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CALGARY, AB – Enerplus Corporation (“Enerplus” or the “Company”) (TSX & NYSE: ERF ) today announced that it has entered into a definitive agreement to acquire all of the shares of Bruin E&P HoldCo, LLC (“Bruin”), a pure play Williston Basin private company, for total cash consideration of US$465 million (the “Acquisition”). Enerplus Bruin Williston Basin Map (CNW Group/Enerplus Corporation) KEY HIGHLIGHTS Core area acquisition improving scale – Acquiring 151,000 net acres in the Williston Basin, including 30,000 net acres contiguous with Enerplus’ tier 1 acreage position. The acquisition includes approximately 24,000 BOE per day of existing production (working interest (1) ), 84 MMBOE of proved plus probable reserves (working interest (1) ), and an inventory of 149 (111 net) drilling locations (including drilled uncompleted wells). After the Acquisition, Enerplus estimates it will hold more than a decade of drilling inventory capable of sustaining production at 2021 levels, with additional drilling inventory upside on Bruin’s acreage if commodity prices strengthen. Immediately accretive to per share metrics – Expected to be materially accretive to per share metrics in the first year, including adjusted funds flow and free cash flow. Accretion to adjusted funds flow per share and free cash flow […]
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