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Enerplus Slashes Marcellus Shale 2015 Budget

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Enerplus Slashes Marcellus Shale 2015 Budget

Enerplus Corporation has approved a capital budget for 2015 that is designed to preserve our balance sheet strength and financial flexibility while delivering restrained production growth.

This disciplined approach to capital spending is focused on our core areas with the best economics.

Highlights: Enerplus expects to spend $635 million in capital in 2015. This represents a $195 million or 23% reduction in capital spending compared to our 2014 forecast. Average 2015 production is expected to be 103,000 BOE/day to 108,000 BOE/day. At the low end of this range, Enerplus would expect to hold production constant, and at the high end of the range we would expect approximately 5% production growth. Debt-to-funds flow is expected to be below 2 times at the end of 2015, even if WTI averages…
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