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{{Short description|US Energy Company}}
{{Short description|US Energy Company}}
{{Infobox company
{{Infobox company
| name = Chord Energy Corporation
| name = Chord Energy Corporation
| logo =
| logo = Chord Energy logo.svg
| type = [[Public company]]
| type = [[Public company|Public]]
| traded_as = {{Nasdaq|CHRD}}
| traded_as = {{ubl|{{Nasdaq|CHRD}}|[[List of S&P 400 companies|S&P 400]] component}}
| industry = [[Petroleum industry]]
| industry = [[Petroleum industry]]
| founded = {{Start date and age|2022|07|01}}
| founded = {{Start date and age|2022|07|01}}
| predecessors = {{ubl|Oasis Petroleum|[[Whiting Petroleum]]}}
| hq_location = [[Houston, Texas]], U.S.
| hq_location = [[Houston, Texas]], U.S.
| key_people = {{nowrap|Daniel E. Brown, President & CEO<BR>Michael H. Lou, CFO}}
| key_people = {{nowrap|Daniel E. Brown ([[President (corporate title)|president]] & [[Chief executive officer|CEO]])<BR>Michael H. Lou ([[Chief financial officer|CFO]])<BR>[[Susan M. Cunningham]] (director)}}
| products = [[Petroleum]]<br>[[Natural gas]]
| products = [[Petroleum]]<br>[[Natural gas]]
| production = {{convert|171|e3BOE|lk=in}} per day (2022)
| production = {{convert|171|e3BOE|lk=in}} per day (2022)
| website = {{URL|https://www.chordenergy.com/}}
| website = {{URL|https://chordenergy.com/}}
}}
}}


'''Chord Energy Corporation''' is a company engaged in [[hydrocarbon exploration]] and [[hydraulic fracturing]] in the [[Williston Basin]] in North Dakota and Montana. It is organized in [[Delaware]] and headquartered in [[Houston, Texas]], with an office in [[Williston, North Dakota]]. It was formed by the 2022 merger of Oasis Petroleum and Whiting Petroleum.
'''Chord Energy Corporation''' is a company engaged in [[hydrocarbon exploration]] and [[hydraulic fracturing]] in the [[Williston Basin]] in North Dakota and Montana. It is organized in [[Delaware]] and headquartered in [[Houston, Texas]], with an office in [[Williston, North Dakota]]. The company was formerly known as Oasis Petroleum.


==History==
==History==
===Oasis Petroleum===
[[File:Oasis petroleum logo.svg|thumb|Oasis Petroleum logo]]
[[File:Oasis petroleum logo.svg|thumb|right|Oasis Petroleum logo]]
In February 2007, Oasis Petroleum was founded by Thomas B. Nusz and Taylor L. Reid and was financed by [[EnCap Investments]].<ref name=prospectus>{{cite web | url=https://www.sec.gov/Archives/edgar/data/1486159/000095012310058973/h69816b4e424b4.htm | title=Oasis Petroleum Inc. COMMON STOCK 42,000,000 shares | publisher=[[U.S. Securities and Exchange Commission]] | date=June 16, 2010}}</ref> In June 2007, the company acquired 175,000 net acres and {{convert|1|e3BOE|lk=in}} per day of production in [[Williston, North Dakota]] for $83 million.<ref name=prospectus/>
In February 2007, Oasis Petroleum was founded by Thomas B. Nusz and Taylor L. Reid and was financed by [[EnCap Investments]].<ref name=prospectus>{{cite web | url=https://www.sec.gov/Archives/edgar/data/1486159/000095012310058973/h69816b4e424b4.htm | title=Oasis Petroleum Inc. COMMON STOCK 42,000,000 shares | publisher=[[U.S. Securities and Exchange Commission]] | date=June 16, 2010}}</ref> In June 2007, the company acquired 175,000 net acres and {{convert|1|e3BOE|lk=in}} per day of production in [[Williston, North Dakota]] for $83 million.<ref name=prospectus/>


In 2008–2009, Oasis Petroleum acquired an additional 131,000 net acres and {{convert|1.1|e3BOE|lk=in}} per day of production nearby for $54 million.<ref name=prospectus/>
In 2008–2009, the company acquired an additional 131,000 net acres and {{convert|1.1|e3BOE|lk=in}} per day of production nearby for $54 million.<ref name=prospectus/>


In 2010, Oasis Petroleum became a [[public company]] via an [[initial public offering]] which raised over $400 million.<ref>{{cite news | url=https://www.reuters.com/article/oasis/update-1-oasis-petroleum-prices-ipo-at-14-shr-idUSN1618159720100617 | title=Oasis Petroleum prices IPO at $14/shr | work=[[Reuters]] | date=June 24, 2010}}</ref>
In 2010, the company became a [[public company]] via an [[initial public offering]] which raised over $400 million.<ref>{{cite news | url=https://www.reuters.com/article/oasis/update-1-oasis-petroleum-prices-ipo-at-14-shr-idUSN1618159720100617 | title=Oasis Petroleum prices IPO at $14/shr | work=[[Reuters]] | date=June 24, 2010}}</ref>


In 2013, Oasis Petroleum acquired 161,000 net acres in the Williston Basin for $1.5 billion.<ref>{{cite news | url=https://www.ogj.com/articles/2013/09/oasis-petroleum-adding-to-its-williston-basin-assets.html | title=Oasis Petroleum adding to its Williston basin assets | work=[[Oil & Gas Journal]] | date=September 5, 2013}}</ref>
In 2013, the company acquired 161,000 net acres in the Williston Basin for $1.5 billion.<ref>{{cite news | url=https://www.ogj.com/articles/2013/09/oasis-petroleum-adding-to-its-williston-basin-assets.html | title=Oasis Petroleum adding to its Williston basin assets | work=[[Oil & Gas Journal]] | date=September 5, 2013}}</ref>


In 2016, Oasis Petroleum acquired 55,000 net acres and 226 gross operated drilling locations in the Williston Basin from [[SM Energy]] for $785 million.<ref>{{cite news | url=https://www.ogj.com/articles/2016/10/oasis-to-buy-williston-assets-from-sm-energy-for-785-million.html | title=Oasis to buy Williston assets from SM Energy for $785 million | first=Matt | last=Zborowski | work=[[Oil & Gas Journal]] | date=October 18, 2016}}</ref>
In 2016, the company acquired 55,000 net acres and 226 gross operated drilling locations in the Williston Basin from [[SM Energy]] for $785 million.<ref>{{cite news | url=https://www.ogj.com/articles/2016/10/oasis-to-buy-williston-assets-from-sm-energy-for-785-million.html | title=Oasis to buy Williston assets from SM Energy for $785 million | first=Matt | last=Zborowski | work=[[Oil & Gas Journal]] | date=October 18, 2016}}</ref>


In 2017, Oasis Petroleum completed the [[corporate spin-off]] of its midstream operations.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/oasis-midstream-partners-lp-launches-initial-public-offering-300516851.html | title=Oasis Midstream Partners LP Launches Initial Public Offering | publisher=[[PR Newswire]] | date=September 11, 2017}}</ref><ref>{{cite news | url=https://www.bizjournals.com/houston/news/2017/09/21/houston-based-e-p-company-s-new-midstream-mlp.html | title=Oasis Petroleum's MLP Oasis Midstream Partners prices IPO below expected range | first=Olivia | last=Pulsinelli | work=[[American City Business Journals]] | date=September 21, 2017}}</ref> The same year, Oasis Petroleum acquired 20,300 net acres in the Delaware Basin for $946 million.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/oasis-petroleum-announces-delaware-basin-acquisition-and-provides-operational-updates-300569710.html | title=Oasis Petroleum Announces Delaware Basin Acquisition and Provides Operational Updates | publisher=[[PR Newswire]] | date=December 11, 2017}}</ref><ref>{{cite news | url=https://www.chron.com/business/energy/article/Oasis-Petroleum-in-946-million-deal-for-Delaware-12424301.php | title=Oasis Petroleum in $946 million deal for Delaware Basin land | first=Collin | last=Eaton | work=[[Houston Chronicle]] | date=December 12, 2017}}</ref><ref>{{cite news | url=https://www.bizjournals.com/houston/news/2017/12/12/oasis-petroleum-acquires-delaware-basin-acreage.html | title=Oasis Petroleum acquires Delaware Basin acreage for nearly $1B | first=Jen | last=Para | work=[[American City Business Journals]] | date=December 12, 2017}}</ref> It sold these assets in 2021.<ref>{{Cite news | url=https://www.willistonherald.com/news/oil_and_energy/oasis-petroleum-is-selling-its-permian-assets-for-half-what-it-paid-for-them-in/article_7620c668-ba6f-11eb-89ae-77e174fc6720.html | title=Oasis Petroleum is selling its Permian Assets for half what it paid for them in 2017 | first=Renée | last=Jean | work=[[Williston Herald]] | date=May 21, 2021}}</ref>
In 2017, the company completed the [[corporate spin-off]] of its midstream operations.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/oasis-midstream-partners-lp-launches-initial-public-offering-300516851.html | title=Oasis Midstream Partners LP Launches Initial Public Offering | publisher=[[PR Newswire]] | date=September 11, 2017}}</ref><ref>{{cite news | url=https://www.bizjournals.com/houston/news/2017/09/21/houston-based-e-p-company-s-new-midstream-mlp.html | title=Oasis Petroleum's MLP Oasis Midstream Partners prices IPO below expected range | first=Olivia | last=Pulsinelli | work=[[American City Business Journals]] | date=September 21, 2017}}</ref> The same year, Oasis Petroleum acquired 20,300 net acres in the Delaware Basin for $946 million.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/oasis-petroleum-announces-delaware-basin-acquisition-and-provides-operational-updates-300569710.html | title=Oasis Petroleum Announces Delaware Basin Acquisition and Provides Operational Updates | publisher=[[PR Newswire]] | date=December 11, 2017}}</ref><ref>{{cite news | url=https://www.chron.com/business/energy/article/Oasis-Petroleum-in-946-million-deal-for-Delaware-12424301.php | title=Oasis Petroleum in $946 million deal for Delaware Basin land | first=Collin | last=Eaton | work=[[Houston Chronicle]] | date=December 12, 2017}}</ref><ref>{{cite news | url=https://www.bizjournals.com/houston/news/2017/12/12/oasis-petroleum-acquires-delaware-basin-acreage.html | title=Oasis Petroleum acquires Delaware Basin acreage for nearly $1B | first=Jen | last=Para | work=[[American City Business Journals]] | date=December 12, 2017}}</ref> It sold these assets in 2021.<ref>{{Cite news | url=https://www.willistonherald.com/news/oil_and_energy/oasis-petroleum-is-selling-its-permian-assets-for-half-what-it-paid-for-them-in/article_7620c668-ba6f-11eb-89ae-77e174fc6720.html | title=Oasis Petroleum is selling its Permian Assets for half what it paid for them in 2017 | first=Renée | last=Jean | work=[[Williston Herald]] | date=May 21, 2021}}</ref>


In September 2020, Oasis Petroleum filed for [[Chapter 11]] [[bankruptcy]]; it emerged from bankruptcy in November 2020.<ref>{{Cite press release | url=https://www.prnewswire.com/news-releases/oasis-petroleum-successfully-completes-financial-restructuring-301177693.html | title=Oasis Petroleum Successfully Completes Financial Restructuring | publisher=[[PR Newswire]] | date=November 19, 2020}}</ref><ref>{{Cite news | url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/oasis-petroleum-emerges-from-chapter-11-bankruptcy-61386979 | title=Oasis Petroleum emerges from Chapter 11 bankruptcy | first=Stephen Cedric | last=Jumchai | work=[[S&P Global]] | date=November 19, 2020}}</ref>
In September 2020, the company filed prematurely for [[Chapter 11]] [[bankruptcy]]; it emerged from bankruptcy in November 2020.<ref>{{Cite press release | url=https://www.prnewswire.com/news-releases/oasis-petroleum-successfully-completes-financial-restructuring-301177693.html | title=Oasis Petroleum Successfully Completes Financial Restructuring | publisher=[[PR Newswire]] | date=November 19, 2020}}</ref><ref>{{Cite news | url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/oasis-petroleum-emerges-from-chapter-11-bankruptcy-61386979 | title=Oasis Petroleum emerges from Chapter 11 bankruptcy | first=Stephen Cedric | last=Jumchai | work=[[S&P Global]] | date=November 19, 2020}}</ref>


In July 2022, the company merged with [[Whiting Petroleum]] and was renamed Chord Energy.<ref>{{Cite press release | url=https://www.prnewswire.com/news-releases/whiting-and-oasis-complete-combination-establishing-chord-energy-301579674.html | title=Whiting and Oasis Complete Combination, Establishing Chord Energy | publisher=[[PR Newswire]] | date=July 1, 2022}}</ref><ref>{{Cite news | url=https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/070522-whiting-oasis-complete-merger-renamed-chord-energy | title=Whiting, Oasis complete merger, renamed Chord Energy | first=Starr | last=Spencer | work=[[S&P Global]] | date=July 5, 2022}}</ref>
===Whiting Petroleum===
[[File:Whiting Petroleum Corporation logo.svg|thumb|right|Whiting Petroleum logo]]
Whiting Petroleum was founded in 1980 by Kenneth R. Whiting and Bert Ladd.<ref>{{cite news | url=https://www.aspentimes.com/news/obituaries/kenneth-r-whiting/ | title=Obituaries: Kenneth R. Whiting | work=[[The Aspen Times]] | date=June 3, 2014}}</ref>

In 1992, [[Alliant Energy]], a Midwest [[public utility]], acquired Whiting Petroleum for $27.5 million.<ref>{{cite web | url=http://media.corporate-ir.net/media_files/IROL/14/147759/reports/annual_2003.pdf | title=Whiting Petroleum Corporation 2003 Annual Report}}</ref>

In 2003, Whiting Petroleum became a [[public company]] via an [[initial public offering]] which raised over $400 million.<ref>{{cite news | url=https://www.bizjournals.com/denver/stories/2003/11/17/daily36.html | title=Whiting Petroleum prices IPO | work=[[American City Business Journals]] | date=November 20, 2003}}</ref>In 2005, the company acquired assets in the North Ward Estes field for $459 million.<ref>{{cite news | url=https://www.ogj.com/articles/2005/10/whiting-completes-north-ward-estes-acquisition.html | title=Whiting completes North Ward Estes acquisition | work=[[Oil & Gas Journal]] | date=October 10, 2005}}</ref> The property was sold in 2016 for $300 million.

In July 2013, Whiting Petroleum sold assets in the [[Oklahoma Panhandle]] to BreitBurn Energy Partners for $846 million.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20130715006342/en/BreitBurn-Energy-Partners-L.P.-Completes-Acquisition-Oklahoma | title=BreitBurn Energy Partners L.P. Completes Acquisition of Oklahoma Panhandle Assets from Whiting Oil and Gas Corporation | publisher=[[Business Wire]] | date=July 15, 2013}}</ref> In August 2013, Whiting Petroleum acquired assets in the Williston Basin for $260 million.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20130827005846/en/Whiting-Petroleum-Corporation-Announces-Agreement-Acquire-Properties | title=Whiting Petroleum Corporation Announces Agreement to Acquire Properties in the Williston Basin for $260 Million | publisher=[[Business Wire]] | date=August 27, 2013}}</ref> In 2014, Whiting Petroleum acquired Kodiak Oil & Gas.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20141208005164/en/Whiting-Petroleum-Completes-Acquisition-Kodiak-Oil-Gas | title=Whiting Petroleum Completes Acquisition of Kodiak Oil & Gas | publisher=[[Business Wire]] | date=December 8, 2014}}</ref>

In January 2017, Whiting Petroleum sold midstream assets in North Dakota for $375 million.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20170103006083/en/Whiting-Petroleum-Corporation-Closes-Sale-North-Dakota | title=Whiting Petroleum Corporation Closes Sale of North Dakota Midstream Assets for $375 Million | publisher=[[Business Wire]] | date=January 3, 2017}}</ref><ref>{{cite news | url=https://www.ogj.com/articles/2017/01/whiting-closes-sale-of-north-dakota-midstream-assets.html | title=Whiting closes sale of North Dakota midstream assets | first=Robert | last=Brelsford | work=[[Oil & Gas Journal]] | date=January 3, 2017}}</ref> In August 2017, Whiting Petroleum sold its assets near the [[Fort Berthold Indian Reservation]] in North Dakota for $500 million.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20170815005546/en/Whiting-Petroleum-Corporation-Announces-500-Million-Sale | title=Whiting Petroleum Corporation Announces $500 Million Sale of Fort Berthold Area Assets in North Dakota | publisher=[[Business Wire]] | date=August 15, 2017}}</ref>

On April 1, 2020, Whiting Petroleum filed [[bankruptcy]] in the U.S. Bankruptcy Court for the Southern District of Texas; it emerged on September 1, 2020.<ref>{{Cite news | url=https://www.reuters.com/article/us-whiting-petrol-bankruptcy-urgent/shale-producer-whiting-petroleum-emerges-from-bankruptcy-idUSKBN25S5WO | title=Shale producer Whiting Petroleum emerges from bankruptcy | work=[[Reuters]] | date=September 1, 2020}}</ref>


In February 2024, Chord Energy announced the acquisition of Canada's Enerplus for operations in the [[Williston Basin]] in [[North Dakota]]. The deal is valued at $11 billion.<ref>{{cite web |website=Reuters |title=Chord Energy, Enerplus to form $11 bln Williston-focused oil firm |url=https://www.reuters.com/business/energy/chord-energy-buy-canadas-enerplus-2024-02-21/|date=February 22, 2024 }}</ref>
==References==
==References==
{{Reflist|1}}
{{Reflist|1}}


==External links==
==External links==
*{{Official|https://www.chordenergy.com}}
{{Finance links
{{Finance links
| name = Chord Energy Corporation
| name = Chord Energy Corporation
| google = CHRD
| symbol = CHRD
| google = CHRD:NASDAQ
| yahoo = CHRD
| yahoo = CHRD
| bloomberg = CHRD:US
| bloomberg = CHRD:US
| reuters = CHRD
| reuters = CHRD.O
| sec_cik = CHRD
| sec_cik = 1486159
}}
}}


{{Petroleum industry}}
{{Petroleum industry}}
{{S&P 400 companies}}


⚫
[[Category:2022 establishments in Texas]]
[[Category:2022 mergers and acquisitions]]
[[Category:Companies based in Houston]]
[[Category:Companies based in Houston]]
[[Category:Companies listed on the Nasdaq]]
[[Category:Companies listed on the Nasdaq]]
[[Category:Energy companies established in 2022]]
[[Category:Non-renewable resource companies established in 2022]]
[[Category:Oil companies of the United States]]
[[Category:Oil companies of the United States]]
[[Category:Petroleum in Texas]]
[[Category:Petroleum in Texas]]
⚫
[[Category:2022 establishments in Texas]]
[[Category:Companies based in Harris County, Texas]]
[[Category:Companies in the S&P 400]]

Latest revision as of 08:22, 24 April 2024

Chord Energy Corporation
Company typePublic
IndustryPetroleum industry
Predecessors
FoundedJuly 1, 2022; 2 years ago (2022-07-01)
HeadquartersHouston, Texas, U.S.
Key people
Daniel E. Brown (president & CEO)
Michael H. Lou (CFO)
Susan M. Cunningham (director)
ProductsPetroleum
Natural gas
Production output
171 thousand barrels of oil equivalent (1,050,000 GJ) per day (2022)
Websitechordenergy.com

Chord Energy Corporation is a company engaged in hydrocarbon exploration and hydraulic fracturing in the Williston Basin in North Dakota and Montana. It is organized in Delaware and headquartered in Houston, Texas, with an office in Williston, North Dakota. The company was formerly known as Oasis Petroleum.

History

[edit]
Oasis Petroleum logo

In February 2007, Oasis Petroleum was founded by Thomas B. Nusz and Taylor L. Reid and was financed by EnCap Investments.[1] In June 2007, the company acquired 175,000 net acres and 1 thousand barrels of oil equivalent (6,100 GJ) per day of production in Williston, North Dakota for $83 million.[1]

In 2008–2009, the company acquired an additional 131,000 net acres and 1.1 thousand barrels of oil equivalent (6,700 GJ) per day of production nearby for $54 million.[1]

In 2010, the company became a public company via an initial public offering which raised over $400 million.[2]

In 2013, the company acquired 161,000 net acres in the Williston Basin for $1.5 billion.[3]

In 2016, the company acquired 55,000 net acres and 226 gross operated drilling locations in the Williston Basin from SM Energy for $785 million.[4]

In 2017, the company completed the corporate spin-off of its midstream operations.[5][6] The same year, Oasis Petroleum acquired 20,300 net acres in the Delaware Basin for $946 million.[7][8][9] It sold these assets in 2021.[10]

In September 2020, the company filed prematurely for Chapter 11 bankruptcy; it emerged from bankruptcy in November 2020.[11][12]

In July 2022, the company merged with Whiting Petroleum and was renamed Chord Energy.[13][14]

In February 2024, Chord Energy announced the acquisition of Canada's Enerplus for operations in the Williston Basin in North Dakota. The deal is valued at $11 billion.[15]

References

[edit]
  1. ^ a b c "Oasis Petroleum Inc. COMMON STOCK 42,000,000 shares". U.S. Securities and Exchange Commission. June 16, 2010.
  2. ^ "Oasis Petroleum prices IPO at $14/shr". Reuters. June 24, 2010.
  3. ^ "Oasis Petroleum adding to its Williston basin assets". Oil & Gas Journal. September 5, 2013.
  4. ^ Zborowski, Matt (October 18, 2016). "Oasis to buy Williston assets from SM Energy for $785 million". Oil & Gas Journal.
  5. ^ "Oasis Midstream Partners LP Launches Initial Public Offering" (Press release). PR Newswire. September 11, 2017.
  6. ^ Pulsinelli, Olivia (September 21, 2017). "Oasis Petroleum's MLP Oasis Midstream Partners prices IPO below expected range". American City Business Journals.
  7. ^ "Oasis Petroleum Announces Delaware Basin Acquisition and Provides Operational Updates" (Press release). PR Newswire. December 11, 2017.
  8. ^ Eaton, Collin (December 12, 2017). "Oasis Petroleum in $946 million deal for Delaware Basin land". Houston Chronicle.
  9. ^ Para, Jen (December 12, 2017). "Oasis Petroleum acquires Delaware Basin acreage for nearly $1B". American City Business Journals.
  10. ^ Jean, Renée (May 21, 2021). "Oasis Petroleum is selling its Permian Assets for half what it paid for them in 2017". Williston Herald.
  11. ^ "Oasis Petroleum Successfully Completes Financial Restructuring" (Press release). PR Newswire. November 19, 2020.
  12. ^ Jumchai, Stephen Cedric (November 19, 2020). "Oasis Petroleum emerges from Chapter 11 bankruptcy". S&P Global.
  13. ^ "Whiting and Oasis Complete Combination, Establishing Chord Energy" (Press release). PR Newswire. July 1, 2022.
  14. ^ Spencer, Starr (July 5, 2022). "Whiting, Oasis complete merger, renamed Chord Energy". S&P Global.
  15. ^ "Chord Energy, Enerplus to form $11 bln Williston-focused oil firm". Reuters. February 22, 2024.
[edit]
  • Official website
  • Business data for Chord Energy Corporation:
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