Chord energy and enerplus to combine in $11 billion transaction creating premier williston-focused e&p company with top-tier shareholder returns

Enhanced operating scale to drive returns and free cash flow; combined acreage positiontotaling 1.3 million net acres and combined 4q23 production of 287,000 boepd combined company has approximately 10 years of low-breakeven inventory with significant opportunity to enhance returns through efficiencies and expanding three-mile lateral opportunities transaction accretive to key metrics while preserving low leverage; strong balance sheet and significant liquidity at close transaction expected to generate administrative, capital and operational cost synergies of up to $150 million annually with after-tax present value up to $750 million post-combination return of capital expected to remain at chord's pre-combination level of 75%+ of free cash flow; expected 2024 pro forma free cash flow of $1.2 billion (2) commitment to esg and sustainability excellence and capitalizing on combined best practices danny brown to serve as president and ceo; ian dundas to serve as advisor to the ceo and director; three additional enerplus directors to join combined company board companies to host conference call today at 6:00 p.m. et (5:00 p.m.
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