Forecast - Production | Capital Markets | Capital Expenditure | Capex Decrease | Capital Expenditure - 2020
Enerplus Lowers 2020 Spending by 40%; Ceasing All Bakken D&C
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Enerplus Corp. announced an update to its capital budget and operational plan for 2020 in response to the rapid decline in crude oil prices.
Enerplus is reducing its budget to $325 million, down 40% at the midpoint of prior 2020 guidance of $520 to $570 million. The new budget assumes US$35 per barrel WTI and US$2.25 per Mcf NYMEX. Plans to cease all operated drilling and completions activity in North Dakota by mid-April. Based on the revised plan, the Company will have 32 gross drilled uncompleted wells in inventory in North Dakota, creating valuable flexibility for rapid future capital deployment. 2020 crude oil and natural gas liquids production is expected to average between 50,000 to 52,000 barrels per day (from 57,000 to 60,000 barrels per day), representing a decline of…- ✓ Full news archive — U.S., Canada & international coverage
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