CALGARY – Light oil producer Enerplus Corp. is bucking an industry trend by increasing its spending, announcing Wednesday it will begin working through its backlog of unfinished oil wells in North Dakota.
Like many of its peers, Enerplus scaled back its 2015 capital spending plans as oil prices plunged, cutting is budget by 40 per cent in February to $480 million for the year. Now the company is adding back $60 million, bringing spend plans to $540 million.
Canadian auto-parts giant Magna International Inc. expects its sales growth to outperform the market over the next three years and sees particular opportunity in manufacturing complete vehicles for new industry players that have never built a car before.
ByAlbert Alfonso:There is little doubt that Enerplus Corp (ERF) has benefited from the recent increases in energy prices. The company has seen its stock surge over 20% YTD, compared with mostly flat returns from its peers. Enerplus is unique among its peers in that it has greatly diversified its asset base away from Western Canada and into the US.
ByAlbert Alfonso:Enerplus Corp (ERF) is a Canadian oil and natural gas producer with assets located both in Western Canada and the US. Enerplus has recently seen its stock price increase over 15% due to stronger than expected earnings and increases in realized energy prices. Enerplus currently offers a $0.09 per share monthly dividend and at current prices yields about 6.90%.
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ByAlbert Alfonso:Enerplus Corp (ERF) is a Canadian Energy producer with assets located both in Western Canada and the US. In July 2012, due to its heavy reliance on natural gas, Enerplus was forced to lower its dividend payout 50%, to a more sustainable $0.09 per month. Enerplus has recently bounced off its low, with the stock surging about 20% in recent weeks due to higher natural gas prices.
By Achilles Research:Enerplus Corporation (ERF) is a North American oil- and gas player with significant operation theaters in the US and Canada. 52% of total 2013 production is estimated to originate from natural gas, 45% from crude oil and 3% from liquids. Around 55% of Enerplus' production comes from Canada and 45% from the United States.
By Zvi Bar:On Monday, August 20, Enerplus Corporation (ERF) reported that it has entered into an agreement to sell its interest in Laricina Energy, a private Canadian oil sands development company, for net after tax proceeds of approximately $141 million.
By Zvi Bar:On June 12, after the markets closed, Enerplus Corporation (ERF) cut its dividend in half. The company reported that starting in July, Enerplus will reduce its monthly dividend by 50 percent, from 18 Canadian cents per share to 9 Canadian cents.See below for a recent performance chart for Enerplus:
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