ERF: Enerplus Corporation Instablogs

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Thursday, February 7, 3:23 PM Barclays analysts downplay the impact of the safety notice on offshore drillers ordering inspection of subsea equipment on some Gulf of Mexico drilling rigs for faulty bolts. "While this event poses additional downtime risk for these drillers, we believe the downtime would be limited and can be often mitigated through the course of normal operations," the firm says. 7 Comments [Energy]
Wednesday, February 6, 3:17 PM Shares of oil and gas drillers slide to session lows following a Bloomberg report that drilling regulators had directed offshore operators to halt work on some oil and gas wells in the Gulf of Mexico after discovering faulty bolts on equipment used to prevent blowouts. Replacing all bolts on blowout preventers could cost millions, Rowan (RDC) CEO Matt Ralls says. 12 Comments [Energy]
Friday, November 9, 2012, 11:53 AM Enerplus (ERF -12.1%) shares sink after the Canadian oil and gas producer reports a Q3 loss due to certain asset impairments and says it expects growth to slow down next year as it cuts 2013 capital spending by 20%. ERF, which has crude oil assets in the Bakken and Three Forks fields in North Dakota, also cuts its average production forecast for 2012 by 2% to 82K boe/day. 5 Comments [Energy, Earnings, On the Move]
Tuesday, August 21, 2012, 9:38 AM Enerplus (ERF +4.6%) agrees to sell its equity stake in Laricina Energy, a private Canadian company focused on oil-sands development, for C$141M. ERF says it will use the proceeds to repay bank debt. Raymond James upgrades the stock to Outperform. Comment! [Energy, On the Move]
Friday, August 10, 2012, 10:39 AM Enerplus (ERF -0.7%) says its Q2 profit was cut in half on weak natural gas and oil prices, and it expects capex for the year to rise as it looks to boost production at the Fort Berthold oilfield in North Dakota. ERF, which says oil and liquids now represent nearly half its production volumes, expects to spend ~C$850M this year, up from C$800M forecast earlier. Comment! [Energy]
Wednesday, July 11, 2012, 11:18 AM Enerplus (ERF +4.7%) bounces after receiving an upgrade to Outperform from Credit Suisse, The firm is lowering its estimates for the Canadian oil and gas producer on account of falling prices, but its PT of $21 is 63% above current levels. Enerplus has had a rough 2012. Comment! [Energy, On the Move]
Tuesday, January 17, 2012, 6:13 PM Canadian oil & gas producer Enerplus (ERF) falls 1.6% AH after announcing a 12.79M share stock offering, good for proceeds of $303M based on today's close. Enerplus says it will use the proceeds to help finance its 2012 capex, which includes $800M worth of spending on exploration & development projects. Comment! [Energy, On the Move]
Thursday, December 29, 2011, 11:37 AM The oil and gas boom in North Dakota and other states is providing the springboard for Canadian services companies like Precision Drilling (PDS) to expand into the U.S. It's also drawing oil producers like Baytex (BTE) and Enerplus (ERF) who find land in the Bakken shale cheaper than their hunting grounds back home. 1 Comment [U.S. Economy, Energy, Quick Ideas]

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