Enerplus Q1 2023 Update
Enerplus overview
enerPLUS
Differentiated Bakken drilling inventory
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Over a decade of high-quality inventory
■ Attractive free cash flow generation
16% free cash flow yield (1)
■ Competitive return of capital to shareholders
At least 60% of 2023 free cash flow
■ Low financial leverage
0.1x net debt to adjusted funds flow ratio (¹) (at Mar 31, 2023)
BAKKEN
NORTH DAKOTA
Dual listed: TSX & NYSE
Market capitalization: US$3.0 billion
MARCELLUS
NE PENNSYLVANIA
2023e production: -95,500 BOE/d (62% liquids)
Production by area and product(2)
■ Oil ■NGL ■Natural gas
Bakken
65 MBOE/d
Marcellus
28 MBOE/d
Net operating income by area (2)
Bakken
Marcellus
$1,240 Million
$300 Million
3
1) See Non-GAAP & Other Financial Measures in "Advisories". 2023 free cash flow yield is based on $80 WTI and $3.00 NYMEX. Yield is calculated as annual 2023 free cash flow divided by Enerplus' market capitalization on May 2, 2023.
2) Charts reflect 2022 production and net operating income.View entire presentation