Dear Valued Supplier,
We are pleased to share that Chord has entered into an agreement to combine with Enerplus in a transaction that will enhance our premier Williston Basin
position. We are bringing together complementary and high-quality assets, and the combined company will have increased scale and inventory with approximately 1.3 million net acres and combined fourth quarter 2023 production of 287 MBoepd.
Two years ago, we formed Chord and created a company with a leading Williston Basin position. The step we are taking today allows us to build on that
foundation, continue to expand our asset base and drive further success. We are excited about the compelling benefits for Chords and Enerplus stakeholders as we take this next step into the future.
Like Chord, the team at Enerplus is committed to excellence in operating practices, ESG and sustainability, and we look forward to leveraging best practices
from both companies. Joining the outstanding talent and technical acumen from Chord and Enerplus creates a stronger, larger entity that is even better positioned to capitalize on the significant potential of our assets and organizations.
Until the transaction closes, which we expect to occur by mid-year 2024, we will continue to operate as separate,
independent companies. Importantly, it remains business as usual, and we remain as focused as ever on maintaining our strong relationships with you. As always, we will continue to operate with a focus on safety and responsibility, and we request
your continued support reinforcing this priority.
Should you have any questions, please do not hesitate to reach out to your usual point of contact.
We appreciate our relationship with you and thank you for your continued support.
Sincerely,
NAME
Forward-Looking Statements
Certain statements in this
document concerning the transaction, including any statements regarding the expected timetable for completing the transaction, the results, effects, benefits and synergies of the transaction, future opportunities for the combined company, future
financial performance and condition, guidance and any other statements regarding Chords or Enerplus future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not
historical facts are forward-looking statements based on assumptions currently believed to be valid. Forward-looking statements are all statements other than statements of historical facts. The words anticipate,
believe, ensure, expect, if, intend, estimate, probable, project, forecasts, predict, outlook, aim,
will, could, should, would, potential, may, might, anticipate, likely plan, positioned, strategy, and
similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. Specific forward-looking statements include statements regarding Chords or Enerplus plans and
expectations with respect to the transaction and the anticipated impact of the transaction on the combined companys results of operations, financial position, growth opportunities and competitive position. The forward-looking statements are
intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated,
including, but not limited to, the possibility that shareholders of Chord may not approve the issuance of new shares of Chord common stock in the transaction or that shareholders of Enerplus may not approve the transaction; the risk that a condition
to closing of the transaction may not be satisfied; that either party may terminate the arrangement agreement or that the closing of the transaction might be delayed or not occur at all; potential adverse reactions or changes to business or employee
relationships of Chord or Enerplus, including those resulting from the announcement or completion of the transaction; the diversion of management time on transaction-related issues; the ultimate timing, outcome and results of integrating the
operations of Chord and Enerplus; the effects of the business combination of Chord and Enerplus, including the combined companys future financial condition, results of operations, strategy and plans; the ability of the combined company to
realize anticipated synergies in the timeframe expected or at all; changes in capital markets and the ability of the combined company to finance operations in the manner expected; regulatory approval of the transaction; the effects of commodity
prices; the risks of oil and gas activities; and the fact that operating costs and business disruption may be greater than expected following the public announcement or consummation of the transaction. Expectations regarding business outlook,
including changes in revenue, pricing, capital expenditures, cash flow generation, strategies for the combined companys operations, oil and natural gas market conditions, legal, economic and regulatory conditions, and environmental matters are
only forecasts regarding these matters.