Enerplus Board Approves 2013 Capital Spending Program; Acquires Additional Bakken Interests

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Enerplus Corporation ( ERF ) has agreed to enter into an agreement to acquire an additional 20% working interest in its operated leases in the Sleeping Giant area in the Elm Coulee field in Richland County, Montana for approximately US$131 million.

The company's Board of Directors has also approved a capital spending program for 2013. It is targeting a capital program of $685 million, 20% lower than its estimated spending in 2012.

The company is expecting exit production in 2013 to range between 84,000 and 88,000 BOE/day and average daily production of 82,000 to 85,000 BOE/day.

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This article appears in: Investing , Commodities


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