The company said, “Chord’s FY24 guidance remains largely unchanged relative to the outlook released in February, while Q2 guidance reflects the impacts of acceleration driven by cycle-time improvement. FY24 guidance was updated to reflect lower natural gas volumes and price realizations were adjusted to reflect current market conditions. On a standalone basis in 2024, Chord continues to expect to TIL 103 – 113 gross operated wells. Additionally, Chord expects to generate approximately $1.9B of Adjusted EBITDA and $870M of Adjusted Free Cash Flow with a reinvestment rate of approximately 50%. Chord remains focused on generating strong returns and sustainable free cash flow for shareholders.”
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