Exploration & Production | Top Story | Quarterly / Earnings Reports
Enerplus' 83 MMcf/d Marcellus Production Surpasses 2013 Exit Rate
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Enerplus Corp. has reported a third quarter 2013 update for its Marcellus Shale operations.
"Production from the Marcellus averaged 83 MMcf/day of natural gas during the quarter, ahead of our planned 2013 exit rate of 75 MMcf/day. We continue to be encouraged by strong well performance and as new wells come on stream, we expect to reach record production levels in the fourth quarter.
"We invested $23 million in the Marcellus during the quarter, which included the drilling of 2.8 net wells and bringing 2.2 net wells on stream. As a result of the production growth achieved year-to-date and an improvement in NYMEX natural gas prices year-over-year, funds flow has increased significantly from the Marcellus with approximately $48 million realized year-to-date. Additionally, well costs have…
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