Advertisement
U.S. markets closed
  • S&P 500

    5,123.41
    -75.65 (-1.46%)
     
  • Dow 30

    37,983.24
    -475.84 (-1.24%)
     
  • Nasdaq

    16,175.09
    -267.10 (-1.62%)
     
  • Russell 2000

    2,003.17
    -39.43 (-1.93%)
     
  • Crude Oil

    85.45
    +0.43 (+0.51%)
     
  • Gold

    2,360.20
    -12.50 (-0.53%)
     
  • Silver

    27.97
    -0.28 (-0.99%)
     
  • EUR/USD

    1.0646
    -0.0085 (-0.79%)
     
  • 10-Yr Bond

    4.4990
    -0.0770 (-1.68%)
     
  • GBP/USD

    1.2451
    -0.0104 (-0.83%)
     
  • USD/JPY

    153.2400
    +0.0370 (+0.02%)
     
  • Bitcoin USD

    67,277.92
    -3,633.23 (-5.12%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,995.58
    +71.78 (+0.91%)
     
  • Nikkei 225

    39,523.55
    +80.92 (+0.21%)
     

UPDATE 1-Chord Energy to buy Canada's Enerplus to boost Williston basin presence

(Adds details on the deal from paragraph 2 onwards)

Feb 21 (Reuters) - U.S. energy firm Chord Energy said on Wednesday that it would acquire Canada's Enerplus, creating a combined entity with an enterprise value of $11 billion.

Under the terms of the agreement, Enerplus shareholders will receive 0.10125 shares of Chord common stock and $1.84 in cash for each common share of Enerplus owned at closing.

Chord said it would issue about 20.7 million shares of its common stock.

The combined company is expected to be a premier operator in the Williston Basin, with approximately 1.3 million net acres.

Enerplus operates mainly in the Bakken Basin in North Dakota and also has a footprint in the Marcellus shale region in Pennsylvania. (Reporting by Sourasis Bose in Bengaluru; Editing by Pooja Desai)

Advertisement