Enerplus Q1 2023 Update
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Sustainable five-year outlook: 2023 2027
Production (Mboe/d)(1)
120
100
80
60
40
40
20
20
57
44
0
2022
Bakken
enerPLUS
OUTLOOK 2023 - 2027 based on $80 WTI & $4.00 NYMEX (3
$ Approximately $500-$550mm annual capital spending
EFFICIENT OPERATING PLAN
3-5% annual liquids production growth
MAINTAINS SUSTAINABLE BASE PRODUCTION DECLINE RATE
59
2023
Approximately 50% average reinvestment rate
COMPETITIVE FREE CASH FLOW DELIVERY
>10 years of drilling inventory
UNDERPINNED BY HIGH RETURNING BAKKEN DRILLING LOCATIONS
2024
2025
2026
Marcellus
Liquids production (mb/d)(1)(2)
1) 2022 production shown in chart and annual liquids production of 57 mb/d excludes production from the Canadian assets which were sold in Q4 2022. Bakken production on chart includes volumes from the DJ Basin.
2) 2023 production of 59 mb/d represents the guidance midpoint.
3) 2023 is based on $80 WTI & $3.00 NYMEX.
2027
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