Bullboard - Stock Discussion Forum 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... see more

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Enerplus Corp > Share Repurchase

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Post by MyHoneyPot on Dec 04, 2021 12:54am

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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