Enerplus Recaps 2013
Link here.
- Production grew by 9%, exceeding guidance in spite of non-core asset sales
- Proved plus probable reserves were up 17% year-over-year, replacing 284% of 2013 production
- Capital spending came in
slightly lower than our forecast of $685 million, totaling $681 million.
Approximately 70% of our spending was directed to our crude oil assets
with the majority invested at Fort Berthold, North Dakota. We invested
82% of our budget on drilling and completion activities, with 62 net
wells drilled and brought on-stream across our asset base.
- We continued to concentrate our
portfolio throughout 2013. We sold $365 million of non-core assets,
redeploying $245 million to increase our working interests in our crude
oil waterflood portfolio and in the Marcellus. This also includes
additional acreage acquired in the Wilrich, Marcellus and Bakken/Three
Forks plays. Our net acquisition and divestment activities realized
gross proceeds of $120 million in 2013.
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