Energy M&A flows downstream from Big Oil [Reuters]
Chord Energy Corporation (CHRD)
Company Research
Source: Reuters
NEW YORK, Feb 22 (Reuters Breakingviews) - The oil deals keep flowing downstream. Chord Energy's (CHRD.O) , opens new tab is the latest, saying on Thursday that it would join forces , opens new tab with Canada's Enerplus (ERF.TO) , opens new tab . At only about 287,000 of combined barrels of oil equivalent last quarter, the $11 billion mostly-stock combination lacks Exxon Mobil's (XOM.N) , opens new tab or Chevron's (CVX.N) , opens new tab industry-shaking acquisition plans. And instead of operating in the fast-growing fields of Texas or Guyana, it features North Dakota's drying Williston Basin. It makes sense all the same. Chord reckons it can wring out some $150 million of annual drilling, administrative and lease-related operating expenses, and pegs their value at more than $750 million today. The estimate sounds conservative, at just 7% of the combined market values before the news, but investors are not even giving them full credit for those savings. Valuable synergies sho
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CHRD
Earnings
- 2/21/24 - Beat
CHRD
Sec Filings
- 4/16/24 - Form 4
- 4/9/24 - Form DEFM14A
- 4/8/24 - Form DEFA14A
- CHRD's page on the SEC website