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Enerplus Achieves High-end Of Q4 Production Guidance - Quick Facts

Enerplus Corp. (ERF,ERF.TO) reported fourth-quarter production of approximately 97,800 BOE per day, including liquids of 54,400 barrels per day, at the high-end of its guidance range. Capital spending in the fourth quarter was $72.1 million.

The company expects to deliver average 2019 production of between 94,000 to 100,000 BOE per day, with crude oil and natural gas liquids production expected to average between 52,500 to 56,000 barrels per day. The company also announced capital budget of $565 to $635 million, for fiscal 2019.

Also, Enerplus announced a three-year outlook through 2021 focused on maximizing financial returns, competitive oil growth and enhancing free cash flow generation. Second-half weighted growth profile is projected in 2019 with annual liquids production growth of approximately 9% at the mid-point of guidance. Approximately 10% to 13% annual liquids production growth is projected in 2020 and 2021.

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