Enerplus Corp presents at EnerCom’s The Oil & Gas Conference®
Enerplus Corp (ticker: ERF) is a developer of crude oil and natural gas assets in Canada and the United States. Enerplus Corporation trades on both the Toronto Stock Exchange and the New York Stock Exchange (TO: ERF), and (NYSE: ERF).
Q2 highlights
- Company production of 92,883 BOE per day in the second quarter
- Company liquids production was up 21% quarter-over-quarter, averaging 50,050 barrels per day, achieving the high end of second quarter guidance of 48,000 to 50,000 barrels per day
- 33% production growth in North Dakota quarter-over-quarter
- Increasing 2018 annual production guidance to 91,000 to 93,000 BOE per day, from 86,000 to 91,000 BOE per day
- Revising 2018 annual liquids production guidance to the upper-end of the range, now 49,000 to 50,000 barrels per day, from 46,000 to 50,000 barrels per day
- 2018 capital spending guidance tightened to $585 million (from $535 to $585 million previously) largely related to increased non-operated activity
- Generated adjusted funds flow of $173.7 million during the second quarter
- 2018 adjusted funds flow expected to exceed capital expenditures and dividends by over $100 million based on current forward strip pricing
- Reducing cash G&A guidance by $0.10 per BOE to $1.55 per BOE
- Balance sheet remains among the strongest in the peer group with a net debt to adjusted funds flow ratio of 0.5 times
Breakout session at the EnerCom conference
During Enerplus Corp’s breakout session at the 2018 EnerCom conference, management was asked the following questions:
- How do you intend to enhance your completion design?
- What is the likelihood that you add inventories outside of your two assets?
- Geographically in the Bakken, can you reproduce the results you’ve seen previously?
- With the coming tribal elections, is there any impact on your operations?
- Can you elaborate on your opportunities in the DJ? Are there any expansion efforts around there?
You can listen to Enerplus Corp’s presentation here.
