TSX:ERF - Post Discussion
Post by
retiredcf on Dec 20, 2022 9:01am
RBC
December 19, 2022
Enerplus Corporation
Announces Closing of the Sale of Remaining Canadian Assets
NYSE: ERF | USD 16.36 | Outperform | Price Target USD 21.00
Sentiment: Neutral
Enerplus announced today that it has closed the previously announced sale of substantially all of its remaining Canadian assets to Surge Energy for a total consideration of C$245 million.
Key Details:
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Production from the assets is approximately 3,000 boe/d (99% crude oil) on a net basis after the deduction of royalties (4,000 boe/d before royalty deductions).
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On a flowing net (after royalties) barrel basis, the C$245 million disposition price and 3,000 boe/d of production would equate to roughly C$81,667/boe/d.
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The C$245 million ($180 million) consideration comprises C$210 million of cash and C$35 million in common shares of Surge Energy.
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This transaction follows Enerplus’ announcement to sell certain Canadian assets to Journey Energy, announced on July 28.
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