Enerplus Corp T.ERF

Energy Oil & Gas E&P

Enerplus Corporation is a Canada-based independent oil and gas exploration and production company. The Company is focused on the development of North American oil and natural gas assets. Its portfolio includes light oil assets in the Bakken, North Dakota, and a position in the Marcellus natural gas shale region in northeast Pennsylvania. The Company's operations are concentrated in the core of the Bakken/Three Forks light oil shale play where it holds approximately 235,600 net acres in North Dakota. The acreage is primarily located across the Fort Berthold Indian Reservation, as well as in Williams and Dunn Counties. It holds an interest in approximately 32,500 net acres in the dry gas window of the Marcellus shale in northeast Pennsylvania. This non-operated position is located in Susquehanna, Bradford, Wyoming, Sullivan and Lycoming counties.

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Enerplus Corp

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Post by MyHoneyPoton Dec 04, 2021 12:54am

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Post# 34197836

Share Repurchase

Share Repurchase Progress

CALGARY, AB, Dec. 1, 2021 /CNW/ - Enerplus Corporation ("Enerplus" or the "Company") (TSX: ERF) (NYSE: ERF) announced today that it had repurchased 8.4 million shares for $107 million under its normal course issuer bid ("NCIB") during November.

The Company remains committed to executing its $200 million share repurchase program (announced on November 4, 2021) by the end of the first quarter of 2022. Share repurchases are expected to be funded out of fourth quarter 2021 and first quarter 2022 free cash flow, representing approximately 55% of forecasted free cash flow over this period based on current forward strip commodity prices.

Since commencing share repurchases under its NCIB in August 2021, Enerplus has repurchased 10.4 million shares at an average share price of $11.92, representing approximately 4% of its outstanding shares.

IMHO

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