Brief: Enerplus Announces Sale Of Non-Strategic Interests In The Williston Basin

Enerplus

30/08/2021 11:13

Aug 30 (Reuters) - Enerplus Corp  ERF.TO :
    * ENERPLUS ANNOUNCES SALE OF NON-STRATEGIC INTERESTS IN THE
WILLISTON BASIN
    * ENERPLUS CORP - DEAL FOR TOTAL CONSIDERATION OF US$115
MILLION
    * ENERPLUS - WILL RECEIVE UP TO US$5 MILLION IN CONTINGENT
PAYMENTS IF WTI OIL PRICE AVERAGES OVER $65 PER BARREL IN 2022
AND OVER $60 PER BARREL IN 2023
    * ENERPLUS CORP - NOW ESTIMATE THAT WILL ACHIEVE $400
MILLION DEBT
REDUCTION TARGET BY END OF Q1 OF 2022
    * ENERPLUS CORP - PLAN TO DIRECT APPROXIMATELY 10% OF SALE
PROCEEDS TO INCREMENTAL SHARE REPURCHASES

Source text for Eikon:  ID:nCNWp1Ntza 
Further company coverage:  ERF.TO 

 ((Reuters.Briefs@thomsonreuters.com;))