Chord Energy has announced a $11 billion merger with Enerplus, creating a dominant player in the Williston Basin with significant operational efficiencies and production capabilities.

Information on the Target

Enerplus Corporation, founded in 1986 and headquartered in Calgary, Canada, is primarily focused on oil and gas production across North America. The company holds significant light oil assets in the Bakken region of North Dakota and natural gas assets in the Marcellus shale region of northeast Pennsylvania. Enerplus's asset portfolio consists of approximately 62% crude oil and natural gas liquids, with the remaining 38% comprising natural gas. In 2023, Enerplus produced around 100,015 barrels of oil equivalent and 2.8 million barrels of natural gas per day.

With a market capitalization of roughly $5 billion as of mid-March 2024, Enerplus has established itself as a significant player in the North American energy sector. The company's leadership under CEO Ian C. Dundas, along with a workforce of 404 employees, supports its operations and strategic goals in the evolving oil and gas landscape.

Industry Overview in Canada

The Canadian oil and gas industry is characterized by its rich reserves and substantial production capacity, positioning the country as one of the top exporters globally. The sector has witnessed considerable growth driven by innovations in extractio