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# Chord Energy Lifts 2026 Free Cash Flow Outlook To $1.6 Billion, About $200 Million Above August
- URL: https://www.bullished.co/chord-energy-lifts-2026-free-cash-flow-outlook-to-1-6-billion-about-200-million-above-c72b8d69/
- Published: 2026-11-04T22:22:20.000Z
- Updated: 2026-11-04T22:22:20.000Z
- Description: The Williston Basin producer also raised its oil volume guidance about 1% and set $225 million in annual run-rate savings.
- Author: Matteo Parrino
- Tags: SEC Filings, CHRD, Industry: Energy

[Chord Energy](https://www.bullished.co/tag/chrd/), an independent oil and gas company focused on the Williston Basin, now expects about [$1.6 billion](https://www.sec.gov/Archives/edgar/data/0001486159/000148615926000046/chrd-q32026earningsrelease.htm?ref=bullished.co) of adjusted free cash flow in 2026, roughly $200 million more than it projected in August. The Wednesday earnings release also lifted full-year oil volume guidance about 1% to 162.5 thousand barrels a day, after third-quarter output beat the top of the range.

## Volumes above the top of guidance

Third-quarter oil volumes averaged 165.5 thousand barrels a day, above the 161.5 to 164.5 guidance range. Natural gas and NGL volumes also topped guidance. Full-year oil guidance rises from 161.0 thousand barrels a day, and the company expects about $3.4 billion of adjusted EBITDA for 2026.

Adjusted free cash flow for the quarter was $431.5 million, up from $218.6 million a year earlier and $413.4 million in the second quarter. Net income was $181.6 million, or $3.29 per diluted share, down from $525.2 million in the second quarter. Adjusted net income was $332.9 million, or $6.08 per share.

The company's net loss on derivative instruments was $246.0 million in the quarter, versus a $20.7 million gain a year earlier. Oil sold for $85.80 a barrel before derivatives, down from $93.99 in the second quarter.

## Cost savings and a bigger budget

Chord said annual run-rate savings are now $225 million, more than double the amount expected in its initial 2025 update. New third-party marketing agreements are expected to deliver $35 million to $55 million of annualized adjusted free cash flow savings over time.

The full-year capital spending midpoint rises to $1.46 billion from $1.4 billion. The full-year range includes about $20 million of added midstream spending versus August, chiefly water gathering and disposal projects. Fourth-quarter spending guidance, with a $330 million midpoint, reflects higher midstream spending and more operated and non-operated activity.

Chord has turned 47 four-mile wells in line, and 70% of its lateral footage was drilled as four-mile wells as of September 30.

## Buybacks, dividend and the Marcellus sale

Chord bought back $205 million of stock at an average $135.74 a share in the third quarter, and another $78 million at $146.84 through October 30\. It declared a $1.30 base dividend, payable December 7 to holders of record on November 19.

The company is selling its non-operated Marcellus assets for $550 million in gross consideration, including a $55 million deposit already received. Closing is expected in the fourth quarter. Cash stood at $804.7 million on September 30, with nothing drawn on its $2.0 billion revolver and $1.5 billion of senior notes outstanding.

CEO Michael Lou said the efficiency push leaves Chord "in a strong position to enhance economics and benefit from higher prices."

Management hosts its earnings call Thursday at 10:00 a.m. Central.

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### Sources

- [8-K Filing — Chord Energy Corp (CHRD)](https://www.sec.gov/Archives/edgar/data/0001486159/000148615926000046/oas-20261104.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit chrd-q32026earningsrelease.htm — Chord Energy Corp 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001486159/000148615926000046/chrd-q32026earningsrelease.htm?ref=bullished.co) — SEC EDGAR
- [Chord Energy (NASDAQ:CHRD) reports Q3 2026 earnings](https://finance.yahoo.com/markets/stocks/articles/chord-energy-nasdaq-chrd-reports-212937135.html?ref=bullished.co) — Yahoo Finance
- [Chord Energy (CHRD) Stock Fair Value Edges Higher After Marcellus Sale And Analyst Revisions](https://finance.yahoo.com/markets/stocks/articles/chord-energy-chrd-stock-fair-011750967.html?ref=bullished.co) — Yahoo Finance

### More on Chord Energy

- [Chord Energy Sets New CEO Michael Lou's Base Salary At $950,000](https://www.bullished.co/chord-energy-sets-new-ceo-michael-lous-base-salary-at-950-000-48f3c7fe/)

[All Chord Energy (CHRD) coverage →](https://www.bullished.co/tag/chrd/)