Enerplus has closed the previously announced sale of our % working interest in the Kirby oil sands lease for proceeds of $ million. Enerplus Resources Fund of Calgary has sold its Kirby oilsands leases for $ million and is spending. Canadian Acquirer-Enerplus Resources Fund has sold its Kirby oil sands lease for $ million and says it has invested $ billion in light oil.
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Retrieved from ” https: Production at Joslyn should reach 10, barrels per day by while work is under way to prepare for surface mining to boost output significantly over the next decade.
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We didn’t recognize that password reset code. Thank you for your patience. Enerplus was established in by Marcel Tremblay, a pension fund manager and John Brussa, a lawyer. The Enerplus announcement reflects a trend for energy trusts to move from conventional plays into the larger, less risky enerplu sands, analyst William Lacey, with FirstEnergy Capital said.
Its original purpose was to provide income from mature, enerplsu oil and gas assets to retail investors, taking advantage of the tax advantages of the income trust structure. Canada’s first royalty trust, Enerplus already has a 16 per cent interest ener;lus the Joslyn oil sands lease. Such a sale would allow Enerplus to focus on its wholly owned Kirby steam-assisted gravity drainage SAGD project and other potential developments, Enerplus said in its earnings release.
If you encounter a comment that is abusive, click the “X” in the upper right corner of the comment box to report spam or abuse. In its financial report, Enerplus said it earned 82 cents a unit for the three months ended March 31, compared with kibry cents a unit for the previous year’s period.
Kirby oilsands leases sold for $405 million
InMark Resources renamed itself Enermark, became an income trust, and joined the Enerplus group of companies. This should only take a few moments. Create a new password. Read our community guidelines here.
The deal is expected to close on or about April Published May 9, Updated April 27, Kirbh must verify your email address before signing in. Visit our FAQ page for more information. House Democrats introduce plan to reopen government. Please check your inbox and follow the instructions to confirm your email. Focus primarily specialized in natural gas production.
Enerplus confirms sale of stake in Joslyn – The Globe and Mail
The information below will be used to optimize the content and make ads across the network more relevant to you. It also reported buying 23, net hectares of undeveloped land in northwest West Virginia and Maryland that is prospective for Marcellus shale gas.
Marcel Tremblay John Brussa. I also accept and agree to be bound by Enerplsu Terms and Conditions with respect to my use of the Site and I have read and understand Postmedia’s Privacy Statement. We’ve sent an email with instructions to create a new password. In addition to the Joslyn assets, the company also has a stake in the Surmont leases as the French-owned company expands to become a growing Alberta oil sands developer. It was Canada’s first income trust.
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Enerplus – Wikipedia
To order copies of Toronto Star articles, please go to: The company holds oil and natural gas property interest in the United States and in western Canada, in the provinces of Alberta, British Columbia and Saskatchewan. Share Adjust Comment Print. The first phase of the Joslyn project entered commercial production in latewith bitumen recovered using SAGD technology, which involves injecting steam deep into the oil sands to melt the bitumen and then pumping out the oil. Enerplus Corporation converted from an income trust to a corporate entity on January 1,after receiving approval by Enerplus said enerplu acquisition “will add significant long-term value for our unitholders.
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Analysts were scrambling kirhy find ownership details on Kirby; the deal was seen by some as slightly under past in-situ transactions. This copy is for your personal non-commercial use only.