Bakken Brew­ing

Alberta Oil - - OBSERVER NEWS NUMBERS PEOPLE PLACES -

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.

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