• Chord Energy (NasdaqGS:CHRD) has completed the acquisition of Enerplus, expanding its position in the Williston Basin.
• The deal adds to Chord Energy's inventory and is expected to improve its capital efficiency profile.
• This combination creates a larger, more concentrated Williston-focused operator with greater operational scale.

Chord Energy, trading at $94.85, now reflects a business that is meaningfully larger in the Williston Basin through the Enerplus acquisition. The stock is up 3.2% over the past week and 4.5% over the past 30 days, while showing a 296.2% return over 5 years and a 17.1% decline over the past year. For investors, this mix of long-term gains and recent pressure provides context for assessing how the new assets might reshape the story.

The Enerplus deal increases Chord Energy's operational footprint, inventory depth, and potential efficiency gains. This may influence how the company allocates capital and manages its balance sheet over time. Investors may want to watch how management integrates the combined asset base, updates its development plans in the Williston Basin, and communicates any changes to its priorities for returns of capital versus reinvestment.

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The Enerplus acquisition gives Chord Energy a denser footprint in its core Williston Basin, which can matter a lot for how efficiently it drills, completes wells, and uses shared infrastructure. With more inventory in a single basin and a service cost backdrop that some analysts already link to better capital efficiency, investors may focus on whether the combined company can sustain competitive well economics while keeping a tight rein on capital spending.

Chord Energy narrative: does the Enerplus deal change the story?

Recent commentary has highlighted Chord as a mid cap producer with a strong balance sheet, disciplined operations, and a capital return framework that has sent more than 90% of adjusted free cash flow back to shareholders. The Enerplus assets fit into that narrative as an incremental test of whether management can keep that shareholder friendly playbook intact while integrating a larger Williston position and updating long term capital plans.

Risks and rewards to keep in mind

• 🎁 More scale and inventory in one basin can support operating efficiencies and potentially smoother development planning over time.
• 🎁 Commentary that the stock trades below some fair value estimates and that earnings are forecast to grow, if achieved, frames the deal as part of a growth plus returns story.
• ⚠️ Profit margins of 3.5% compared with 21% last year, one off items, and a dividend that is not fully covered by earnings highlight execution and earnings quality questions as Chord absorbs Enerplus.
• ⚠️ Integration work and any future changes to capital plans or cost actions could add volatility if they differ from what analysts currently expect.

What to watch next

From here, it is worth tracking how management lays out combined guidance, capital spending plans for 2026, and whether margin trends, dividend coverage, and capital returns line up with expectations, and you can stay close to that evolving story through the community views in our community narratives hub.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.