2024-02-25 23:23:36 ET
Summary
- Chord Energy and Enerplus are merging in a stock and cash transaction valued at $11 billion, offering a premium to Enerplus shareholders.
- The merger will create a leading player in the Williston Basin, with a combined daily output of 254,000 boe.
- The combined firm expects to achieve $150 million in annual cost savings and generate $1.2 billion in free cash flow per year.
- In all, this transaction seems to make sense even without the planned synergies.
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For further details see:
Chord Energy And Enerplus: A Marriage That Makes Sense