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News Breaks
May 12, 2014
08:34 EDTERFEnerplus price target raised to $28 from $24 at BMO Capital
BMO Capital increased its price target on Enerplus after the company reported stronger than expected Q1 results and higher than expected Q1 production. The firm expects Enerplusí momentum to carry through to the end of the year. It keeps an Outperform rating on the shares.
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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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