By January 12, 2016 Read More →

Enerplus to sell some of its Alberta natural gas property for $198M

Enerplus properties were projected to produce about 5,400 BOE per day in 2016


Along with the sale announced on Tuesdya, Enerplus sold a small portion of its interests in North Dakota in the fourth quarter of 2015.  Bakken Oil Report photo.

CALGARY _ Enerplus Corp. (TSX:ERF) is selling some of its Alberta natural gas assets for about $193 million.

The Calgary-based company says the properties were projected to contribute the equivalent of 5,400 barrels per day of production in 2016, almost all in the form of natural gas.

In the first nine months of 2015, Enerplus produced an average of 110,800 barrels per day, with about 45 per cent of it from crude oil and natural gas liquids.

In the fourth quarter, the completed the sale of a small portion of its interests in North Dakota for about $80 million.

The Alberta properties in the latest divestment are being sold in two separate transactions but the buyers weren’t identified in the Enerplus announcement.  The divested assets, which are largely located around the Ansell, Minehead and HanlanRobb areas, consist of operated and non-operated properties and facilities.

The company says it plans to release its 2015 year-end results on Feb. 19 and will provide an updated guidance for 2016 by then.

The Canadian Press

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