A strong showing in the Bakken in 2015 drove Enerplus’s third-quarter crude output up 20 per cent over the previous quarter, and drove its crude and natural gas liquids production up eight per cent to 50,000 barrels per day (bpd). To maintain that momentum, Enerplus announced it would sell some of its non-operated North Dakota properties for US$80 million to invest in the acreage it does operate. Its assets include low-decline water-flood oil fields in Alberta and Saskatchewan. These three regions, plus shale gas investments in the Marcellus, are the main work horses in the Enerplus stable, yielding 90 per cent of the company’s total production.
The firm also has a growing undeveloped land position in the liquids-rich Deep Basin along the Alberta-B.C. border.
Enerplus invested in more than just its land assets in 2015, gaining a new CFO in Jodi Jenson Labrie who rose through the ranks from VP Finance in 2013.