There’s a whole lotta business and busyness happening in N.D., these days. Two massive projects recently announced are soaking up much of the limelight for certain, including construction of a largest-of-its-kind power plant to use ethane as the primary fuel, and development of the world’s largest carbon-capture facility at a power plant. But there’s also some movin’ and shakin’ going on for E&Ps saying hello or waving goodbye. Reese Energy Consulting today is following the latest news from the Williston Basin, where Calgary-based Enerplus has acquired Houston-based Bruin E&P Operating for $465 million in an all-cash deal. This marks the latest Bakken purchase by Enerplus whose U.S. operations now make up 90% of its total production. The new acquisition adds 155,500 acres and 459 producing wells adjacent to the company’s existing 66,300 net acres and increases production by 24,000 BPD. Enerplus subsequently raised its 2021 production forecast from 86,000 BPD to 108,500 and CAPEX from $300 million to as much as $385 million.
Enerplus Corporation is one of Canada’s largest independent oil and gas producers. The company holds oil and natural gas property interest in the United States and in western Canada, in the provinces of Alberta, British Columbia and Saskatchewan.