CA - Enerplus to sell Canadian assets to Surge Energy in C$245M deal
Enerplus ( NYSE: ERF ) said Wednesday it agreed to sell its remaining Canadian assets located in Alberta and Saskatchewan to Surge Energy ( OTCPK:ZPTAF ) for C$245M (US$180M) in cash and stock.
The assets include production of ~3K boe/day (99% oil) on a net after deduction of royalties basis.
Earlier this week , Enerplus ( ERF ) closed a sale of Canadian assets to Journey Energy for C$140M.
Enerplus ( ERF ) "looks capable of generating close to $1.3B in positive cash flow in 2H 2022 and 2023 combined," Elephant Analytics writes in an analysis published on Seeking Alpha .
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Enerplus to sell Canadian assets to Surge Energy in C$245M deal