CALGARY, Jan. 5, 2012 /CNW/ - Enerplus Corporation ("Enerplus") (TSX:
ERF) (NYSE: ERF) is pleased to announce we have achieved our exit
production forecast for 2011 averaging approximately 82,000 BOE/day
during the last two weeks of December.
Throughout the fourth quarter of 2011, Enerplus continued to see
significant success from our drilling, completions and optimization
activities executed in both Canada and the U.S. Our Bakken/tight oil
resource play has achieved significant production increases throughout
2011, from 13,500 BOE/day at the start of the year, to 17,000 BOE/day
as we exited with the majority of this increase coming from the Fort
Berthold region. Our Marcellus production continued to grow through the
year to 25 MMcf/day as we exited 2011. This was despite the sale of
approximately 6.5 MMcf/day of natural gas that occurred in mid-2011 as
part of a strategic rationalization of a portion of our interests
realizing gross proceeds of approximately $570 million. Subsequent to
the sale, we continue to hold a significant operated and non-operated
lease position of 110,000 acres.
In Canada, we continue to be pleased with not only the stability of our
base production performance but also with the results of our recent
drilling activities. Daily production averaged over 61,000 BOE/day as
we exited 2011, ahead of our expectations. Based upon the timing of the
build in production volumes throughout 2011, we estimate that Enerplus'
total annual production will have averaged between 75,000 - 76,000
BOE/day for 2011. Detailed information on our plans for 2012 will be
released in the coming weeks.
For further information, please call 1-800-319-6462 or e-mail firstname.lastname@example.org.
Gordon J. Kerr
President & Chief Executive Officer
Except for the historical and present factual information contained
herein, the matters set forth in this news release, including words
such as "expects", "projects", "plans" and similar expressions, are
forward-looking information that represents management of Enerplus'
internal projections, expectations or beliefs concerning, among other
things, future operating results and various components thereof or the
economic performance of Enerplus. The projections, estimates and
beliefs contained in such forward-looking statements necessarily
involve known and unknown risks and uncertainties, which may cause
Enerplus' actual performance and financial results in future periods to
differ materially from any projections of future performance or results
expressed or implied by such forward-looking statements. These risks
and uncertainties include, among other things, those described in
Enerplus' filings with the Canadian and U.S. securities authorities.
Accordingly, holders of Enerplus shares and potential investors are
cautioned that events or circumstances could cause results to differ
materially from those predicted.
SOURCE Enerplus Corporation
For further information:
please call 1-800-319-6462 or e-mail email@example.com.