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.