Enerplus Announces Increase in Contingent Resource Estimate, Future Drilling Inventory and Improved Well Economics at Fort Bert

 Enerplus Announces Increase in Contingent Resource Estimate, Future Drilling  Inventory and Improved Well Economics at Fort Berthold  This news release includes forward-looking statements and information within  the meaning of applicable securities laws.  Readers are advised to review the  "Forward-Looking Information and Statements" at the conclusion of this news  release.  CALGARY, June 18, 2014 /CNW/ - Enerplus Corporation ("Enerplus") (TSX: ERF)  (NYSE: ERF) is pleased to announce that as a result of our operational  performance and continued technical assessment, including a detailed analysis  of well data within the region, the future outlook of the Fort Berthold Bakken  and Three Forks core area has significantly improved.  Highlights of our assessment include:            --  Increase in Contingent Resource:  Our internal best estimate of             economic contingent resources, as independently audited by             McDaniel & Associates Consultants Ltd., has increased by 250%,             from 39 MMBOE at December 31, 2013, to 136 MMBOE at June 1,             2014.  This is largely due to a 50% increase in our estimate of             original oil in place which includes contribution from the             Bakken formation and the first bench of the Three Forks             formation across our entire acreage position and the second             bench of the Three Forks formation on a portion of our acreage.         --  Increase in Drilling Inventory:  As a result of the revised             contingent resource assessment, our estimate of future drilling             locations has risen by over 125%.  We now estimate             approximately 330 future net drilling locations, up from 145             previously, with long horizontal wells representing 60% of             these locations. This assumes an average well density of seven             wells per drilling spacing unit. In addition, Enerplus             continues to see further upside potential through additional             down spacing, higher recovery rates and continued evolution of             our well completions.         --  Improved Economics:  The changes in our completion design over             the past 12 months have resulted in a 50% improvement in             capital efficiencies within this play. With the increase in             well productivity, the net present value and internal rates of             return of this play have improved meaningfully.  An in-depth presentation detailing our analysis is available on our website.   In addition, we plan to hold a webcast to provide further details on our  assessment today, June 18(th) at 10:00 AM MST (12:00 PM EST).  To register for the webcast, please click here:  http://event.on24.com/r.htm?e=795654&s=1&k=443FBC646AE541A01099C18389BE429A  Electronic copies of the presentation, along with other public information,  are available on our website at www.enerplus.com.  Follow @EnerplusCorp on Twitter at https://twitter.com/EnerplusCorp.  INFORMATION REGARDING RESOURCES AND OPERATIONAL INFORMATION  Barrels of Oil Equivalent  This news release also contains references to "BOE" (barrels of oil  equivalent). Enerplus has adopted the standard of six thousand cubic feet of  gas to one barrel of oil (6 Mcf: 1 bbl) when converting natural gas to BOEs.   BOEs may be misleading, particularly if used in isolation.  The foregoing  conversion ratios are based on an energy equivalency conversion method  primarily applicable at the burner tip and do not represent a value  equivalency at the wellhead. Given that the value ratio based on the current  price of oil as compared to natural gas is significantly different from the  energy equivalent of 6:1, utilizing a conversion on a 6:1 basis may be  misleading. "MBOE" and "MMBOE" mean "thousand barrels of oil equivalent" and  "million barrels of oil equivalent", respectively.  Contingent Resource Estimates  This news release contains estimates of "contingent resources". "Contingent  resources" are not, and should not be confused with, oil and gas reserves.  "Contingent resources" are defined in the Canadian Oil and Gas Evaluation  Handbook (the "COGE Handbook") as "those quantities of petroleum estimated, as  of a given date, to be potentially recoverable from known accumulations using  established technology or technology under development, but which are not  currently considered to be commercially recoverable due to one or more  contingencies. Contingencies may include factors such as economics, legal,  environmental, political and regulatory matters or a lack of markets. It is  also appropriate to classify as "contingent resources" the estimated  discovered recoverable quantities associated with a project in the early  evaluation stage. All of our contingent resource estimates are economic using  established technologies and under current commodity price assumptions used by  our independent reserve evaluators. Enerplus expects to develop these  contingent resources in the coming years however it is too early in their  development for these resources to be classified as reserves at this time.  There is no certainty that it will be commercially viable or that we will  produce any portion of the volumes currently classified as "contingent  resources". The "contingent resource" estimates contained herein are presented  as the "best estimate" of the quantity that will actually be recovered,  effective as of June 1, 2014.  A "best estimate" of contingent resources means  that it is equally likely that the actual remaining quantities recovered will  be greater or less than the best estimate, and if probabilistic methods are  used, there should be at least a 50% probability that the quantities actually  recovered will equal or exceed the best estimate.  For additional information regarding the primary contingencies which currently  prevent the classification of our disclosed "contingent resources" associated  with our Fort Berthold properties as reserves and the positive and negative  factors relevant to the "contingent resource" estimates, see page 19 of our  Annual Information Form dated February 21, 2014, a copy of which is available  under our SEDAR profile at www.sedar.com, and our Form 40-F, a copy of which  is available under our EDGAR profile at www.sec.gov.  FORWARD-LOOKING INFORMATION AND STATEMENTS  This news release contains certain forward-looking information and statements  ("forward-looking information") within the meaning of applicable securities  laws. The use of any of the words "expect", "anticipate", "continue",  "estimate", "guidance", "objective", "ongoing", "may", "will", "project",  "should", "believe", "plans", "intends", "budget", "strategy" and similar  expressions are intended to identify forward-looking information. In  particular, but without limiting the foregoing, this news release contains  forward-looking information pertaining to the following: Enerplus' quantities  of contingent resources and original oil-in-place in the Fort Berthold Bakken  and Three Forks area; future development and drilling locations and the types  of wells to be drilled; and the future value and rates of return on certain  wells drilled in the area.  The forward-looking information contained in this news release reflects  several material factors and expectations and assumptions of Enerplus  including, without limitation: that Enerplus will conduct its operations and  achieve results of operations as anticipated; that Enerplus' development plans  will achieve the expected results; the general continuance of current or,  where applicable, assumed industry conditions; the continuation of assumed  tax, royalty and regulatory regimes; the accuracy of the estimates of  Enerplus' reserve, resource and oil-in-place volumes; ability and willingness  to spend the required capital; and commodity price and cost assumptions.  Enerplus believes the material factors, expectations and assumptions reflected  in the forward-looking information are reasonable but no assurance can be  given that these factors, expectations and assumptions will prove to be  correct.  The forward-looking information included in this news release is not a  guarantee of future performance and should not be unduly relied upon. Such  information involves known and unknown risks, uncertainties and other factors  that may cause actual results or events to differ materially from those  anticipated in such forward-looking information including, without limitation:  changes in commodity prices; changes in realized prices for Enerplus'  products; changes in the demand for or supply of Enerplus' products;  unanticipated operating results, results from development plans or production  declines; changes in tax or environmental laws, royalty rates or other  regulatory matters; changes in development plans by Enerplus or by third party  operators of Enerplus' properties; reallocation or an inability to finance the  required capital expenditures; inaccurate estimation of Enerplus' oil and gas  reserves, resources and oil-in-place volumes; limited, unfavourable or a lack  of access to capital markets; increased costs; reliance on industry partners;  and certain other risks detailed from time to time in Enerplus' public  disclosure documents (including, without limitation, those risks identified in  our AIF and Form 40-F described above).  Ian C. Dundas President & Chief Executive Officer Enerplus Corporation    SOURCE  Enerplus Corporation  please contact Investor Relations at 1-800-319-6462 or  emailinvestorrelations@enerplus.com.  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/June2014/18/c7674.html  CO: Enerplus Corporation ST: Alberta NI: OIL  
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