Enerplus overview Differentiated Bakken drilling inventory CDN Over a decade of core inventory WATERFLOODS (Divestments announced Compelling free cash flow generation closed/closing in Q4 2022) 2022e 800 million(1) Competitive…
2022: disciplined plan, robust free cash flow generation Key figures 2022 capital allocation 1,400 TOTAL 1,230 430 PRODUCTION 99,750-101,000 (1) 1,200 BOE/D 9% growth vs 2021 1,000 CAPITAL 430 40 US millions 800 760…
Key updates from Q3 2022 1 STRONG OPERATING RESULTS DRIVE POSITIVE GUIDANCE UPDATES Q3 2022 production of 107.8 MBOE/d (+15% Q/Q) Q4 2022 volumes to remain strong: guidance is 105-110 MBOE/d FY 2022 production guidance increased…
Strong well performance & execution driving higher production forecast Enerplus average North Dakota well performance (1) Average cumulative oil production per well 250 RESILIENT PRODUCTION 2019-2021 average Midpoints of FY 2022…
Net debt reduction and return of capital through Q3 2022 Reinforcing balance sheet strength Competitive return of capital(1) Meaningful share count reduction (1) Net debt ( million) Dividends + share repurchases ( million) Shares…
Return of capital update 2022 return of capital expectation based on 800 million of free cash flow (1)(2)(3) 2022 RETURN OF CAPITAL millions 50% of H1 2022 free cash flow + at least 60% of H2 800 2022 free cash flow 800 353 700…
Bakken focused five-year outlook Bakken focused five-year outlook expected to generate Five-year production and free cash flow outlook(4) 3bn of free cash flow(1) at 80/bbl WTI (1) Annual liquids production growth rate of 3-5% (3)…
ENVIRONMENTAL, SOCIAL & GOVERNANCE Material focus areas EMISSIONS WATER HEALTH & Health & Safety MANAGEMENT(1)(2) MANAGEMENT(1) SAFETY (1) 2021 Performance 2021 Performance 2021 Performance 35% methane emissions 31% freshwater…
DIFFERENTIATED BAKKEN POSITION 11
Core Bakken is competitive with the best N.A. oil plays Third-party data: Breakeven WTI oil prices across North American oil plays(1)(2) Source: Enverus Intelligence Research 60 Little Knife & FBIR areas represent 85% of Enerplus…
Enerplus: substantial core acreage, large remaining opportunity set Lightly drilled acreage Acreage in core & extended core Substantial sub-50/bbl WTI inventory Drilling density: wells per DSU Productivity: 6 month BOE/1K foot lateral…
Deep drilling inventory supports sustainable outlook 1,000 Inventory upsides 900 Lower return locations that offer 800 250 upside through stimulation advances, well cost improvements, sustained high oil prices Decade Net…
Bakken oil price strength supported by spare pipeline capacity +1.25/bbl 2022 GUIDANCE Oil price diffs Enerplus Bakken oil price differential vs WTI (/bbl) above WTI Premium pricing vs WTI expected in 2022 2014 2015 2016 2017…
APPENDIX 16
Strong liquidity and low financial leverage Significant liquidity Track record of low financial leverage Liquidity position at September 30, 2022 ( millions) Net debt to adjusted funds flow ratio Enerplus was the first North American…
2022 guidance 2022 ANNUAL GUIDANCE Capital spending (USMM) 430 Total production (Mboe/d) 99.75 101.0 Liquids production (Mbbl/d) 61.5 62.5 Q4 production (Mboe/d) 105.0 110.0 Q4 liquids production (Mbbl/d) 64.0 68.0 Average…
COMMODITY HEDGING SUMMARY Price risk management CRUDE OIL HEDGES (WTI)(1)(2)(3) Swaps Collars Period Purchased Volume Swaps Brent-WTI Spread Volume Sold Put Sold Call Put (Mbbl/d) (US/bbl) (US/bbl) (Mbbl/d) (US/bbl) (US/bbl)…
BAKKEN CORE DRILLING INVENTORY FBIR Expected average well performance (1) Inventory Distribution Payout period and NPV10 at 60, 80, 100 per barrel WTI Net future drilling locations Mountrail 300 WTI NPV10 MM Williams 100 18…
BAKKEN CORE DRILLING INVENTORY Little Knife Expected average well performance (1) Inventory Distribution Payout period and NPV10 at 60, 80, 100 per barrel WTI Net future drilling locations Mountrail 300 WTI NPV10 MM Williams 100…
BAKKEN CORE DRILLING INVENTORY Eastern Williams Expected average well performance (1) Inventory Distribution Payout period at 60, 80, 100 per barrel WTI Net future drilling locations Williams Mountrail 300 WTI NPV10 MM Eastern…
BAKKEN EXTENDED CORE DRILLING INVENTORY Murphy Creek Expected average well performance (1) Inventory Distribution Payout period at 60, 80, 100 per barrel WTI Net future drilling locations Mountrail 300 WTI NPV10 MM Williams 100 9…
MARCELLUS OVERVIEW Core acreage position in the Marcellus dry gas window MARCELLUS POSITION NE PENNSYLVANIA Non-operated position in Marcellus dry gas core 32,700 net acres Bradford Susquehanna 160-170 MMcf/d production(1) High…
DJ BASIN Northern extension of Wattenberg field DJ BASIN Enerplus holds 34,700 net acres in NW Weld County WYOMING Low entry price achieved through leasing and farm-in activity COLORADO 2017/2018 - 5 wells online (4 Codell, 1…
Board of Directors Hilary A. Foulkes (Director since February 2014) Robert B. Hodgins (Director since November 2007) Compensation & Human Resources Committee Board Chair Corporate Governance & Nominating Committee (Chair) Sherri A.…
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