Whiting and Oasis Complete Combination, Establishing Chord Energy

Chord Energy Is a Scaled Unconventional U.S. Oil Producer with a Premier Williston Basin Acreage Position and Sustainable Free Cash Flow

HOUSTON, July 1, 2024 /PRNewswire/ -- Chord Energy Corporation CHRD (Chord or the Company) today announced the successful completion of the combination of Whiting Petroleum Corporation (Whiting) and Oasis Petroleum Inc. (Oasis), creating a scaled unconventional U.S. oil producer with a premier Williston Basin position with top tier assets across approximately 972,000 net acres, combined first quarter production of 171.1 thousand boepd (historical Oasis has been adjusted for three stream reporting), and enhanced free cash flow generation. Chord's common stock is expected to begin trading on the NASDAQ Global Select Market under the ticker symbol CHRD on July 5, 2022. The new company is headquartered in Houston.

The word chord is frequently used to describe multiple musical notes sounded simultaneously and harmoniously, while an alternative definition is a line segment joining two points on a circle. Chord Energy represents the joining of separate entities whose complementary strengths create something more formidable than either independent entity. Together the new company is positioned to prosper and deliver value creation through the constantly evolving energy landscape.

We are excited to establish Chord Energy, which will build on the proud legacies and extraordinary talent and capabilities of Whiting and Oasis, said Danny Brown, Chord's President and Chief Executive Officer. With a premier Williston Basin position, a peer-leading balance sheet, significant scale and enhanced free cash flow generation, Chord is positioned to succeed. Chord will execute a focused strategy to enhance value delivery to our shareholders and maintain a strong commitment to safety, gas capture and emissions reduction. I want to thank all of our talented employees for their dedication to operating safely and with integrity as we integrate our two companies.