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home / news releases / CHRD - Chord Energy Expects $150 Million Per Year In Cost Savings By Merging With Enerplus

CHRD - Chord Energy Expects $150 Million Per Year In Cost Savings By Merging With Enerplus

Chord Energy Corporation

2024-04-25 13:51:07 ET

Summary

  • Chord Energy Corporation is merging with Enerplus Corporation, with Enerplus shareholders receiving $1.84 in cash plus 0.10125 Chord shares per Enerplus share.
  • The combined company is expected to generate nearly $1.3 billion in pro forma 2024 free cash flow based on current strip prices.
  • The combined company also expects $150 million per year in cost savings, mainly realized after 2024.
  • Enerplus's DJ Basin and Appalachian assets are divestiture candidates.

The shareholder votes about Chord Energy Corporation's ( CHRD ) merger with Enerplus Corporation ( ERF ) are planned for May . Based on current strip prices, the combined company could generate close to $1.3 billion in pro forma 2024 free cash flow....

For further details see:

Chord Energy Expects $150 Million Per Year In Cost Savings By Merging With Enerplus
Stock Information
Company Name: Chord Energy Corporation
Stock Symbol: CHRD
Market: NASDAQ
Website: chordenergy.com
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