February 24, 2017
Enerplus 2016 Financial Summary
President and CEO Ian C. Dundas stated,"Enerplus delivered another strong performance in 2016 underpinned by consistent operational execution, top quartile capital efficiencies, and a continued focus on improving the financial strength of the business. Once again in 2016 the Company met or exceeded all of its financial and operating targets, including significantly strengthening the balance sheet having reduced net debt by $841 million, or 69%, over the course of the year. With the Company's lower cost structure and improving differentials in the Bakken and Marcellus, we have seen a step change in the cash flow generating capability and financial sustainability of the business."
"As we increase activity at our Fort Berhold operations in 2017, we expect to deliver meaningful production growth and strong economic returns, setting the foundation for a 20% compound annual liquids production growth rate over the coming three-year period."
November 14, 2016
Enerplus Q3 2016 Report
"Enerplus' third quarter results demonstrate our continued success in reducing the company’s cost structure and driving margin expansion," commented Ian C. Dundas, President & CEO. " Combined with our top quartile capital efficiencies and balance sheet strength, Enerplus is well positioned to reinitiate growth in 2017. Our preliminary 2017 capital budget of $400 million is largely focused on accelerating liquids production which is expected to grow approximately 15% on a Q4 2016 to Q4 2017 basis. Importantly, our capital plans are predicated on profitable and sustainable growth; we expect our capital spending and dividends to be approximately balanced with internally generated cash flow at WTI US$50 per barrel."
August 5, 2016
Enerplus Q2 2016 Report
"We have signficantly strengthened our balance sheet having reduced our debt, net of cash, by 45% sinc eyear-end 2015. In addition, we continue to drive costs lower as we position our company to deliver profitable growth in a lower commodity price environment," stated Ian C. Dundas, President & CEO. "Enerplus continues to perform at a high level operationally, adn with our lower cost structure and improved financial strength we are modeslty increasing our 2016 capital program in North Dakota as we position the Company for growth in 2017."
May 6, 2016
Enerplus Q1 2016 Report
"We continue to position our company to deliver long-term profitability in a lower commodity price environment. Our focus on reducing costs and driving efficiencies across the organization has resulted in a meaningful reduction to our cost structure. As a result, we are reducing our combined operating, transportation and G&A cost guidance by $1.30 per BOE in 2016," said Ian C. Dundas, President & CEO. "In addition, we have been delivering on our portfolio optimization objectives with non-core divestments generating net proceeds of $188 million in the first quarter, further strengthening our Company's balance sheet. Operationally, our assets continue to deliver strong results and we remain on track to achieve our targets."
February 19, 2016
2015 Financial Summary
"Despite the commodity price headwinds in 2015, we delivered an exceptionally strong year of operational performance, while maintaining our financial flexibility and continuing to improve the focus of our portfolio",said Ian C. Dundas, President and CEO of Enerplus."We continued to focus our capital program on our core position in North Dakota where we delivered 28% production growth during 2015 under a disciplined and paced development strategy. Our ongoing commitment to reducing our cost structure helped us realize operating and G&A costs below our targets and competitive F&D costs at $8.44 per BOE."
November 6, 2015
2015 Third Quarter Report
Enerplus delivered another quarter of strong operational performance. With the continued improvement in our capital efficiencies and the lowering of our cost structure, we are increasing our 2015 production guidance, while reducing our guidance for capital spending, operating and G&A costs. Looking ahead into 2016, our focus is on sustainability.
August 7, 2015
2015 Second Quarter Report
Through the second quarter of 2015, Enerplus continued to focus on operational execution under a disciplined capital program. We delivered production growth, improved cost performance and maintained a strong financial position.
May 8, 2015
2015 First Quarter Report
Our strong operational performance continued during the first quarter of 2015 as we focused on execution under a disciplined capital program. We met or exceeded all guidance targets and exited the quarter with a strong balance sheet.
February 20, 2015
2014 Fourth Quarter Results
Enerplus Corporation is pleased to announce our results for the fourth quarter of 2014 as well as full year 2014 operating, financial and reserves results. We are also updating our outlook for 2015 with regard to our spending plans and our strategy to preserve our financial strength and enhance the value of our portfolio in the current commodity price environment.
November 7, 2014
2014 Third Quarter Report
Through the third quarter of 2014, Enerplus continued to deliver consistent, strong operational and financial performance. Despite a decline in both crude oil and natural gas prices, both funds flow and production were maintained quarter over quarter. We also continued to execute on our non-core divestment strategy, successfully completing two transactions, further strengthening our financial position.
August 8, 2014
2014 Second Quarter Report
I am pleased to report that Enerplus delivered another quarter of strong operational and financial performance. We achieved record production of 104,000 BOE per day which is the highest level in our 28 year history. We grew production in each of our four core areas. In particular, our North Dakota production grew by 14% from the first quarter of 2014.
Daily production was up 5% quarter over quarter, and 15% higher than the same period one year ago. Liquids production grew by 6% quarter over quarter averaging 43,500 barrels per day driven by the significant growth in light oil from North Dakota. The Marcellus also continued to outperform increasing our total natural gas volumes quarter over quarter.
May 09, 2014
2014 First Quarter Results
The first quarter of 2014 saw a continued focus on operational execution under a disciplined capital program. I am pleased to report that this focus delivered another quarter of production and funds flow growth for investors.
Production volumes grew by 5% in the first quarter compared to the fourth quarter of 2013, averaging 98,821 BOE per day. This increase was attributable to record production once again from the Marcellus, which averaged nearly 180 MMcf per day.
While our crude oil volumes were maintained quarter over quarter, adverse weather conditions caused production interruptions in both our Canadian and U.S. operations and slowed capital spending activities in our oil properties. We expect that our crude oil production will grow throughout 2014, achieving our guidance expectations as we move through the year. We are maintaining our annual average production guidance at 96,000 BOE per day to 100,000 BOE per day, however we expect to track towards the high end of the range due to the outperformance in the Marcellus. As a result, our natural gas weighting is expected to increase to 56% of total volumes.
Apr 04, 2014
2013 Information Circular
NOTICE OF ANNUAL MEETING AND INFORMATION CIRCULAR AND PROXY STATEMENT
With Respect to the Annual Meeting of Shareholders to be held on Friday, May 9, 2014
2013 was an exciting year for Enerplus as we delivered on our strategy of improving our focus and achieving profitable, sustainable growth. We executed our business plan throughout the year, consistently meeting or exceeding our operating and financial targets. We set the stage for future growth with strong reserve additions. We also increased our funds flow by 17 per cent to $754 million ($3.76/share). Through share price appreciation and the monthly dividend, our Canadian shareholders were rewarded with a total return of 58 per cent, while our U.S. shareholders were rewarded with a 48 per cent return.
Jan 30, 2014
2013 Financial Summary
In 2013, we consistently met or exceeded our guidance targets while delivering sustainable, profitable growth to our investors.
Sep 30, 2013
2013 Third Quarter Results
As a result of strong operational performance from our core areas in both Canada and the U.S., I’m pleased to report that we continue to deliver profitable growth within a disciplined capital spending program. Daily production during the third quarter averaged just under 88,000 BOE/day, up 8% from the same period last year. Production from our North Dakota assets continues to outperform our expectations and increased by almost 20% during the quarter to a new record level of 18,000 BOE/day, achieving our 2013 exit forecast for these properties one full quarter head of expectations. Year-to-date, production has averaged 88,318 BOE/day, up 9% from the same period a year ago in spite of divestments earlier in the year, and ahead of our guidance.
Jun 30, 2013
2013 Second Quarter Results
During the second quarter of 2013, our operations in both Canada and the U.S. continued to perform ahead of our expectations. Daily production was up 10% over the second quarter of 2012 and 3% higher than the first quarter of 2013, averaging 90,037 BOE/day. The most significant increases were in our natural gas assets in both Canada and the U.S. as a result of successful drilling activity in the Wilrich and continued strong performance in the Marcellus. For the first six months of 2013, daily production has averaged 88,618 BOE/day, significantly head of our expectations.
Mar 31, 2013
2013 First Quarter Results
I am pleased to report that strong results for the first quarter of 2013 have positioned us well to achieve all of our operational targets this year. Our portfolio of core assets in Canada and the U.S. continued to deliver profitable, organic growth. With strong base performance across our portfolio and the successful execution of our capital plans we achieved average production of 7,183 BOE per day during the quarter. This growth was in part driven by record production levels from our assets at Fort Berthold, North Dakota and the Marcellus region in Pennsylvania. Most notably, our Marcellus production increased significantly, averaging 79 MMcf per day, up from 57 MMcf/day during the fourth quarter as a result of strong well performance and increased tie-in activity late in 2012.