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February 21, 2014
06:11 EDTERFEnerplus sees FY14 production 96,000-100,000 BOE/day
The company stated, "We expect to produce an average of 96,000-100,000 BOE/day in 2014, an increase of 9% year-over-year or 8% per share using the mid-point of this range. We expect continued growth from our U.S. oil properties at Fort Berthold where we anticipate that average annual production will increase by approximately 30% in 2014, driving our light crude oil volumes to 67% of our total oil production. Total crude oil and natural gas liquids production is expected to increase by approximately 12%. Natural gas production is expected to increase by 7% averaging over 300 MMcf per day with the majority of the growth attributable to the Marcellus. Our U.S. assets are anticipated to account for over 50% of our corporate production volumes in 2014. The production mix is expected to remain at approximately 48% crude oil and natural gas liquids and 52% natural gas although continued outperformance in the Marcellus could push the natural gas share higher."
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December 17, 2014
19:05 EDTERFEnerplus sees 2015 daily production 103,000 BOE/day to 108,000 BOE/day
The company said, "We expect daily production will average between 103,000 BOE/day to 108,000 BOE/day, with a relatively flat profile throughout the year. Using the mid-point of this range, this represents a 2% increase over our expected 2014 production levels, generally balanced between oil/liquids and natural gas. On a per share basis, production growth is also expected to be approximately 2%.Our operating costs are expected to be $10.50/BOE for 2015. This is slightly higher than 2014 due to the impact of a weaker Canadian dollar on our U.S. operating costs, as well as the sale of lower operating cost non-core Canadian natural gas properties during the fourth quarter of 2014. Cash G&A expenses are expected to be maintained at $2.30 per BOE. Royalty costs, including state production taxes and impact fees, are expected to remain at 23% of revenues net of transportation. Based upon current commodity prices, we expect to pay cash taxes of approximately 2% of U.S. funds flow in 2015. We have sufficient tax pools to shelter our Canadian cash flow from material cash taxes until after 2018."
19:03 EDTERFEnerplus sees 2015 CapEx $635M
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