Markets

UPDATE: Enerplus Closes Purchase of Bakken Oil Assets in Montana, Sale of Manitoba Assetsl; Stocks Edge Up 1%

Enerplus Corporation (ERF.TO) has closed the acquisition of additional working interests in the Sleeping Giant area in the Elm Coulee field in Richland County, Montana for US$119 million including estimated closing adjustments.

This acquisition includes approximately 6.2 million BOE of proved plus probable reserves, incremental daily production of approximately 1,550 BOE/day, and consolidates our working interest to approximately 90% in these operated leases.

Total current production including the acquisition is approximately 7,300 BOE/day net to Enerplus.

ERF edged up by 1% to $13.13 but is trading near year low $11.53. Over 62,000 ERF shares have changed hands.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos