En­er­plus Q3 profit up from year ago

The Niagara Falls Review - - Business -

CAL­GARY — En­er­plus Corp. re­ported a third-quar­ter profit of $86.9 mil­lion, up from $16.1 mil­lion a year ago, boosted by higher en­ergy prices and in­creased pro­duc­tion. The oil and gas pro­ducer says its profit amounted to 35 cents per di­luted share for the three months ended Sept. 30, up from seven cents per di­luted share a year ago. Oil and nat­u­ral gas sales amounted to $373.6 mil­lion, up from $196.1 mil­lion in the same quar­ter last year. To­tal pro­duc­tion for the quar­ter av­er­aged 96,861 bar­rels of oil equiv­a­lent per day, up 79,128 boepd in the third quar­ter of 2017.The com­pany re­ported an av­er­age sell­ing price of $52.32 per bar­rel of oil equiv­a­lent, up from $33.23 a year ago. In its out­look, En­er­plus raised the lower end of its pro­duc­tion guid­ance for 2018 to be­tween 92,500 and 93,000 boepd, com­pared with its ear­lier ex­pec­ta­tion for pro­duc­tion be­tween 91,000 and 93,000 boepd.

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