Organization and Summary of Significant Accounting Policies	6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	Organization and Summary of Significant Accounting Policies Chord Energy Corporation, a Delaware corporation (together with its consolidated subsidiaries, the “Company” or “Chord”), is an independent exploration and production (“E&P”) company engaged in the acquisition, exploration, development and production of crude oil, NGL and natural gas primarily in the Williston Basin with limited non-operated interests in the Marcellus Shale. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have not been audited by the Company’s independent registered public accounting firm, except that the Condensed Consolidated Balance Sheet at December 31, 2025 is derived from audited financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary for the fair statement of the Company’s financial position, have been included. Management has made certain estimates and assumptions that affect reported amounts in the unaudited condensed consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The results for interim periods are not necessarily indicative of annual results. These interim financial statements have been prepared pursuant to the rules and regulations of the SEC regarding interim financial reporting. Certain disclosures have been condensed or omitted from these financial statements. Accordingly, they do not include all of the information and notes required by GAAP for complete consolidated financial statements and should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (“2025 Annual Report”). Risks and Uncertainties As a producer of crude oil, NGL and natural gas, the Company’s revenue, profitability and future growth are substantially dependent upon the prevailing and future prices for crude oil, NGL and natural gas, which are cyclical and dependent upon numerous factors beyond the Company’s control such as economic, geopolitical, political and regulatory developments and competition from other energy sources. Energy markets experienced significant volatility during the first half of 2026, driven primarily by the escalation of conflict in the Middle East beginning in late February and the resulting disruptions to global oil and natural gas supply following the effective closure of the Strait of Hormuz to most commercial shipping. Continued geopolitical tensions, including the uncertain pace and durability of any diplomatic resolution between the United States and Iran and periodic actual and potential escalations in hostilities, uncertainty around OPEC+ production policy, including the withdrawal of the United Arab Emirates from OPEC+ effective in May 2026 and the withdrawal’s potential to reduce the group’s ability to coordinate global supply, and the potential economic outcomes of tariff and trade policy decisions of the U.S. or other governments create difficulty in predicting future impacts to commodity prices, which could affect the Company’s financial position, results of operations, cash flows, capital and operating costs, and the quantities of crude oil, NGL and natural gas reserves that may be economically produced. Out-of-Period Adjustment During the six months ended June 30, 2026, the Company recorded an out-of-period tax benefit in the amount of $41.8 million. See Note 12—Income Taxes. Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies and estimates from those disclosed in the 2025 Annual Report, except as described below. Equity Method Investments The Company accounts for investments in entities over which it has the ability to exercise significant influence, but not control, using the equity method of accounting in accordance with FASB ASC 323-10, Investments—Equity Method and Joint Ventures. Significant influence is generally evidenced by ownership of 20% or more of the investee's voting stock; however, significant influence may also be established through other means, including representation on the investee's board of directors, regardless of the level of ownership interest held. Under the equity method, the investment is initially recorded at cost and subsequently adjusted each period for additional investments, distributions and the Company's proportionate share of the investee's net earnings or losses, which is recognized in the Company's Condensed Consolidated Statement of Operations. The Company assesses equity method investments for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If the Company determines that a loss in the value of any of the investments is other-than-temporary, it writes down the investments to its estimated fair value. During the three months ended June 30, 2026, the Company acquired an 8.5% ownership interest in a private specialty chemicals company, which is reflected within other long-term assets on the Condensed Consolidated Balance Sheets. The Company has applied the equity method of accounting as it has established significant influence through its contractual right to designate a member of the investee’s board of directors. The Company's board designee is an employee of the Company; accordingly, the Company's investment in and commercial arrangements with the investee are considered related party transactions under FASB ASC 850-10, Related Party Disclosures. Recent Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”). This standard requires that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. This ASU is effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating this ASU to determine its impact on the Company’s financial statement disclosures. In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). This standard amends the guidance for measuring expected credit losses on accounts receivable and contract assets. The amendments are intended to clarify the application of the current expected credit loss model to short-term receivables and contract assets, and to provide additional guidance on the use of historical loss information and forecasts in estimating expected credit losses. ASU 2025-05 is effective for annual and interim reporting periods beginning after December 15, 2025, with early adoption permitted. The Company adopted this ASU effective January 1, 2026, and the adoption did not have a material impact on the Company’s condensed consolidated financial statements. In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities (“ASU 2025-10”). This standard establishes guidance for how a business entity accounts for government grants, distinguishing between grants related to assets and grants related to income. The standard also requires enhanced disclosures regarding the nature, terms, and amounts of government grants recognized in the financial statements. ASU 2025-10 is effective for annual and interim reporting periods beginning after December 15, 2026, with early adoption permitted. The Company early adopted ASU 2025-10 prospectively effective April 1, 2026, coinciding with its receipt of its first government grant of this nature. The Company elected the cost accumulation approach for grants related to the acquisition or construction of property, plant and equipment. Under this approach, monetary government grants that reimburse the Company for capital expenditures are recognized as a reduction of the cost basis of the related asset when the grant's recognition criteria are met. The resulting net cost basis is subsequently depreciated over the asset's useful life, and no separate subsequent measurement or presentation guidance is applied to the grant, as it is not separately identifiable from the carrying value of the related asset. The adoption of ASU 2025-10 did not have a material impact on the Company's condensed consolidated financial statements. In May 2026, the FASB issued ASU 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818) (“ASU 2026-02”). This standard establishes guidance for how a business entity accounts for environmental credits and environmental credit obligations. The standard also requires enhanced disclosures regarding the nature, terms, and amounts of environmental credits and obligations recognized in the financial statements. ASU 2026-02 is effective for annual and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating this ASU to determine its impact on the Company's consolidated financial statements.

Chord Energy Corporation, a Delaware corporation (together with its consolidated subsidiaries, the “Company” or “Chord”), is an independent exploration and production (“E&P”) company engaged in the acquisition, exploration, development and production of crude oil, NGL and natural gas primarily in the Williston Basin with limited non-operated interests in the Marcellus Shale.

The accompanying unaudited condensed consolidated financial statements of the Company have not been audited by the Company’s independent registered public accounting firm, except that the Condensed Consolidated Balance Sheet at December 31, 2025 is derived from audited financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary for the fair statement of the Company’s financial position, have been included. Management has made certain estimates and assumptions that affect reported amounts in the unaudited condensed consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The results for interim periods are not necessarily indicative of annual results.

These interim financial statements have been prepared pursuant to the rules and regulations of the SEC regarding interim financial reporting. Certain disclosures have been condensed or omitted from these financial statements. Accordingly, they do not include all of the information and notes required by GAAP for complete consolidated financial statements and should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (“2025 Annual Report”).

As a producer of crude oil, NGL and natural gas, the Company’s revenue, profitability and future growth are substantially dependent upon the prevailing and future prices for crude oil, NGL and natural gas, which are cyclical and dependent upon numerous factors beyond the Company’s control such as economic, geopolitical, political and regulatory developments and competition from other energy sources. Energy markets experienced significant volatility during the first half of 2026, driven primarily by the escalation of conflict in the Middle East beginning in late February and the resulting disruptions to global oil and natural gas supply following the effective closure of the Strait of Hormuz to most commercial shipping. Continued geopolitical tensions, including the uncertain pace and durability of any diplomatic resolution between the United States and Iran and periodic actual and potential escalations in hostilities, uncertainty around OPEC+ production policy, including the withdrawal of the United Arab Emirates from OPEC+ effective in May 2026 and the withdrawal’s potential to reduce the group’s ability to coordinate global supply, and the potential economic outcomes of tariff and trade policy decisions of the U.S. or other governments create difficulty in predicting future impacts to commodity prices, which could affect the Company’s financial position, results of operations, cash flows, capital and operating costs, and the quantities of crude oil, NGL and natural gas reserves that may be economically produced.

The Company accounts for investments in entities over which it has the ability to exercise significant influence, but not control, using the equity method of accounting in accordance with FASB ASC 323-10, Investments—Equity Method and Joint Ventures. Significant influence is generally evidenced by ownership of 20% or more of the investee's voting stock; however, significant influence may also be established through other means, including representation on the investee's board of directors, regardless of the level of ownership interest held. Under the equity method, the investment is initially recorded at cost and subsequently adjusted each period for additional investments, distributions and the Company's proportionate share of the investee's net earnings or losses, which is recognized in the Company's Condensed Consolidated Statement of Operations. The Company assesses equity method investments for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If the Company determines that a loss in the value of any of the investments is other-than-temporary, it writes down the investments to its estimated fair value.

During the three months ended June 30, 2026, the Company acquired an 8.5% ownership interest in a private specialty chemicals company, which is reflected within other long-term assets on the Condensed Consolidated Balance Sheets. The Company has applied the equity method of accounting as it has established significant influence through its contractual right to designate a member of the investee’s board of directors. The Company's board designee is an employee of the Company; accordingly, the Company's investment in and commercial arrangements with the investee are considered related party transactions under FASB ASC 850-10, Related Party Disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”). This standard requires that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. This ASU is effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating this ASU to determine its impact on the Company’s financial statement disclosures.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). This standard amends the guidance for measuring expected credit losses on accounts receivable and contract assets. The amendments are intended to clarify the application of the current expected credit loss model to short-term receivables and contract assets, and to provide additional guidance on the use of historical loss information and forecasts in estimating expected credit losses. ASU 2025-05 is effective for annual and interim reporting periods beginning after December 15, 2025, with early adoption permitted. The Company adopted this ASU effective January 1, 2026, and the adoption did not have a material impact on the Company’s condensed consolidated financial statements.

In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities (“ASU 2025-10”). This standard establishes guidance for how a business entity accounts for government grants, distinguishing between grants related to assets and grants related to income. The standard also requires enhanced disclosures regarding the nature, terms, and amounts of government grants recognized in the financial statements. ASU 2025-10 is effective for annual and interim reporting periods beginning after December 15, 2026, with early adoption permitted.

The Company early adopted ASU 2025-10 prospectively effective April 1, 2026, coinciding with its receipt of its first government grant of this nature. The Company elected the cost accumulation approach for grants related to the acquisition or construction of property, plant and equipment. Under this approach, monetary government grants that reimburse the Company for capital expenditures are recognized as a reduction of the cost basis of the related asset when the grant's recognition criteria are met. The resulting net cost basis is subsequently depreciated over the asset's useful life, and no separate subsequent measurement or presentation guidance is applied to the grant, as it is not separately identifiable from the carrying value of the related asset. The adoption of ASU 2025-10 did not have a material impact on the Company's condensed consolidated financial statements.

In May 2026, the FASB issued ASU 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818) (“ASU 2026-02”). This standard establishes guidance for how a business entity accounts for environmental credits and environmental credit obligations. The standard also requires enhanced disclosures regarding the nature, terms, and amounts of environmental credits and obligations recognized in the financial statements. ASU 2026-02 is effective for annual and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating this ASU to determine its impact on the Company's consolidated financial statements.