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Enerplus CorpERF.TOSELLApr 22, 2013Stock price when the opinion was issued
As of Jun 03, 2024. Market Open.
At least 15 years of drilling inventory in Bakken play. Very strong balance sheet (almost no debt). Expecting ~60% of free cash flow returning to shareholders. Trading under 3x cash flow with $80 oil. Expecting ~$29 share price next year given $80 oil. Expecting strong performance in 2024. Value proposition very strong.
Hasn’t performed for some time. They pound their chests on their Bakken wells in North Dakota but are paying upwards to $8-$10 million a well. Have a little bit of gas and a little bit of oil. You might want to wait for the tax loss season as the price could go up a little bit in the meantime.