Enerplus Sells Non-Core Assets in Canada for $80M, Maintains Production Guidance

Enerplus Corporation

is pleased to announce that we have entered into agreements to sell various non-core assets in Canada for gross proceeds of approximately $80 million in order to further improve the focus and concentration within our portfolio. These assets consist primarily of non-operated properties producing approximately 1,000 BOE/day, of which roughly 90% is weighted to crude oil and natural gas liquids. The properties are being sold to multiple parties and we anticipate closings to occur during the third quarter of 2013. In addition to these sales, we have also acquired an incremental 50% working interest in the Pouce Coupe South Boundary B Unit #1 for approximately $30 million. Enerplus is currently the operator of this property and now has an approximate 100% working interest. The additional acquired interests in this light oil waterflood property produce approximately 375 BOE/day and have a low historical decline rate of roughly 5%.  The property has an average netback of approximately $50/BOE.