Enerplus Corp to sell $193 million in Alberta assets

The Calgary-based oil and gas company says the properties were projected to generate 5,400 barrels per day in 2016, almost all in the form of natural gas.

Properties were projected to contribute 5,400 barrels a day in 2016, nearly all in natural gas

Calgary-based Enerplus Corp will sell $193 million in Alberta assets, primarily in natural gas properties. (Getty Images)

Enerplus Corporation will sell some of its Alberta natural gas properties for about $193 million. 

The Calgary-based company says the assets were projected to contribute the equivalent of 5,400 barrels per day of production in 2016, almost all in the form of natural gas.

The divested assets are largely located around the Ansell, Minehead and Hanlan-Robb areas and consist of operated and non-operated properties and facilities.

The Deep Basin region holds over 140,000 net acres of high working interest lands and is Enerplus' main focus area for natural gas in Canada. (Enerplus Corp.)

In the first nine months of 2015, Enerplus produced an average of 110,800 barrels per day, with about 45 per cent of it coming from crude oil and natural gas liquids.

In the fourth quarter, the company completed the sale of a small portion of its interests in North Dakota for about $80 million.

The Alberta properties in the latest divestment are being sold in two separate transactions. The buyers were not identified in the Enerplus announcement.

Enerplus plans to release its 2015 year-end results on Feb. 19 and will provide an updated guidance for 2016 by then.


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