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Enerplus Corporation Message Board

  • patient_lt_investor patient_lt_investor Aug 8, 2014 8:48 AM Flag

    ERF: Great Quarter, Record Production

    Enerplus Achieves Record Production During the Second Quarter of 2014 and Increases Annual Production Guidance:

    •Enerplus achieved record production of approximately 104,000 BOE per day in the second quarter of 2014, the highest level in our 28 year history. Daily production was up 5% quarter over quarter, and 15% higher than the same period one year ago.

    •Total 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.

    •As a result of continued operational outperformance, we are increasing our annual average production guidance for 2014 by 4,000 BOE per day to 100,000 BOE per day to 104,000 BOE per day. We continue to expect liquids production to grow throughout the remainder of the year and to average approximately 44,000 barrels per day in 2014. Natural gas production is expected to continue to grow ahead of expectations due to the performance in the Marcellus.

    •The new, higher production guidance assumes the sale of 2,500 to 3,500 BOE per day of gas weighted production from non-core properties in Canada that we expect to close in the fourth quarter.

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    • Paulson and The Vanguard consortium are on the prowl for Bakken Assets ~ The just took out Kodiak to merge it with Whiting (WLL) ~ It appears that OAS could be next in line as Paulsen has a big stake there as well ~ I sure as Heck hope that ERF will run on its own accord and get to $30 before someone comes knocking ~ These recent deals don't seem to be paying much of a premium to shareholders ~ Nice Q no doubt ~ GLTA!

 
ERF
6.02-0.01(-0.17%)Aug 4 4:02 PMEDT