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.
Letter from the CEO and Safety and Sustainability Committee Chair
Dear Stakeholders,
2024 was a year of significant progress for Chord Energy. Through disciplined execution and a focus on our core values, we further strengthened our position as a leading operator in the Williston Basin. The successful integration of Enerplus Corporation has created a stronger, more resilient enterprise with enhanced scale, a best-in-class balance sheet, and deep, high-quality inventory. These advantages position us to deliver competitive shareholder returns, while operating responsibly and contributing to the well-being of the communities where we live and work.
Our operational performance in 2024 reflected both innovation and discipline. We captured synergies ahead of schedule, implemented technical enhancements — including wider well spacing, longer laterals, and the drilling of our first four‑mile well — and unveiled our first multi‑year outlook. This plan anticipates stable production volumes through 2027 at lower capital levels, underscoring our ability to sustain performance through commodity cycles. Our focus is clear: drive operational excellence, leverage technology, and maintain capital efficiency to maximize long-term value.
At the same time, we recognize that energy production carries an obligation to operate safely, minimize adverse environmental impact, and maintain transparency with our stakeholders. Since 2022, we have reduced our operated Scope 1 greenhouse gas emissions intensity by 24% and methane emissions intensity by 59%. These reductions have been supported by our voluntary commitment to the World Bank’s Zero Routine Flaring initiative and by replacing or retrofitting thousands of pneumatic devices.
Our commitment to sustainability is grounded in a clear understanding of the essential role oil and natural gas play in human progress. Reliable access to affordable energy has long been tied to improvements in quality of life — from longer life expectancy to expanded economic opportunity. Meeting the world’s growing energy needs requires an “all sources” approach in which hydrocarbons remain critical. Oil and gas fuel transportation and power generation, serve as feedstocks for pharmaceuticals and electronics, and are the backbone of countless products and services essential to modern living. When combined with logical regulatory standards, oil and gas can deliver broad economic, environmental, and societal benefits.
The U.S. shale revolution illustrates this positive impact — enhancing energy security, reducing price volatility, delivering billions in consumer savings, and helping to drive significant emissions reductions compared to other major economies. Chord Energy is proud to contribute to this success by providing affordable, reliable energy while working continuously to lower our environmental footprint.
Following a period of significant growth and operational advancement, we remain focused on ensuring our sustainability priorities evolve alongside our business and stakeholder expectations. To that end, in 2025 we refreshed our materiality assessment — engaging a broad range of internal and external perspectives to validate where our efforts have the most impact. The process confirmed strong alignment with our strategic priorities. Oversight and guidance on these priorities are provided by the Board through its committees. The Safety & Sustainability Committee works closely with management to monitor sustainability performance, while the Compensation and Human Resources Committee integrates quantitative safety and environmental measures into our incentive framework — reinforcing the connection between sustainable operations and long‑term shareholder value.
Looking ahead, we remain committed to building on our track record of operational excellence, prudent capital allocation, and sustainability progress. We will continue to invest in the capabilities, technologies, and workforce talent that make these achievements possible, never losing sight of our responsibility to operate safely, responsibly, and transparently.
Sincerely,
Daniel E. Brown
President, Chief Executive Officer and Member of the Board of Directors
Samantha (Holroyd) McKinney
Chair, Safety and Sustainability Committee of the Board of Directors
Things we are working on in 2025
2024 Highlights
Governance
Operating with Integrity
Board Oversight
The breadth and strength of the directors’ professional and leadership experience allows for open and robust dialogue and decision-making ability. The Board has four standing committees:
- Audit and Reserves Committee
- Compensation and Human Resources Committee
- Nominating and Governance Committee
- Safety and Sustainability Committee.
Annually, the Board conducts an offsite strategy meeting to address goals, timelines, and execution plans. Regular updates are provided to the entire Board through quarterly committee reports, and from time to time, managers and outside advisors may provide additional updates.
More information on Chord’s Board structure, Board role and responsibilities, and Board composition can be found in our proxy statement for our 2025 Annual Meeting of Shareholders (“2025 Proxy Statement”).
“The Committee’s responsibility is to guide, monitor, and support management in advancing safety and sustainability, helping to drive meaningful outcomes for our employees, communities, and stakeholders”
Samantha (Holroyd) McKinney
Safety And Sustainability Committee Chair
Environmental
Meeting Energy Demands and Environmental Goals
Emissions Management
Chord Energy tracks and reports operated Scope 1 GHG and methane emissions in accordance with the EPA’s Mandatory Greenhouse Gas Reporting Rule (40 CFR Part 98), with data presented in both absolute (CO₂e) and intensity terms. To further strengthen transparency and comparability of our reported emissions, we engaged an independent assurance provider to provide limited assurance over our 2024 Scope 1 and Scope 2 GHG emissions data.
Emissions Abatement Project
Reducing methane emissions remains a top priority. To help maintain the trend of continuous improvement a cross-functional emissions reduction team has developed a more robust process to identify and prioritize emissions reduction opportunities, through the creation of a Marginal Abatement Cost Curve (MACC).
Emissions reduction projects analyzed by the team includes:
- Pneumatic device retrofits or replacements
- Expanded Vapor Recovery Unit (VRU) installations to eliminate flaring
- Electrification to reduce combustion needs during drilling and completions, as well as on facilities to broadly electrify operations
- Dual pipeline connections at new sites to two gas gatherers to avoid flaring impacts
- Review and analysis of alternative on-site gas use via Natural Gas Liquids (NGL) or Compressed Natural Gas (CNG) technologies
Social
Investing in Our People, Supporting Our Communities
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.
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
Operating with Integrity
Board Oversight
The breadth and strength of the directors’ professional and leadership experience allows for open and robust dialogue and decision-making ability. The Board has four standing committees:
- Audit and Reserves Committee
- Compensation and Human Resources Committee
- Nominating and Governance Committee
- Safety and Sustainability Committee.
Annually, the Board conducts an offsite strategy meeting to address goals, timelines, and execution plans. Regular updates are provided to the entire Board through quarterly committee reports, and from time to time, managers and outside advisors may provide additional updates.
More information on Chord’s Board structure, Board role and responsibilities, and Board composition can be found in our proxy statement for our 2025 Annual Meeting of Shareholders (“2025 Proxy Statement”).
“The Committee’s responsibility is to guide, monitor, and support management in advancing safety and sustainability, helping to drive meaningful outcomes for our employees, communities, and stakeholders”
Samantha (Holroyd) McKinney
Safety And Sustainability Committee Chair
Environmental
Meeting Energy Demands and Environmental Goals
Emissions Management
Chord Energy tracks and reports operated Scope 1 GHG and methane emissions in accordance with the EPA’s Mandatory Greenhouse Gas Reporting Rule (40 CFR Part 98), with data presented in both absolute (CO₂e) and intensity terms. To further strengthen transparency and comparability of our reported emissions, we engaged an independent assurance provider to provide limited assurance over our 2024 Scope 1 and Scope 2 GHG emissions data.
Emissions Abatement Project
Reducing methane emissions remains a top priority. To help maintain the trend of continuous improvement a cross-functional emissions reduction team has developed a more robust process to identify and prioritize emissions reduction opportunities, through the creation of a Marginal Abatement Cost Curve (MACC).
Emissions reduction projects analyzed by the team includes:
- Pneumatic device retrofits or replacements
- Expanded Vapor Recovery Unit (VRU) installations to eliminate flaring
- Electrification to reduce combustion needs during drilling and completions, as well as on facilities to broadly electrify operations
- Dual pipeline connections at new sites to two gas gatherers to avoid flaring impacts
- Review and analysis of alternative on-site gas use via Natural Gas Liquids (NGL) or Compressed Natural Gas (CNG) technologies
Social
Investing in Our People, Supporting Our Communities
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.
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.
Waves of Hope: Chord Energy’s Campaign to Support Mental Health
Chord launched the Waves of Hope campaign to fight the stigma associated with mental health conditions, and provide education and resources for those struggling with mental health. We are proud of this important campaign, which encourages individuals to take care of their mental health just as they care for their physical health.
