"Enerplus' second quarter results and updated 2022 outlook reflect our company's strong operating momentum and disciplined approach to capital allocation,” said Ian C. Dundas, President and CEO. “Our annual production guidance has continued to move higher driven by well outperformance and efficient execution, while our capital spending plans remain unchanged.”
Dundas continued, “Enerplus is in a solid financial position with a compelling free cash flow profile. As a result, we are increasing our cash returns to shareholders to at least 60% of free cash flow in the second half of this year, with a minimum commitment of returning $425 million in 2022 through dividends and share repurchases. We are also committing to returning at least 60% of 2023 free cash flow to shareholders."
Upon request, shareholders are entitled to receive a printed copy of Enerplus’ financial results at no charge.