One-Page Deal Sheet
Chord Energy and Enerplus to Combine in $11 Billion Transaction Creating Premier Williston-Focused E&P Company
Not Disclosed Not Disclosed
Announced Date
February 21,2024
Close Date
May 31,2024
Transaction Type
Corporate
Enterprise Value (EV)($MM)
11000
Asset/Basin:
["Williston Basin", "Appalachian Basin (Marcellus)"]
TargetZones:
["Middle Bakken", "T
Net Acres
236,000
Source Documents:
Location
Calculated Metrics( EV/Category)
Country
United States
State
North Dakota
County
Williams ,Dunn ,McKenzie
Play
Production Production
103,000 Boe/d
Production Mix
70 % Oil
Calculated Metrics( EV/Category)
$/ Flowing
106,796
$/ Acre
46,610
$/Location
3,928,571
Transaction Details:
Chord Energy announced it will acquire Enerplus Corporation in a transaction valued at approximately $11 billion, including net debt. In the deal, Chord is acquiring 236,000 net acres located in the core of the Williston Basin, along with 4Q23 production of 103 MBoepd, approximately 70% oil-weighted. The assets also include more than 2,800 gross drilling locations, supporting roughly 10 years of low-breakeven inventory.
The Enerplus assets enhance Chord’s scale and depth in the Williston with contiguous, high-quality acreage that is well-suited for extended lateral development. Operational and capital efficiencies are expected through shared best practices and infrastructure overlap.
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