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Enerplus Acquires Ante Creek Waterflood Asset for $110MM

Enerplus Corp Not Disclosed
AnnouncedNov 14, 2016
TypeProperty
Announced Date
November 14,2016
Effective Date
September 01,2016
Close Date
November 15,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
110




Snapshot
Net Acres
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Location
Region
Canada

Country
Canada

Production
Production
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Calculated Metrics( EV/Category)
$/ Flowing
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$/ Acre
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Transaction Details:  Subscribe to see

Enerplus has entered into an agreement to acquire an operated (100% working interest), high-netback, light oil producing asset with significant secondary recovery growth potential.

The asset is located in the Ante Creek area of Alberta with existing production of approximately 3,800 BOE per day (45% liquids). The purchase price is approximately $110 million, net of anticipated closing adjustments, and will be financed with existing cash on the balance sheet and the Company's bank credit facility. Enerplus sees potential to significantly increase crude oil production from the asset within 24…


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