Canadian energy firm Enerplus admitted that it missed out on its revenue targets for the first quarter of 2024. 

In the company's news release Wednesday (May 8), it reported a $66.1 million profit, or $0.32 per share, around half of its performance during the same period last year at $137.5 million ($0.63 per share). 

According to figures compiled by Thomson Reuters and cited by RTTNews, Enerplus's quarterly revenue fell from $441.2 million last year to this year's $359.3 million, an 18.6% decrease.

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Enerplus Acquired by Chord Energy

Last February, US-based firm Chord Energy announced that it has acquired Enerplus in an $11 billion stock and cash merger deal. 

MarketWatch quoted Chord CEO Danny Brown when he said that that the two firms agreed on the merger to establish a prime position in North Dakota's Williston shale basin. 

Chord, itself a merger of Oasis Petroleum and Whiting Petroleum back in 2022, operates in oil basins in South Dakota and Montana in the United States and in several fields in neighboring Canadian provinces.

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