Enerplus overview Concentrated position in the Bakken core High quality drilling inventory with large remaining opportunity set Low financial leverage and strong liquidity CDN WATERFLOODS 7,726 BOE/d (95% oil) 1.0x net debt to…
Low-risk, high-quality exposure to improving commodity prices NET DEBT / AFF RATIO (1) WTI WTI WTI Prudently managing leverage throughout 65/bbl 57/bbl Top quartile balance 38/bbl price volatility sheet strength Financial position…
Q3 2020 - Highlights RESILIENT Q3 total production of 91 MBOE/d (52.5 Mbbl/d liquids) PRODUCTION 2020 guidance raised: 90-91 MBOE/d (50.5-51 Mbbl/d liquids) 2020 capital guidance reduced to 295MM (from 300MM) COST FOCUS & FREE…
BALANCE SHEET & LIQUIDITY POSITION Balance sheet strength a competitive advantage Solid financial position Significant liquidity US millions - Cash, credit facility and senior notes (Sept 30, 2020)(2) Significant liquidity and low…
Preliminary 2021 outlook PRELIMINARY OUTLOOK BASED ON CURRENT MARKET CONDITIONS 2020 Q4 and 2021 preliminary production outlook Production, MBOE/d(2) Invest at maintenance 300MM 86 INCLUDES DRILLING capital levels TO SET UP 2022…
ENVIRONMENTAL, SOCIAL & GOVERNANCE Material focus areas Water Management TARGET HIGHLIGHTS GHG emissions intensity reduction targets(1) 2020 target: 10% y-o-y reduction Greenhouse Gas Community 2030 target: 50% reduction…
TRACK RECORD High return growth, free cash flow and low leverage High return oil growth Focus on free cash flow Return of capital Low financial leverage Production, MBOE/d Free cash flow(1), C millions C millions Net debt to adjusted…
WILLISTON BASIN OVERVIEW North Dakota and Montana Bakken / Three Forks FORT BERTHOLD, ND WILLISTON BASIN OVERVIEW Tier 1 acreage position Divide Sheridan Burke Large remaining opportunity set Williams Q3 2020 production: 46 Mboe/d…
FORT BERTHOLD BAKKEN / THREE FORKS OVERVIEW Tier 1 acreage position ERF BAKKEN POSITION FORT BERTHOLD, ND Acreage position concentrated in the core of the play 66,300 net acres Mckenzie Top quartile basin well performance FORT…
FORT BERTHOLD CAPITAL EFFICIENCY IMPROVEMENTS Solid execution delivering capital efficiency gains Solid execution YTD resulted in US1.2MM reduction in well costs compared to 2019(1) Drilling efficiency - continuing to drill faster…
FORT BERTHOLD DRILLING INVENTORY Running room to support high return growth Low existing well density and large remaining opportunity High quality drilling inventory(1) Gross operated inventory locations Low Existing Well Density(2) 500…
FORT BERTHOLD WELL PERFORMANCE Maintaining strong well performance at lower cost Enerplus Fort Berthold Well Performance WELL ECONOMICS(1) Cumulative oil production per well (Mbbl) WTI Oil Price 50/bbl 60/bbl Payout: 1.8 yrs 1.1 yrs…
Bakken egress and oil price differential outlook Bakken oil production & takeaway capacity(1) Millions of bbl/d 2.8 August 2020 production: 1,164 mb/d FULL-YEAR 2020 US5.00 2.4 Incremental rail available if needed (if DAPL cannot…
MARCELLUS OVERVIEW Core acreage position in the Marcellus dry gas window Non-operated position in Marcellus dry gas core MARCELLUS POSITION NE PENNSYLVANIA 34,000 net acres, 184 MMcf/d (Q3 2020 production) Low cost, highly…
MARCELLUS WELL RESULTS Capital efficient and highly productive drilling inventory Marcellus well performance 2018-2020 Average cumulative well production per 1,000 ft lateral 0.8 Avg. 0.7 Avg. 9,500 8,200 30% INCREASE lateral ft…
ENERPLUS MARCELLUS NATURAL GAS MARKETS Well positioned for constructive natural gas price outlook Pricing exposure Enerplus realized Marcellus differential(2) % of expected Marcellus sales(1) US/Mcf, average portfolio differential to…
CANADIAN OIL WATERFLOOD PORTFOLIO Large oil in place, low decline production CANADIAN WATERFLOODS Assets under water or polymer flooding Significant resource: 0.8 bn bbls OOIP(1) ANTE CREEK Low decline oil production Portfolio…
EMERGING OPPORTUNITY DJ BASIN Northern extension of Wattenberg field DJ BASIN 40,000 net acres in NW Weld County WYOMING Low entry price achieved through leasing and farm-in activity COLORADO Significant oil in place through all…
INVESTMENT HIGHLIGHTS Returns and value focused Concentrated acreage footprint in the Bakken core Large remaining development opportunity Low financial leverage and strong liquidity Well positioned to navigate volatile market…
SUPPLEMENTAL INFORMATION 23
2020 guidance 2020 guidance Drilling & completion activity(3) Guidance November 6, 2020 Asset Net wells drilled Net wells onstream Capital Spending C295MM North Dakota 22 23.7 Annual Average Total Production 90,000 91,000 BOE/day CDN…
COMMODITY HEDGING SUMMARY Price risk management CRUDE OIL HEDGES (WTI)(1)(2) Put Spreads Three-way Collars Period Volume Sold Put Purchased Put Volume Sold Put Purchased Put Sold Call (Mbbl/d) (US/bbl) (US/bbl) (Mbbl/d) (US/bbl)…
The Board of Directors Hilary A. Foulkes (Director since February 2014) Susan M. MacKenzie (Director since July 2011) Audit & Risk Management Committee Board Chair (effective May 7, 2020) Reserves Committee Safety & Social…
ESG & Sustainability reporting 6 YEARS OF ESG & SUSTAINABILITY REPORTING 27
ESG - Board oversight Greenhouse Gas Water Health & Community Culture Board Constitution Emissions Management Safety Engagement & Culture ESG oversight by the Board of Directors with material focus areas mapped to the applicable…
MATERIAL ESG FOCUS AREAS Summary of goals, targets & strategic objectives Focus area Goals, targets & strategic objectives Goal: we will manage a dedicated emissions and energy efficiency budget allocation internally that allows…
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