CALGARY, AB – Enerplus Corporation (“Enerplus” or the “Company”) (TSX: ERF) (NYSE: ERF) announced today that it has closed the previously announced sale of its Sleeping Giant (Montana) and Russian Creek (North Dakota) interests in the Williston Basin for total consideration of US$115 million, before customary closing adjustments. In addition, Enerplus will receive up to US$5 million in contingent payments if the WTI oil price averages over US$65 per barrel in 2022 and over US$60 per barrel in 2023.
Enerplus’ working interest(1) production from the divested interests averaged approximately 3,000 BOE per day (77% crude oil and natural gas liquids) in the second quarter of 2021.
Footnote:
(1) Production is stated on a working interest basis before deduction of royalties.
About Enerplus
Enerplus is an independent North American oil and gas exploration and production company focused on creating long-term value for its shareholders through a disciplined, returns-based capital allocation strategy and a commitment to safe, responsible operations. For more information, visit the Company’s website at www.enerplus.com.