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 
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: 

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.


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.


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 

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 
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