Yes The phrase is grammatically correct and sounds natural. It clearly conveys the idea that you and your friend have resolved your differences after a significant time apart. You could also say : 1. "My friend and I reconciled after a long period of conflict."** 2. "After a lengthy disagreement, my friend and I found common ground." 3. "My friend and I buried the hatchet after a long time of disagreement." 4. "After a protracted disagreement, my friend and I made amends." 5. "My friend and I restored our friendship after a long disagreement."

это неплохо

Is it correct and does it sound natural?