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.
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