Market Updates
Oasis Petroleum and Whiting Petroleum Complete $6 Billion Merger
Scott Peters
06 Jul, 2022
New York City
Chord Energy Corporation dropped 5.6% to $96.58 after the newly named company completed the merger between Whiting Petroleum and Oasis Petroleum.
The newly merged company under the new symbol CHRD began trading on July 5.
The merged company also lifted its second quarter energy production to increase 18% from 9% using the three stream production assumption.
Whiting and Oasis announced a $6 billion merger on March 7.
The combined company is expected to produce equivalent of at least 156 4 million of barrels a day and spend about !65 million in capital expenditure in the fiscal year 2022.
Danny Brown, previous chief executive officer of Oasis is appointed president & chief executive officer of Chord Energy.
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