Chord Energy Corporation has been given a Buy rating by UBS due to its strong position in the exploration and production sector.

The company focuses on acquiring, exploring, developing, and producing crude oil, natural gas liquids, and natural gas in the North Dakota and Montana regions of the Williston Basin.

Chord Energy has a significant land position of approximately 1.3 million acres, with 98% of it located in the Williston Basin. The company primarily targets the Middle Bakken and Three Forks formations.

Chord Energy has an average daily production of around 287,000 barrels of oil equivalent per day. Its production is sold to refiners, marketers, and other customers who have access to nearby pipeline and rail facilities, ensuring a strong distribution network for its resources.