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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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.