23 Apr 2013dividend declaration● Neutral
Enerplus declared its monthly dividend of CDN$0.09 per share, payable May 21, 2013 to holders of record May 3, 2013 (about US$0.09). The amount is unchanged.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
25 Mar 2013dividend declaration● Neutral
Enerplus declared its monthly dividend of CDN$0.09 per share, payable April 19, 2013 to holders of record April 5, 2013 (about US$0.09). The amount is unchanged.
26 Feb 2013regulatory community update● Neutral
A notice from Enerplus's transfer agent, Computershare, to regulators says the annual general meeting will be held May 10, 2013 in Calgary, with a March 21, 2013 record date for notice and voting. It is a routine meeting notice with no business items described.
21 Feb 2013dividend declaration● Neutral
Enerplus declared its monthly dividend of CDN$0.09 per share, payable March 20, 2013 to holders of record March 5, 2013 (about US$0.09). The amount is unchanged.
25 Jan 2013dividend declaration● Neutral
Enerplus declared its monthly dividend of CDN$0.09 per share, payable February 20, 2013 to holders of record February 5, 2013 (about US$0.09). The amount is unchanged from the reduced level set in mid-2012.
2 Jan 2013business combination● Neutral
Enerplus filed a Certificate of Amalgamation as an exhibit to a 6-K. The text provided contains only the cover form and page numbers, with no parties, terms or effects shown, so what was amalgamated and why cannot be determined from it. The filing may relate to a corporate reorganisation (inference only); no financial information is shown.
21 Dec 2012dividend declaration● Neutral
Enerplus declared its monthly dividend of CDN$0.09 per share, payable January 21, 2013 to holders of record January 4, 2013 (about US$0.09). The amount is unchanged.
20 Dec 2012asset acquisition disposition▲ GoodMajor
Enerplus closed two deals: the Sleeping Giant, Montana purchase for US$119M (taking its stake to about 90%, with about 7,300 BOE/day net) and the Manitoba sale for $216M including estimated closing adjustments. This resolves both the December 10 acquisition and the November 1 sale; the release does not say how the proceeds were used beyond reinvesting about half of the Manitoba proceeds.
10 Dec 2012business combination▲ GoodMajor
Enerplus issued 2013 guidance and agreed to buy an additional 20% working interest in its operated Sleeping Giant (Elm Coulee, Montana) Bakken leases for about US$131M (about US$121M after closing adjustments), using about half the Manitoba sale proceeds. The 2013 plan targets $685M of capital spending (20% below 2012's $850M), production of 82,000-85,000 BOE/day, a debt-to-funds-flow ratio of 1.9x, and no plans to change the CDN$0.09 monthly dividend. This answers the earlier open question about 2012/2013 spending and production guidance.
29 Nov 2012dividend declaration● Neutral
Enerplus declared its monthly dividend of CDN$0.09 per share, payable December 20, 2012 to holders of record December 10, 2012 (about US$0.09). The amount is unchanged.
2 Nov 2012asset acquisition disposition▲ GoodMajor
Enerplus agreed to sell all its working interests in producing Manitoba assets (Virden/Daly region, about 1,600 bbls/day of oil) for gross proceeds of about $220 million. The company calls them non-core and says the sale will reduce debt; it is subject to financing and customary conditions and expected to close before the end of December 2012. This continues the series of non-core sales, following the Laricina share sale in August.
30 Oct 2012dividend declaration● Neutral
Enerplus declared its monthly dividend of CDN$0.09 per share, payable November 20, 2012 to holders of record November 9, 2012 (about US$0.09). The amount is unchanged.
28 Sept 2012dividend declaration● Neutral
Enerplus declared its monthly dividend of CDN$0.09 per share, payable October 19, 2012 to holders of record October 10, 2012 (about US$0.09). The amount is unchanged.
29 Aug 2012dividend declaration● Neutral
Enerplus declared its monthly dividend of CDN$0.09 per share, payable September 20, 2012 to holders of record September 10, 2012 (about US$0.09). The amount is unchanged from the prior two months at the reduced level.
21 Aug 2012asset acquisition disposition▲ GoodMajor
Enerplus agreed to sell all its shares in Laricina Energy, a private oil sands company, for about $141 million net after tax, with BMO Capital Markets as agent. The proceeds will repay bank debt. This disposes of the Laricina stake (about 4.3M shares per earlier filings) and is described by the CEO as a step in selling non-core assets; it does not say whether the sale has closed.
31 July 2012dividend declaration● Neutral
Enerplus declared its monthly dividend of CDN$0.09 per share, payable August 20, 2012 to holders of record August 10, 2012 (about US$0.09). This is the same reduced amount as the July payment after the June cut from CDN$0.18, and the release again promotes the Stock Dividend Program.
28 June 2012dividend declaration▼ BadMajor
Enerplus cut its monthly dividend in half, declaring CDN$0.09 per share (about US$0.087) payable July 20, 2012 to holders of record July 10, 2012, versus CDN$0.18 paid every month in the earlier filings. The release gives no reason for the cut and simply reminds shareholders about the Stock Dividend Program.
29 May 2012dividend declaration● Neutral
Enerplus declared its regular CDN$0.18 per share dividend, payable June 20, 2012 to holders of record June 8, 2012 (about US$0.18). It also reported that shareholders approved the Stock Dividend Program on May 11, effective June 1, 2012, and that the old reinvestment plan ended May 25, 2012. Shareholders must enrol through their broker by June 4 to take shares for the June 20 payment. This resolves the proposal from March.
24 May 2012debt financing● Neutral
Enerplus filed the note purchase agreement dated May 15, 2012 for the senior notes announced in April: CDN$30 million 4.34% Series A due 2019, US$20 million 4.40% Series B due 2022 and US$355 million 4.40% Series C due 2024. The notes are guaranteed by subsidiaries and sold at face value. The excerpt shows this documents the placement priced in April, which resolves that thread; the text provided does not confirm closing or the repayment of bank borrowings.
30 Apr 2012dividend declaration● Neutral
Enerplus declared its regular CDN$0.18 per share dividend, payable May 18, 2012 to holders of record May 10, 2012 (about US$0.18). It again noted the May 11 vote on the Stock Dividend Program. The amount is unchanged.
16 Apr 2012capital raising announcement● NeutralMajor
Enerplus priced a private placement of about US$405 million of senior unsecured notes: US$355 million at 4.40% (12-year, repaid in five equal annual instalments from 2020), US$20 million at 4.40% (10-year), and CDN$30 million at 4.34% (7-year). Closing is expected around May 15, 2012, with Citigroup as placement agent; proceeds will repay bank credit facility borrowings, and the notes rank equally with the bank facility and existing senior notes. This follows the February equity raise, which was also partly aimed at reducing bank debt.
29 Mar 2012dividend declaration● Neutral
Enerplus declared its regular CDN$0.18 per share dividend, payable April 20, 2012 to holders of record April 10, 2012 (about US$0.18). It also reminded shareholders of the May 11 vote on replacing the dividend reinvestment plan with the Stock Dividend Program. The dividend amount is unchanged.
15 Mar 2012dividend declaration● NeutralMajor
Enerplus proposed replacing its dividend reinvestment plan (open only to Canadian shareholders) with a Stock Dividend Program open to all shareholders, letting them take dividends as shares at a 5% discount instead of cash. It needs two-thirds shareholder approval at the May 11, 2012 meeting; if approved, the first stock dividend would be paid June 20, 2012. The company says the program lets it keep cash that would otherwise be paid out.
9 Mar 2012regulatory community update● Neutral
Enerplus re-filed a management statement on its 2011 financial statements to fix two errors: it was wrongly dated February 23, 2011 instead of 2012, and it referred to Canadian accounting rules instead of International Financial Reporting Standards. This is a paperwork correction with no new financial information.
28 Feb 2012dividend declaration● Neutral
Enerplus declared its regular CDN$0.18 per share dividend, payable March 20, 2012 to holders of record March 9, 2012 (about US$0.18). The amount is unchanged.
8 Feb 2012capital raising announcement● NeutralMajor
Enerplus closed its share offering announced January 17, 2012, issuing 14,708,500 new common shares at CDN$23.45 each for about CDN$345 million, including 1,918,500 shares from the underwriters' full over-allotment option. The money will first reduce bank debt and then help fund part of the 2012 capital spending program; existing shareholders now own a smaller slice of the company.
31 Jan 2012dividend declaration● Neutral
Enerplus declared its regular CDN$0.18 per share dividend, payable February 21, 2012 to holders of record February 10, 2012 (about US$0.179). The amount is unchanged.
6 Jan 2012production update▲ GoodMajor
Enerplus says it hit its 2011 exit production forecast, averaging about 82,000 BOE/day in the last two weeks of December, and estimates 2011 average production of 75,000-76,000 BOE/day. Bakken production rose from 13,500 to 17,000 BOE/day over the year, mostly from Fort Berthold (the area bought in the 2010 acquisition); Marcellus production reached 25 MMcf/day at year-end despite the mid-2011 sale; Canadian production exited above 61,000 BOE/day. The 82,000 figure is within the 80,000-82,000 BOE/day exit range previously given. Detailed 2012 plans are promised in the coming weeks.
23 Dec 2011dividend declaration● Neutral
Enerplus declared its regular CDN$0.18 per share dividend, payable January 20, 2012 to holders of record January 10, 2012 (about US$0.176). The amount is unchanged.
29 Nov 2011dividend declaration● Neutral
Enerplus declared its regular CDN$0.18 per share dividend, payable December 20, 2011 to holders of record December 9, 2011 (about US$0.17). The amount is unchanged.