Enerplus Core Drilling and Production Overview
Bakken focused five-year outlook
enerPLUS
■ Bakken focused five-year outlook expected to generate
-$3bn of free cash flow (1) at $80/bbl WTI (1)
■ Annual liquids production growth rate of 3-5% (3)
-
Maintains sustainable base production decline rate
Outlook excludes remaining Canadian assets due to
ongoing divestment process
Five-year outlook based on $80/bbl WTI, $4.00/Mcf NYMEX(1)
Annual capital
spending (2)
Annual liquids
production growth (3)
-$500 million
3-5%
Average
reinvestment rate
<50%
Cumulative
free cash flow (1)
-$3 billion
Five-year production and free cash flow outlook
5-Year free cash flow = 85% of
current market cap at $80 WTI
125
Current market
capitalization
100
75
Company production (Mboe/d)
25
25
50
50
$4.0
$3.5
$3.0
$2.5
$2.0
$1.5
$1.0
$0.5
$0.0
2026
2022
2023
2024
2025
(4)
Bakken
Marcellus
-Cumulative free cash flow
1) See Non-GAAP & Other Financial Measures in "Advisories" 2022 is based on rest of year prices of $90/bbl WTI and $6.50/Mcf NYMEX. Years 2023-2026 are based on $80/bbl WTI and $4.00/Mcf NYMEX.
2) 2022 capital spending guidance is $400-$440MM. 2023-2026 projected at approximately $500MM.
3) 3-5% annual production growth is from 2023-2026 and is divestment adjusted for Canadian assets. 2022e growth is 8% based on the guidance midpoint.
4) Bakken production on chart includes volumes from the DJ Basin.
8
Cumulative free cash flow (
billions)View entire presentation