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Stockholders' Equity
 3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Dividends
The following table summarizes the Company’s fixed and variable dividends for the first quarter of 2023 and 2022, respectively.
Rate per share
BaseVariableTotalTotal Dividends Declared
(In thousands)
Q1 2023$1.25 $3.55 $4.80 $204,884 
Q1 2022
$0.585 $3.00 $3.585 $73,074 
Total dividends declared in the table above includes $5.1 million and $3.0 million associated with dividend equivalent rights on unvested equity-based compensation awards for the three months ended March 31, 2023 and 2022, respectively.
On May 3, 2023, the Company declared base-plus-variable cash dividend of $3.22 per share of common stock, including a base cash dividend of $1.25 per share of common stock and a variable cash dividend of $1.97 per share of common stock. The dividends will be payable on May 30, 2023 to shareholders of record as of May 16, 2023.
Share-Repurchase Program
During the three months ended March 31, 2023, the Company repurchased 110,667 shares of common stock at a weighted average price of $135.55 per common share for a total cost of $15.0 million. As of March 31, 2023, there was $257.9 million remaining under the Company’s share-repurchase program.
The Company repurchased no shares of common stock during the three months ended March 31, 2022.
Warrants
The following table summarizes the Company’s outstanding warrants as of March 31, 2023:
Warrants(1)
Exercise Price
Legacy Oasis726,536$75.57 
Legacy Whiting - Series A2,775,767$116.37 
Legacy Whiting - Series B1,394,256$133.70 
Total4,896,559
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(1)Represents the number of warrants in terms of shares of Chord common stock.
During the three months ended March 31, 2023, there were 82,954 warrants exercised.