Chord Energy Corporation and Enerplus Corporation announced they have entered into a definitive arrangement agreement under which Chord will combine with Enerplus in an approximately $11 billion stock and cash transaction. The combined company will have a premier Williston Basin position with deep, low-cost inventory, approximately 1.3 million net acres, combined fourth quarter production of 287 MBoepd, and enhanced free cash flow generation to return capital to shareholders. Following close of the transaction, the board of directors of the combined company will increase to 11 members and will initially comprise seven representatives from Chord and four representatives from Enerplus, including Ian Dundas, who will also serve as Advisor to the CEO of Chord.

Danny Brown will serve as Director, President and Chief Executive Officer of the combined company. The remainder of the company?s leadership team will include Michael Lou, Chord?s Chief Financial Officer, Darrin Henke, Chord?s Chief Operating Officer and Shannon Kinney, Chord?s General Counsel, who will continue to serve in their respective capacities in the combined company.