Chord (CHRD) Updates 2024 Outlook After Enerplus Acquisition

Zacks06-03

Chord Energy Corporation CHRD completed the acquisition of Enerplus Corporation on May 31, 2024. The acquisition, valued at $4 billion, received the approval of both Chord and Enerplus shareholders on...

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The acquisition, valued at $4 billion, received the approval of both Chord and Enerplus shareholders on...</p>\n\n<a href=\"https://finance.yahoo.com/news/chord-chrd-updates-2024-outlook-132200873.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chord (CHRD) Updates 2024 Outlook After Enerplus Acquisition</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChord (CHRD) Updates 2024 Outlook After Enerplus Acquisition\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-03 21:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/chord-chrd-updates-2024-outlook-132200873.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chord Energy Corporation CHRD completed the acquisition of Enerplus Corporation on May 31, 2024. The acquisition, valued at $4 billion, received the approval of both Chord and Enerplus shareholders on...</p>\n\n<a href=\"https://finance.yahoo.com/news/chord-chrd-updates-2024-outlook-132200873.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4590","symbol_name":"PTP","start_time":0,"source_url":"https://finance.yahoo.com/news/chord-chrd-updates-2024-outlook-132200873.html","article_id":"2440749478","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Ts__bK8Toxm7jhK2oNNBlw--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/3c46e0f0023ea0734d9e0eb056fe00f1"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2440749478","pubTimestamp":1717420920,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Chord Energy CorporationCHRD completed the acquisition of Enerplus Corporation on May 31, 2024. The acquisition, valued at $4 billion, received the approval of both Chord and Enerplus shareholders on May 14 and May 24, respectively. It was also approved by the Court of King's Bench of Alberta on May 28, 2024.The merger is expected to create a leading operator within the Williston Basin. The combined entity is anticipated to boast significantly low-cost inventory, a sound financial position, and deliver enhanced scale and better shareholder returns. It will continue to focus on benefiting stakeholders and maximizing shareholder value.Per the previous announcement regarding the acquisition made in February 2024, Enerplus shareholders received 0.10125 shares of Chord common stock and $1.84 in cash in exchange for each common share of Enerplus. Consequently, Enerplus has been de-listed from the New York Stock Exchange following the acquisition and will also no longer be traded on the Toron","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4590":"PTP","BK4213":"石油与天然气的勘探与生产","SUN":"太阳石油","BK4179":"石油天然气设备与服务","BK4138":"石油与天然气的炼制和营销","HESM":"Hess Midstream Partners LP","CHRD":"Chord Energy Corp","BK4144":"石油与天然气的储存和运输","AROC":"Archrock, Inc"},"translate_title":"Chord(CHRD)在收购Enerplus后更新2024年展望","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AROC":1,"CHRD":1,"ERF":1,"HESM":1,"SUN":0.9},"content_text":"Chord Energy Corporation CHRD completed the acquisition of Enerplus Corporation on May 31, 2024. The acquisition, valued at $4 billion, received the approval of both Chord and Enerplus shareholders on May 14 and May 24, respectively. It was also approved by the Court of King's Bench of Alberta on May 28, 2024.\nThe merger is expected to create a leading operator within the Williston Basin. The combined entity is anticipated to boast significantly low-cost inventory, a sound financial position, and deliver enhanced scale and better shareholder returns. It will continue to focus on benefiting stakeholders and maximizing shareholder value.\nChord has highlighted that it will leverage best practices from both companies to create a more efficient organization and generate annual synergies exceeding $200 million (approximately), up from the original estimate of $150 million. In association with this deal, CHRD amended its existing credit agreement on May 31, 2024. The company increased the borrowing base to $3 billion and the total amount of elected commitments to $1.5 billion, thereby gaining access to an increased amount of funds.\nPer the previous announcement regarding the acquisition made in February 2024, Enerplus shareholders received 0.10125 shares of Chord common stock and $1.84 in cash in exchange for each common share of Enerplus. Consequently, Enerplus has been de-listed from the New York Stock Exchange following the acquisition and will also no longer be traded on the Toronto Stock Exchange after market close on Jun 3, 2024.\nAdditionally, Enerplus’ board of directors announced a dividend of $0.232675 per common share on May 23, 2024, payable on Jun 4 to shareholders of record as of May 30.\nCHRD also provided an updated outlook for 2024 following the closure of the deal. The combined output of oil, gas and NGL is expected to be in the range of 265,700-273,200 barrels of oil equivalent per day. Oil volumes are anticipated to be in the band of 152,300-156,800 barrels per day.\nZacks Rank and Key Picks\nCurrently, CHRD carries a Zacks Rank #3 (Hold).\nSome better-ranked stocks in the energy sector are Archrock Inc. AROC, Hess Midstream Partners LP HESM and Sunoco LP SUN. Archrock presently sports a Zacks Rank #1 (Strong Buy), while Hess Midstream and Sunoco carry a Zacks Rank of #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.\nArchrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.\nHess Midstream LP owns, operates, develops and acquires a wide range of midstream assets, providing services to Hess Corporation and other third-party customers. The partnership has a stable fee-based revenue model secured via long-term commercial contracts. Since Hess Midstream operates through 100% fee-based contracts, it is exposed to minimal commodity price risks.\nSunoco LP is one of the largest distributors of motor fuel in the United States. The partnership distributes fuel to independent dealers, commercial customers, convenience stores as well as distributors. Its current distribution yield is greater than that of the composite stocks in the industry, providing unitholders with consistent returns.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nSunoco LP (SUN) : Free Stock Analysis Report\nArchrock, Inc. (AROC) : Free Stock Analysis Report\nHess Midstream Partners LP (HESM) : Free Stock Analysis Report\nChord Energy Corporation (CHRD) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2440749478"}