Enerplus Finalizes Acquisition of Bakken Oil Assets

Enerplus announced the closing of the previously disclosed purchase of 46,500 net acres of land in North Dakota prospective for Bakken crude oil for US $456 million before closing adjustments.

This acquisition materially expands Enerplus' current land position to over 70,000 net acres (109 sections) in the Fort Berthold area, the majority of which is now operated by Enerplus with a greater than 90% working interest. Current production from this project is approximately 4,000 bbls/day. As drilling plans are executed over the next five years, production is expected to grow to over 20,000 BOE/day.