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HOUSTON, May 31, 2024 /PRNewswire/ -- Chord Energy Corporation (NASDAQ: CHRD) ("Chord", "Chord Energy" or the "Company") and Enerplus Corporation (TSX: ERF) (NYSE: ERF) ("Enerplus") announced today the completion of their previously announced business combination (the "Arrangement"). The Arrangement was approved by Chord and Enerplus shareholders on May 14, 2024 and May 24, 2024, respectively, and received the approval of the Court of King's Bench of Alberta on May 28, 2024.
Enerplus (ERF) closed at $20.27 in the latest trading session, marking a +0.6% move from the prior day.
Does Enerplus (ERF) have what it takes to be a top stock pick for momentum investors? Let's find out.
U.S. energy firm Chord Energy said on Wednesday that it would acquire Canada's Enerplus , creating a combined entity with an enterprise value of $11 billion.
Enerplus reported production that exceeded the midpoint of its Q4 2023 guidance by 7%. Enerplus' full-year production ended up 5% above the midpoint of its original 2023 guidance. This production strength was attributed to well outperformance, both for its new 2023 wells and its base production trends.
Enerplus' (ERF) fourth-quarter 2023 production surpasses guidance. However, the company anticipates a fall in first-quarter 2024 production due to a winter storm in January.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
An upward cost trend is anticipated to have affected Enerplus' (ERF) earnings in Q3.
ERF, EPM and SUN appear well-positioned to benefit from the current dynamics in the energy market, as crude oil prices continue their upward trajectory.
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