Chord Energy Corporation (CHRD) Covered Calls

Chord Energy Corporation is an independent exploration and production company focused on the acquisition and development of unconventional oil and natural gas resources. Formed through the 2022 merger of Whiting Petroleum and Oasis Petroleum, and further expanded by the 2024 Enerplus merger, the company is the premier operator in the Williston Basin. Chord Energy leverages low-cost operations and a top-tier balance sheet to drive sustainable free cash flow and significant shareholder returns.

You can sell covered calls on Chord Energy Corporation to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for CHRD (prices last updated Fri 4:16 PM ET):

Chord Energy Corporation (CHRD) Stock Quote
Last Change Bid Ask Volume P/E Market Cap
102.89 +4.42 98.50 103.50 720K 34 5.6
Covered Calls For Chord Energy Corporation (CHRD)
Expiration Strike Call Bid Net Debit Return
If Flat		 Annualized
Return If Flat
Feb 20 105 1.80 101.70 1.8% 43.8%
Mar 20 105 3.80 99.70 3.8% 32.3%
Subscribers get access to the full covered call chain, and more features.

Want to make money with covered calls?  Sign Up For A Free Trial

Extended Business Description

Chord Energy Corporation (CHRD) is the dominant pure-play operator in the Williston Basin, covering North Dakota and Montana. In early 2026, the company is finalizing the full integration of its $11 billion merger with Enerplus and its late-2025 acquisition of Williston assets from XTO Energy. These strategic moves have consolidated Chord’s position as a low-cost leader, boasting the largest acreage footprint in the basin and a deep inventory of high-return, oil-weighted drilling locations.

Core Business and Strategic Pillars

  1. Williston Basin Operations: This is Chord’s primary engine, where it manages approximately 1.3 million net acres. In 2026, the company is focused on its "Efficiency King" initiative, transitioning 80% of its development program to 3-mile and 4-mile extended laterals. This technological shift has reduced well cycle times and driven breakeven costs down, making the portfolio resilient even at sub-$60 WTI oil prices.
  2. Production Mix & Infrastructure: The company maintains a highly oil-weighted production profile (roughly 60% oil), which maximizes revenue realizations. To support this, Chord utilizes an integrated midstream network and strategic gas capture technologies to ensure reliable delivery to market while meeting aggressive 2026 methane reduction targets.
  3. Return of Capital: Chord is a favorite for income-focused investors. In February 2026, management reaffirmed its commitment to returning 75% of free cash flow to shareholders. This framework is supported by a robust base dividend and opportunistic share repurchases, funded by the company’s industry-leading free cash flow yield.

Competitive Landscape

Chord Energy operates in a mature, consolidated basin where operational scale is the primary competitive advantage. Its most significant peers in the independent E&P space include Diamondback Energy and Devon Energy. In the mid-cap and high-yield growth sector, it is often compared to Matador Resources and SM Energy. For broad exposure to U.S. shale efficiency and large-cap stability, investors often look to EOG Resources. As it optimizes its Bakken footprint, it also overlaps with specialized producers like Magnolia Oil & Gas and Murphy Oil.

Strategic Outlook and Innovation

In 2026, Chord Energy is prioritizing "Maximum Inventory Life and Capital Discipline." Following its February 2026 update, the company provided production guidance of 157,000 to 161,000 barrels of oil equivalent per day (Boepd), with a capital budget optimized for free cash flow rather than volume growth. Innovation efforts are centered on AI-driven reservoir modeling and the use of 4-mile lateral technology to unlock previously marginal acreage. With a "best-in-class" balance sheet and a focus on operational excellence, Chord is positioned to act as a consolidator in the Williston Basin while delivering top-tier cash returns through the end of the decade.