Chord to Buy Enerplus for $3.7 Billion to Bulk Up In Bakken (2)

Chord Energy Corp. agreed to buy Enerplus Corp. for $3.7 billion in stock and cash, continuing a flurry of oil and gas dealmaking and creating a leading producer in the Bakken shale formation of the northern US plains.

Enerplus investors will receive $1.84 per share, plus 0.10125 shares of Chord common stock, the companies said Wednesday.

Oil executives are pushing to build out their portfolios with future drilling sites and shore up cash flows. Last week, Diamondback Energy Inc. agreed to buy fellow Texas driller Endeavor Energy Resources LP in a $26 billion deal, topping off a year of roughly ...