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 > RBC

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Post by retiredcf on Aug 16, 2023 9:21am

RBC

August 15, 2023

Enerplus Corporation Announces NCIB Renewal

NYSE: ERF | USD 16.50 | Outperform | Price Target USD 19.00

Sentiment: Neutral

Enerplus announced today the acceptance of its notice to commence a Normal Course Issuer Bid (NCIB) by the TSX to purchase up to 10% (20.97 million common shares) of its public float as of August 9, 2023.

Key Details:

• Under the NCIB, Enerplus is authorized to make purchases during the 12-month period from August 17, 2023 to August 16, 2024 or until such earlier time if the issuer bid is completed or terminated by the company.

• As highlighted in Enerplus’ second-quarter results, the company is committed to returning at least 60% of its second-half free cash flow to shareholders with an accent on share repurchases, which should result in over 70% of full-year 2023 free cash flow returned.

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