Name: Enerplus merges with Chord in US$3.8 billion deal
Brand: Wood Mackenzie
SKU: 164444
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Author: Wood Mackenzie

Deal Insight 04 March 2024

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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Bakken producers Chord Energy and Enerplus Corporation will merge in a deal valued at US$11 billion. Chord will acquire all outstanding Enerplus stock in exchange for 0.10125 shares of Chord common stock plus a cash payment of $1.84 per share for a total deal consideration of US$3.8 billion, inclusive of Enerplus' net debt. The total consideration represents a 90% equity and 10% cash split.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        Executive summary
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<li class="list__item-toggle font-semibold">
        Transaction details
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        Upstream assets
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        Deal analysis
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        Upsides and risks
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        Strategic rationale
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        Oil & gas pricing and assumptions
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<p class="push-half--bottom">This report includes the following images and tables:</p>

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         <li class="list__item push-quarter--bottom">Executive summary: Table 1</li><li class="list__item push-quarter--bottom">Pro-forma Bakken/Three Forks acreage map</li><li class="list__item push-quarter--bottom">Williston Basin oil well results (2021-2023)</li>
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            <li class="list__item push-quarter--bottom">Chord pro-forma 2P inventory by reservoir</li><li class="list__item push-quarter--bottom">Chord pro-forma Williston Basin cost curve</li><li class="list__item push-quarter--bottom">Upstream assets: Table 1</li><li class="list__item push-quarter--bottom">Deal analysis: Table 1</li><li class="list__item push-quarter--bottom">Deal analysis: Table 2</li><li class="list__item push-quarter--bottom">Deal analysis: Table 3</li><li class="list__item push-quarter--bottom">Oil & gas pricing and assumptions: Table 1</li><li class="list__item push-quarter--bottom">Oil & gas pricing and assumptions: Table 2</li>
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<p class="font-regular" >Enerplus merges with Chord in US$3.8 billion deal</p>
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