Canadian Manufacturing

Enerplus sells off certain non-core Alberta energy assets for $95.5M

Firm will use funds to pay down debt, repurchase unsecured notes

April 12, 2016  by Canadian Staff

CALGARY—Enerplus Corp. is selling off a number of non-core Alberta energy assets, including its interest the Pouce Coupe site in the Northwest part of the province.

The company will raise $95.5 million from the sale, using the funds to pay down its outstanding debt and repurchase some of its senior unsecured notes. Enerplus did not disclose the buyer.

The Calgary-based energy firm said the divestment will raise its total 2016 asset sales to $288.5 million. Despite the sales, however, the company says it is maintaining its production guidance for the year. The company expects to produce between 90,000 to 94,000 barrels of oil equivalent per day in 2016.

The sale of the Alberta energy assets is expected to close in the second quarter of this year.


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