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5 YEAR DETAILED STATISTICAL REVIEW
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($ thousands, except per unit amounts)
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2007
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2006
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2005
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2004
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2003
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Financial
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Oil
and gas sales(1)
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$1,464,214
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$1,569,487
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$1,413,734
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$989,266
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$890,011
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Cash
flow from operating activities
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868,548
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863,696
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774,633
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555,060
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427,434
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Cash
distributions to unitholders
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646,835
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614,340
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498,205
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423,311
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372,576
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Per unit
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5.04
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5.04
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4.47
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4.20
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4.29
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Cash withheld for acquisitions and
capital expenditures
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221,713
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249,356
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276,428
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113,248
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34,145
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Development
capital spending
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387,165
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491,226
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368,689
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206,874
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157,706
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Acquisitions
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274,244
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51,313
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704,028
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636,326
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225,293
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Divestments
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9,572
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21,127
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66,511
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31,742
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73,214
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Total
net capital expenditures
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658,327
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526,387
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1,010,549
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813,636
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312,073
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Total
assets
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4,303,130
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4,203,804
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4,130,623
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3,180,748
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2,661,765
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Long-term
debt, net of cash
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724,975
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679,650
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649,825
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584,991
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257,701
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Payout
ratio(2)
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74%
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71%
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64%
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76%
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87%
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Net
debt/cash flow ratio
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0.8x
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0.8x
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0.8x
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1.1x
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0.6x
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Trust Unit Trading Information
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Toronto
Stock Exchange trading summary
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Close
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$39.87
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$50.68
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$55.86
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$43.60
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$39.35
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Volume
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96,898
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82,120
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62,278
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52,821
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51,800
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New
York Stock Exchange trading summary
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Close
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$40.05
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$43.61
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$47.98
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$36.31
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$30.44
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Volume
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54,192
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81,677
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70,454
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67,570
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60,624
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Weighted
average number of units outstanding (basic)
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127,691
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121,588
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109,083
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99,273
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86,202
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Number
of units outstanding at December 31
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129,813
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123,151
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117,539
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104,124
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94,349
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Average Benchmark Pricing
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AECO
natural gas (per Mcf)
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$6.61
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$6.99
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$8.48
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$6.79
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$6.70
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NYMEX
natural gas (US$ per Mcf)
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6.92
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7.26
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8.55
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6.09
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5.54
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WTI
crude oil (US$ per bbl)
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72.34
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66.22
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56.56
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41.40
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31.04
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CDN$/US$
exchange rate
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0.93
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0.88
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0.83
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0.77
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0.72
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($
per BOE except percentage data)
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Oil and Gas Economics
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Net
royalty rate
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19%
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19%
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19%
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21%
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20%
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Weighted
average price(3)
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$50.48
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$50.23
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$52.36
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$40.90
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$36.94
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Hedging(4)
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0.45
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(1.10)
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(4.90)
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(3.50)
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(1.81)
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Weighted
average price(1)
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50.93
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49.13
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47.46
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37.40
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35.13
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Net
royalty expense
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9.49
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9.36
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10.21
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8.40
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7.51
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Operating
expense (4)
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9.11
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8.02
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7.45
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7.14
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6.73
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Operating
netback
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32.33
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31.75
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29.80
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21.86
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20.89
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General
and administrative expense(4)
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1.98
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1.71
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1.28
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1.06
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0.95
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Management
fee
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-
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-
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-
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-
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2.29
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Interest
expense, net of interest and other income (4)
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1.37
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0.95
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0.51
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0.68
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0.74
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Foreign
exchange(4)
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0.06
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(0.02)
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0.13
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(0.01)
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0.08
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Taxes
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0.77
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0.70
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0.31
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0.24
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0.26
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Restoration
and abandonment
cash costs
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0.54
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0.37
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0.27
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0.25
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0.26
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Cash flow before changes in non-cash working capital
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$27.61
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$28.04
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$27.30
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$19.64
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$16.31
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(1) Net of commodity derivative instruments and transportation
(2) Calculated as
cash distributions to unitholders divided by cash flow from operating activities
(3) Net of transportation and before the
effects of commodity derivative instruments
(4) Does not include non-cash portion of expense
OPERATIONAL STATISTICS
The following information
outlines Enerplus' gross average daily production volumes for the years
indicated and our company interest reserves based upon forecast prices and
costs at December 31 each year.
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2007(1)
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2006(1)
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2005(1)
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2004(1)
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2003(1)
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Daily Production
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Oil Sands (bbls/day)
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n/a
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n/a
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n/a
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n/a
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n/a
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Crude Oil (bbls/day)
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34,506
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36,134
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29,315
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25,550
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24,597
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NGLs (bbls/day)
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4,104
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4,483
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4,689
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4,398
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4,666
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Natural Gas (Mcf/day)
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262,254
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270,972
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274,336
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271,091
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240,907
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BOE per day
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82,319
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85,779
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79,727
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75,130
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69,414
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Drilling Activity (net
wells)
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252
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361
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393
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367
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294
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Success Rate
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99%
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99%
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99%
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99%
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99%
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Production Replacement
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90%
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82%
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247%
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384%
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91%
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Proved Reserves(2)
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Oil Sands (Mbbls)
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8,568
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8,730
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9,453
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n/a
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n/a
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Crude Oil (Mbbls)
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125,238
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125,048
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129,745
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104,408
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91,063
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NGLs (Mbbls)
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11,785
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12,690
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13,084
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12,776
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13,571
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Natural Gas (MMcf)
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866,077
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920,061
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965,776
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971,598
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867,204
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MBOE
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289,937
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299,812
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313,245
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279,117
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249,168
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Probable Reserves(2)
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Oil Sands (Mbbls)
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54,930
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47,998
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43,700
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47,747
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n/a
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Crude Oil (Mbbls)
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35,504
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34,421
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31,567
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26,783
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27,807
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NGLs (Mbbls)
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3,827
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3,777
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3,539
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3,292
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3,742
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Natural Gas (MMcf)
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336,214
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344,025
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342,518
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295,698
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284,096
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MBOE
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150,297
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143,533
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135,892
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127,105
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78,898
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Proved Plus Probable
Reserves(2)
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Oil Sands (Mbbls)
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63,498
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56,728
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53,153
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47,747
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n/a
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Crude Oil (Mbbls)
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160,742
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159,469
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161,312
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131,191
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118,870
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NGLs (Mbbls)
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15,612
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16,467
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16,623
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16,068
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17,313
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Natural Gas (MMcf)
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1,202,291
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1,264,086
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1,308,294
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1,267,296
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1,151,300
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MBOE
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440,234
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443,345
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449,137
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406,222
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328,066
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Reserve Life Index(3)
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Without Oil Sands:
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Proved (years)
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10.0
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9.8
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9.6
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10.1
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10.6
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Proved Plus Probable (years)
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12.8
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12.2
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12.0
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12.4
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13.3
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With Oil Sands:
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Proved (years)
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10.3
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10.1
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9.9
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10.1
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10.6
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Proved Plus Probable (years)
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14.8
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14.0
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13.5
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14.0
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13.3
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(1) 2003 - 2007
reserve information reflects NI 51-101 reporting methodology.
(2) Company interest reserves consist of gross reserves
(as defined in National Instrument 51-101) plus Enerplusí royalty interests.
Company interest reserves are not a term defined in National instrument 51-101
and may not be comparable to reserves disclosed by other issuers.
(3) The Reserve Life Indices (RLI) are based upon year-end
proved plus probable reserves divided by the following year's proved and proved
plus probable production volumes as determined in the independent reserve
engineering reports.
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