Enerplus Core Drilling and Production Overview
Why invest in Enerplus.
■ THE BAKKEN IS AN ADVANTAGED BASIN
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5,000 drilling locations at or below $50/bbl WTI (-7 years)
- 10,000 drilling locations at or below $60/bbl WTI (-14 years)
- 18,000 drilling locations at or below $70/bbl WTI (-25 years)
- Significant egress: Bakken oil prices currently at a premium to WTI
ENERPLUS IS A DIFFERENTIATED BAKKEN PLATFORM
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Over a decade of core inventory based on 3-5% growth rate assumed in 5-year outlook
Among the best drilling & completions execution and safety performance in the basin
EXPOSURE TO STRONG NATURAL GAS PRICES THROUGH THE MARCELLUS
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Strong free cash flow generation; attractive hedging in 2023
DISCIPLINED CAPITAL ALLOCATION
Reinvestment rate of -35% in 2022, <50% in 2023-2026 assuming $80 WTI
Forecasting -$800MM of free cash flow in 2022 (>20% FCF yield) based on $90 WTI
Meaningful cash returns to shareholders ($425MM min. in 2022, 60% of FCF min. in 2023)
Profitable and sustainable organic liquids production growth of 3-5%
Low financial leverage with potential to be net debt free in 2023
enerPLUS
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