Enerplus Core Drilling and Production Overview
Key updates from Q2 2022
1
STRONG OPERATING RESULTS DRIVE PRODUCTION GUIDANCE INCREASE
■ 2022 guidance increased to 97.5-101.5 MBOE/d (+1.0 midpoint), despite announced asset sale in Canada
■ No change to capital spending guidance of $400-$440 million
2
TRACKING RECORD ANNUAL FREE CASH FLOW GENERATION (>20% FCF YIELD)
■ Generated free cash flow (1) of $327 million in the first half of 2022
■ Increased 2022 full year free cash flow (1) estimate to approximately $800 million (2)
3
INCREASING RETURN OF CAPITAL TO SHAREHOLDERS
■ Repurchased 10% of public float between Aug 2021 - Jul 2022; renewed NCIB for another 10% in Aug 2022
■ Increased quarterly dividend by 16% to $0.05/share
■ Increased return of capital to at least 60% of free cash flow starting in H2 2022, continuing in 2023
1) See Non-GAAP & Other Financial Measures in "Advisories".
2) Based on realized prices through July 2022 and then $90/bbl WTI and $6.50/Mcf NYMEX.
enerPLUS
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