Enerplus Q1 2023 Update
FIVE YEAR TRACK RECORD
High return growth, free cash flow and low leverage
High return oil growth
Production, MBOE/d
12%
Liquids production CAGR
Attractive free cash flow & return of capital
$1.45 Bn
Free cash flow (1)
$866 MM
Dividends +
Share repurchases
enerPLUS
Low financial leverage throughout the cycle
Net debt to adjusted funds flow ratio (1)
0.2x
Leverage ratio at YE 2022
$1.45 Bn
100
92
81
75
75
39
73
36
38
35
32
32
56
40
44
41
2021
Natural gas
2018
2019
2020
Liquids
62
=2
$94.23
$64.77
$67.92
$57.03
WTI
Oil price
$39.40
$6.64
$3.84
$3.09
$2.63
$2.08
NYMEX
Natural gas price
$866 MM
$730
1.0x
0.9x
0.6x
0.4x
0.2x
$135
2022
Total free cash flow
Total return of capital
2018
2019
2020
2021
2022
(2018-2022)
(2018-2022)
Share repurchases
Dividends
4
1) See Non-GAAP & Other Financial Measures in "Advisories".View entire presentation