%
- +29.7 pp YoY
- EPS (diluted)
- $0.52
- +139.4% YoY
- ROE
- 3.7%
- +12.0 pp YoY
- Operating cash flow
- $508M
- +122.7% YoY
Source: XBRL data from the Chord Energy Corp (CHRD) FY2017 10-K on SEC EDGAR. USD.
Chord Energy Corp FY2017 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Independent E&P focused on unconventional oil and natural gas development in the Williston Basin, with midstream and well-services integration
- New Delaware Basin platform: $ acquisition of approximately 22,000 net acres, initial entry completed February 14, 2018
- Strategic expansion beyond Williston Basin, with 2018 plan targeting 100 to 110 Williston wells and six to eight Delaware wells
- Net proved reserves 312.2 MMBoe, up 2%, while higher decline rates caused 19.2 MMBoe of negative revisions
- Oasis Midstream Partners IPO completed September 25, 2017, adding a publicly traded midstream affiliate to the integrated model
Management Discussion & Analysis
- Production 24,143 MBoe, up from 18,436 MBoe; oil price $48.52/Bbl vs $38.64
- Capital expenditures $836.2M, down 29% from $1,181.5M; 2018 plan $1,090M-$1,170M
- Best segment E&P, 2017 production 24,143 MBoe; midstream and well services lacked segment revenue figures
- Liquidity $1,208.2M, including $16.7M cash and $1,191.5M unused borrowing capacity
- Outlook: 2018 completion of 100-110 Williston wells and six-eight Delaware wells; risks include commodity-price declines and regulatory costs
Risk Factors
- Environmental compliance: EPA and Corps Clean Water Act jurisdiction rule litigation could increase wetland permitting costs and drilling delays
- Geopolitical exposure: Williston Basin concentration, with 100% of proved reserves and production at December 31, 2017
- Transportation vulnerability: Reliance on third-party gathering and pipelines without generally purchasing firm capacity
- Market risk: WTI prices ranged from $60.46 to $42.48 per barrel during 2017
- Financial leverage: $2,053.0 million outstanding in Notes plus $70.0 million Oasis borrowings at December 31, 2017
Generated from the filing text; verify against the original. How to read a 10-K
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