Whiting, Oasis Petroleum Become Chord Energy as Merger Closes

The new company, Chord Energy based in Houston, has a premier Williston Basin position with top tier assets across approximately 972,000 net acres and a pledge to return 60% of its free cash flow to shareholders.

Hart Energy Staff
Whiting, Oasis Petroleum Become Chord Energy as Merger Closes

The formation of Chord Energy is the result of an agreement in March between two Williston Basin producers, Whiting Petroleum, based in Denver, and Oasis Petroleum, based in Houston, to combine in a $6 billion “mergers of equals” transaction. (Source: Chord Energy Corp.)

Whiting Petroleum Corp. and Oasis Petroleum Inc. completed the pair’s planned combination on July 1, forming Chord Energy Corp.

“We are excited to establish Chord Energy, which will build on the proud legacies and extraordinary talent and capabilities of Whiting and Oasis,” commented Danny Brown, Oasis CEO who will now lead the combined company.

In March, the two Williston Basin producers, Whiting, based in Denver, and Oasis, based in Houston, had announced an agreement to combine in a $6 billion “mergers of equals” transaction. Under the terms of the agreement, Whiting shareholders were to receive 0.5774 shares of Oasis common stock and $6.25 in cash for each share of Whiting common stock owned.

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