WASHINGTON (dpa-AFX) - Shares of oil and natural gas company Enerplus
Corporation (ERF) are rising more than 15 percent Thursday morning on the news
of it being acquired by Chord Energy Corporation (CHRD) in a cash and stock
transaction. The combined company will have an enterprise value of about $11
billion.

As per the deal, shareholders of Enerplus will receive 0.10125 shares of Chord,
and $1.84 per share in cash for each Enerplus share they own.

The company said that the transaction is expected to be accretive to all
metrics, including cash flow per share, free cash flow per share, net asset
value and return of capital.

ERF touched a new high of $18.94 this morning.



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