Chord Energy and Enerplus are combining to create an $11 billion Williston Basin operator. The deal ends a long run in the Bakken for Enerplus, which bet on the emerging horizontal shale play in Montana nearly two decades ago.
Rystad projects that the combined Diamondback Energy-Endeavor Energy company will produce 819,500 barrels of oil equivalent per day in the Permian this yea.
The tie-up between Diamondback Energy and Endeavor Energy two of the Permian’s top oil producers is expected to create a new “super-independent” E&P with a market value north of $50 billion.