Enerplus selling non-core assets in northwest Alberta for $95.5M in cash

CALGARY – Enerplus Corp. (TSX:ERF) says it has an agreement to sell some non-core assets in northwest Alberta, including its Pouce Coupe asset, for about $95.5 million in cash.

The deal, subject to closing adjustments, is expected to be completed in the second quarter.

Enerplus says it is using its 2016 divestment proceeds, which will total $288.5 million upon the closing of this latest deal, to reduce outstanding debt, including repurchasing a portion of its senior unsecured notes.

Enerplus says it is maintaining its 2016 production guidance range of 90,000 to 94,000 barrels of oil equivalent per day despite the divestment as a result of continued strong operational performance.