Enerplus Announces Acquisition of Bakken Interests in Montana for $131M

Enerplus Corporation ERF announces guidance for 2013 and the acquisition of additional low decline, light oil interests in Montana. Acquisition of Bakken Interests in Montana Consistent with our strategy of consolidating core positions within our portfolio, Enerplus has agreed to enter into an agreement to acquire an additional 20% working interest in our operated leases in the Sleeping Giant area in the Elm Coulee field in Richland County, Montana for approximately US$131 million (approximately US$121 million after estimated closing adjustments of US$10 million). By investing approximately half of the proceeds from the sale of our Manitoba assets, we expect to replace the sold production, improve the concentration of our asset base and improve our operating metrics. The acquisition is complementary to our existing operations in Sleeping Giant where we currently own an operated 70% See full press release