Enerplus exceeds 2013 production guidance, has record reserve replacement

|About: Enerplus Corporation (ERF)|By:, SA News Editor

Enerplus (ERF) says 2013 production grew by more than 9% Y/Y to average 89.8K boe/day, ahead of the company's expectations of 89K boe/day.

Q4 production averaged 94.2K boe/day; due to continued outperformance in the Marcellus shale, natural gas weighting increased to 56% during the quarter.

Proved plus probable company interest reserves grew by ~17% to 406M boe, and added a total of 93M boe of 2P reserves, replacing 284% of production in 2013; 83% of reserve additions were from natural gas.