Crude oil waterfloods are a significant part of the Enerplus portfolio representing 16% of our daily production and 19% of our proved plus probable reserves.  Waterfloods are an attractive asset for Enerplus because they have large accumulations of original oil in place with low geologic risk.

Enerplus has 12 major waterflood properties and numerous small waterflood properties with over 1.4 billion barrels of original oil in place.  This represents a considerable resource for us as modest improvements in recovery factor can result in significant increases in reserves.  Infill drilling and well/injector optimization are effective methods of enhancing recovery and creating value through the addition of production and reserves.

In a crude oil waterflood play, water is injected into the producing reserves formation to supplement the original reservoir pressure and provide a drive mechanism to move additional oil to the producing well. Pressure maintenance and the production of oil from water injection can result in a production profile with more predictable and stable declines and higher recovery of reserves assets. Enerplus operates over 80% of our crude oil waterflood production, which is located throughout the Western Canadian Sedimentary Basin.

Enerplus 12 major waterfloods properties are Joarcam, Pembina 5 Way, Giltedge, Medicine Hat Glauconitic ‘‘C’’ Unit, Virden, Gleneath, Silverheights, Pouce Coupe, Cadogan, Freda Lake, Kessler and Mitsue.