Enerplus Corp T.ERF

Alternate Symbol(s): ERF

Energy Oil & Gas E&P

Enerplus Corporation is a Canada-based independent oil and gas exploration and production company. The Company is focused on the development of North American oil and natural gas assets. Its portfolio includes light oil assets in the Bakken, North Dakota, and a position in the Marcellus natural gas shale region in northeast Pennsylvania. The Company's operations are concentrated in the core of the Bakken/Three Forks light oil shale play where it holds approximately 235,600 net acres in North Dakota. The acreage is primarily located across the Fort Berthold Indian Reservation, as well as in Williams and Dunn Counties. It holds an interest in approximately 32,500 net acres in the dry gas window of the Marcellus shale in northeast Pennsylvania. This non-operated position is located in Susquehanna, Bradford, Wyoming, Sullivan and Lycoming counties.

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Enerplus Corp > Done Deal or Not?

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Comment by matt2018on Mar 29, 2024 9:00pm

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Post# 35960691

RE:Done Deal or Not?

It looks like a done deal.
The break fee seems high plus the market likes the combination of these two.
Both companies well run, with very little net debt, synergies, plus both stocks have been going higher since offer was announced.

speculation only.

retiredcf wrote: Do you think there will be another offer to take over ERF?

It is possible; Devon was interested in ERF earlier this year. There is a $240M break fee, but the premium was only 18%. Also the deal is mostly for CHRD shares which potentially leaves a cash bid from another party more appealing. We would give odds about 15% to 20%. (5iResearch)