Enerplus: Debt Reduction Ahead Of Schedule

Summary

  • Enerplus sold low-decline Williston Basin assets for $115 million USD (plus up to $5 million USD in contingent payments).
  • It appears capable of reducing net debt to near $500 million by the end of Q1 2022.
  • Enerplus has identified around 18 years of Williston Basin drilling inventory at 2021 development pace.
  • It may be able to eliminate its net debt by early 2023 at current strip prices.
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the concept of drilling geological exploration wells for oil. Collect and analyze the obtained data using artificial intelligence and reduce drilling costs

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Enerplus' (ERF) debt reduction plans appear to be ahead of schedule after its Williston Basin divestiture combined with improvements in strip prices. This should allow Enerplus to reduce its net debt to a

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This article was written by

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Aaron Chow, aka Elephant Analytics has 15+ years of analytical experience and is a top rated analyst on TipRanks. Aaron previously co-founded a mobile gaming company (Absolute Games) that was acquired by PENN Entertainment. He used his analytical and modeling skills to design the in-game economic models for two mobile apps with over 30 million in combined installs. He is the author of the investing group Distressed Value Investing, which focuses on both value opportunities and distressed plays, with a significant focus on the energy sector. Learn more>>

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