• Chord Energy average gross margin for 2023 was 60.17%, a 1.34% decline from 2022.
• Chord Energy average gross margin for 2022 was 60.99%, a 19.14% decline from 2021.
• Chord Energy average gross margin for 2021 was 51.19%, a 1.25% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.