Chord Closes $4B Enerplus Acquisition

Chord Energy closed its $4 billion acquisition of Enerplus Corp., creating a top Williston Basin oil and gas producer.

The deal closed May 31 following approvals by Chord and Enerplus shareholders; the Court of King’s Bench of Alberta had approved the agreement on May 28.

The combination gives Chord another decade of drilling runway in the Bakken Shale play—the nation’s second-largest oil field behind the prolific Permian Basin, according to U.S. Energy Information Administration figures.

The deal also ends a long and pioneering run in the Bakken for Enerplus, which bet big on the emerging U.S. horizontal play when the Canadian E&P entered the field through acquisition nearly two decades ago.