Chord Energy completed the merger with Enerplus in a c. $3.9bn deal.

Chord Energy, a company engaged in hydrocarbon exploration and hydraulic fracturing, completed the merger with Enerplus, an independent oil and gas producer, in a c. $3.9bn deal. Chord shareholders own approximately 67% of the combined company and Enerplus shareholders own approximately 33% on a fully diluted basis. The combined company's enterprise value of approximately $11bn is inclusive of Enerplus' net debt, based on the transaction exchange ratio, and the closing share prices for Chord and Enerplus as of February 20, 2024. "We are excited to complete the combination with Enerplus, creating a premier Williston Basin operator with enhanced scale, significant low-cost inventory, financial strength, and peer-leading shareholder returns. We are extremely grateful for the hard work, dedication, and positive attitude of both the Chord and Enerplus teams, who have been working diligently to help us realize the full potential of this combination. We are leveraging best practices from both companies to create a stronger, more efficient organization and, at this point, see over $200m of annual synergies vs. our original estimate of $150m," Danny Brown, Chord Energy President and CEO.