Deal Insight
Enerplus merges with Chord in US$3.8 billion deal
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
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.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Pro-forma Bakken/Three Forks acreage mapWilliston Basin oil well results (2021-2023)
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Chord pro-forma 2P inventory by reservoirChord pro-forma Williston Basin cost curveUpstream assets: Table 1Deal analysis: Table 1Deal analysis: Table 2Deal analysis: Table 3Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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