Enerplus gone....WCP next?Interesting......the rumors was for Devon to be the ones to eventually buy Enerplus, but in the end, it's Chord Energy that got the prize. I wonder what happened there? Higher offer or did Devon get cold feet & opted for something better, looking for someone with exposure to vaunted Permain Basin? So interesting TURN of events for sure, and this shows me quite strongly that there's a an aggressive bidding war going on for US O&G assets. Which are in VERY high demand right now, espeically with Trump having a high degree of probability of ending up in as Potus in November..
Question now is who's next? On the Canadian side with companies that are either Canadian domiciled or have operations on both sides on the border, popular names like Baytex & Ovintiv come up. The latter being an completely US domiciled company now their MAIN foucus in now in the US. I don't know if ANY super major operator like Xom, Chevron, ConocoP or anyone else in the mid to large range would be interested in either, because of their significant exposure to the Candian sector. I think if either of those two were to get any offers, they would have to divest their problematic Canadian operations to make them attractive to US buyers.
As for solely Canadian operators, WCP looks like a sitting duck & the most obvious one for someone like Arc, who's an aggressive predator looking for a tasty target.......& meal.
https://finance.yahoo.com/news/chord-buy-enerplus-3-7-001126589.html
GLTA