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Enerplus Corp T.ERF

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.


TSX:ERF - Post by User

Post by retiredcfon Apr 03, 2024 7:45am
259 Views
Post# 35967030

Eric Nuttall

Eric Nuttall
It appears that he would hang onto ERF for two reasons - the rising price of oil and gas and his view that CHRD should continue to perform well.  He previously held CHRD but doesn't anymore, likely because he's about to become a signifcant shareholder through his stake in ERF which I assume his still owns given that it was one of his recent top picks. GLTA

COMMENT
Enerplus Corp(ERF-T)
02/04/2024
 
Never sell because a stock hits a 52-week high, but only based on risk/reward. ERF is being bought by a North Dakota producer, Chord Energy Management and have done a great job. They struggled after selling their Canadian assets and held onto their North Dakota Marcellus assets. 
Oil / Gas

Eric Nuttall
$26.860
Unknown
 
BUY
Chord Energy Corp(CHRD-Q)
02/04/2024
 
ERF is being bought by a North Dakota producer, Chord Energy Management. He's bullish oil. Using an $80 per barrel baseline, CHRD next year (after they absorb Enerplus) should trade at 3.4x cash flow and 14% free cash flow yield (vs. most names at 7-8%). At a 5x multiple next year, CHRD would trade at $253 price target or 42% upside.
Energy

Eric Nuttall
$178.730
No
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