Enerplus reports increase in contingent resource estimate, drilling inventory

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

Enerplus (ERF +1%) a reaches 52-week high after reporting a 250% increase in contingent resources to 136M boe at June 1 from 38M boe at Dec. 31, largely due to a 50% increase in its estimate of original oil in place which includes contributions from the Bakken and Three Forks formations.

The result of the revised contingent resource assessment, ERF says its estimate of future drilling locations is more than 125% higher and now estimates ~330 future net drilling locations, up from 145 previously.