Chord Energy (CHRD) and Enerplus (ERF) said they have completed their merger transaction, with Enerplus shares ceasing trading on the New York Stock Exchange on Friday and to be delisted from the Toronto Stock Exchange on June 3.
Chord now expects over $200 million in annual synergies from the business combination, $50 million more than its initial estimate, according to the statement. It also raised the borrowing base to $3 billion and the amount of elected commitments to $1.5 billion.
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