Bragging Rights In The Bakken -- Biggest Producer? Most Acreage? Best Acreage? September 21, 2022

Chord Energy: For the record, I can now say the twins have their first share of Chord Energy. 

Bought it for their "Disney" account this morning. LOL. I have to thank a reader who reminded me about Chord Energy this morning.

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Chord Energy: Motley Fool today.

The combination of Whiting and Oasis created a larger-scale oil producer focused on the Williston Basin of North Dakota. The company has a top-tier position, with 972,000 net acres in the region and a combined production base of 171,100 barrels of oil equivalent per day. That increased scale positions Chord Energy to produce significant and sustainable free cash flow. 

Chord Energy initially expected to return 60% of its free cash flow to shareholders in the second half of this year through a combination of its base dividend, variable dividends, and share repurchases. That strategy would align it with a growing number of U.S. oil producers in terms of setting capital return targets. 

Devon Energy initially developed this blueprint with the industry's first fixed-plus-variable dividend program. The oil company set its base dividend at a sustainable level, but set a target of paying out up to 50% of its quarterly free cash flow in variable dividends. Devon uses the remaining 50% of its excess cash to strengthen its already rock-solid balance sheet, repurchase shares, and make acquisitions. Several other oil companies have set their own targets for returning a percentage of free cash flow to investors. 

Chord Energy: bragging rights in the Bakken? I think so.

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CLR

I track CLR here. From that page:

May 5, 2022: 1Q22 --

• additional acreage added in past 18 months: 600,000 net acres
  
• production:
• 195,000 bopd
• 1,074 MMcfpd
  
• plays:
• Bakken: 825,000 acres; 6 rigs; #1 producer;
  
• Powder River: 390,000 acres; 2 rigs; #2 leaseholder;
  
• Anadarko: 450,000 acres; 8 rigs; #1 producer;
  
• Permian: 170,000 acres; 4 rigs; #10 leaseholder;
  

February 14, 2022: 4Q and full year production, link here.

• Bakken, CY2021: 169,636 bopd
• Bakken, 4Q21: 183,141

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Chord Energy

Chord Energy is tracked here.

From the linked Motley Fool article today:

• 972,000 net acres in the region; and,
• a combined production base of 171,100 barrels of oil equivalent per day. 

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Head-to-Head

In addition, Bakken acreage:

• CLR: good
• Whiting: better
• Oasis: best

In addition, wells:

• Whiting: good
• CLR: better
• Oasis: best

Companies

CLR:

• market cap: $25 billion
• p/e: 8.7
• yield: 1.6%

Chord Energy:

• market cap: $5.8 billion
• p/e: 3
• yield: 3.6%