Chord Energy names Michael Lou CEO after Danny Brown departs for Expand Energy

Chord Energy has a new chief executive. The Williston Basin oil producer said Monday its board appointed Michael Lou as president and CEO and as a director, effective immediately, after Danny Brown resigned to pursue another professional opportunity.

Brown told the company Oct. 16 that he was stepping down, effective Oct. 19, according to Chord's 8-K. Because he is leaving without "Good Reason" under the company's executive severance plan, he will not receive severance, the filing says. His resignation was not the result of any disagreement with the company.

Expand Energy announced the same day that Brown will become its president and CEO on Oct. 26.

Who is taking over

Lou, 52, had been Chord's executive vice president, chief strategy officer and chief commercial officer since March 2024 and was chief financial officer from July 2022 to March 2024. The company said he has spent 17 years in leadership roles at Chord and its predecessors. Chord said it has not yet set any new compensation arrangements for him.

"Chord Energy is implementing this leadership change from a position of strength," board chair Susan Cunningham said in a press release.

A preliminary look at the quarter

Chord paired the announcement with preliminary third-quarter results. Oil, natural gas and natural gas liquids volumes all came in above the high end of guidance, and capital spending was in line, the company said.

It repurchased $205 million of stock during the quarter at an average of $135.74 a share and another $44.3 million so far in the fourth quarter at $142.32. Cash stood at $804.7 million and total debt at $1.48 billion on Sept. 30. The figures are unaudited and could change as Chord completes its quarterly review.

By the numbers

• New CEO effective: Oct. 19, 2026
• Third-quarter buybacks: $205 million
• Fourth-quarter buybacks to date: $44.3 million
• Cash at Sept. 30: $804.7 million
• Total debt at Sept. 30: $1,482.2 million

Sources

1. Chord Energy Corporation, Form 8-K with Exhibit 99.1 (preliminary third-quarter 2026 results) and Exhibit 99.2 (leadership transition release), filed Oct. 19, 2026, accession 0001486159-26-000037
2. Expand Energy Corporation, Form 8-K with Exhibit 99.1 announcing Daniel E. Brown as president and CEO, filed Oct. 19, 2026, accession 0001104659-26-116739

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