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