Enerplus Tightens FY19 Production Guidance Range - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Friday, Enerplus Corp. (ERF, ERF.TO) tightened its production guidance range for the full-year 2019.

For fiscal 2019, the company now projects average annual production in a range of 100,000 to 101,000 BOE/day, average annual crude oil and natural gas liquids production in a range of 54,250 to 54,750 bbls/day and capital spending of $625 million.

Previously, the company expected average annual production in the range of 99,000 to 102,000 BOE/day, average annual crude oil and natural gas liquids production in the range of 53,500 to 56,000 bbls/day and capital spending in the range of $610 million to $630 million.

For the fourth quarter, the company projects annual production in the range of 103,000 to 107,000 BOE/day, as well as average annual crude oil and natural gas liquids production in the range of 58,000 to 60,000 bbls/day.

The company also reported third-quarter total production of 107,181 BOE per day, up 6 percent quarter-over-quarter. This included liquids of 60,121 barrels per day, up 14 percent quarter-over-quarter.

"Our 2019 plan remains on track to deliver 9 to 10% annual liquids production growth and 15% on a per share basis, while maintaining our low financial leverage," stated Ian Dundas, President and Chief Executive Officer.