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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

TSX:ERF - Post Discussion

Enerplus Corp > RBC
View:
Post by retiredcf on Apr 20, 2023 8:32am

RBC

April 19, 2023

Enerplus Corporation
1Q Preview—Our Favorite Intermediate Producer

NYSE: ERF | USD 14.95 | Outperform | Price Target USD 20.00

Sentiment: Neutral

Enerplus will report its first-quarter results on Thursday, May 4, after market close.

Conference Call

• Time: 11:00 am ET, Friday, May 5
• Dial-in: (888) 390-0546 (Conference ID: 00849157) • Replay: (888) 390-0541 (Passcode: 849157 #)

1Q Preview

RBC is in-line with Street consensus on FFO/share and production volumes, while modestly above on capital spending.

Observations

• Our first-quarter production estimates include (entirely) US oil & liquids production of 55,000 bbl/d and 235 mmcf/d of natural gas production.

  • In the context of $76.13/bbl WTI and $2.67/mmBtu Henry Hub, we forecast the company’s first-quarter oil & liquids realizations at $68/bbl, with natural gas realizations of $1.92/mcf.

  • We peg Enerplus’ first-quarter share repurchases at $40 million.

  • Also included in our outlook is first-quarter capital spending of $150 million, $11 million in cash taxes, and realized hedging

    gains of $44 million.

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Enerplus Corp