Enerplus Corp. (ERF.TO, ERF) reported a first-quarter net loss of C$5.24 million or C$0.03 per share, compared to a loss of C$33.82 million or C$0.18 per share last year. The company said non-cash mark-to-market losses on commodity derivatives as a result of higher forecast commodity prices at quarter end negatively impacted earnings.
Funds Flow increased to C$172.60 million or C$0.87 per share from C$162.71 million or C$0.86 per share last year.
The company said it achieved average production of 87,183 BOE per day during the quarter. The growth was in part driven by record production levels from the Marcellus and Fort Berthold assets in North Dakota.
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