According to The Wall Street Journal, under the deal's terms, Enerplus shareholders will receive 0.10125 shares of Chord Energy common stock and $1.84 in cash for each share they own. Consequently, about 67% of the merged entity will be owned by existing Chord Energy shareholders, and Enerplus shareholders will own the remaining 33%. Danny Brown, the current President and CEO of Chord Energy, will maintain his roles in the new company. The merger is expected to generate approximately $150 million in annual savings from reduced administrative and operational costs. Having received unanimous approval from the boards of both companies, the merger is slated for completion in mid-2024, pending regulatory consent and shareholder approval. The combined production of the companies in the fourth quarter was reported at 287,000 barrels of oil equivalent per day.
Chord Energy and Enerplus to Merge, Creating $11 Billion Oil and Gas Giant
Thursday, February 22, 2024
1 MIN
![Chord Energy and Enerplus to Merge, Creating $11 Billion Oil and Gas Giant](https://good-time-invest.com/wp-content/uploads/2024/02/dall·e-2024-02-22-14.37.37-visualize-a-photo-realistic-image-that-symbolizes-the-merger-between-chord-energy-and-enerplus-creating-an-11-billion-oil-and-gas-giant.-the-scene-i-840x360.webp)
Chord Energy and Enerplus have announced a merger, forming a new oil and gas company valued at $11 billion
You will be interested
![11th Package of EU Sanctions](https://good-time-invest.com/wp-content/uploads/2023/04/snimok-ekrana-2023-04-20-v-16.08.04-560x560.png?v=1681996102)
Thursday, April 20, 2023
11th Package of EU Sanctions
Measures against the Russian nuclear power industry and the fight against the avoidance of economic restrictions
![End of Atomic Cooperation](https://good-time-invest.com/wp-content/uploads/2022/08/snimok-ekrana-2022-08-28-v-13.10.18-560x560.png?v=1661681430)
Sunday, August 28, 2022
End of Atomic Cooperation
Ukraine broke off cooperation in the field of nuclear energy with the aggressor country
Once a week we send a digest with the most popular articles
No spam, we promise
Thank you for subscribing