FANG - Enerplus: Some Growth Prospects But Also Some Risks

• Enerplus is one of the largest independent E&Ps in Canada, although most of its operations are in the United States.
• The company has a fairly attractive mix between crude oil and natural gas production, which should position it well for the future.
• The company's strong FCF has allowed it to begin rewarding its shareholders.
• The company appears to be using too much debt, which could present a very real risk to investors.
• The valuation looks rather stretched at the current level.

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