68. RETAILTexasmarketingpresentationFINAL.pdf - Enerplus

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Production Outlook MMBOE/day 100 90 80 70 Bakken 60 Marcellus 50 Waterfloods 40 30 20 Rest of Portfolio 10 0 Exit 2010 Exit 2011 Exit 2012 43% Liquids 47% Liquids 49% Liquids Growing Oil • Increase in oil weighting results in approaching an even split between gas and liquids • Oil production is +80% weighted to light/medium grades Decline Profile • Higher decline in growth plays increases corporate decline over next several years before stabilizing • 2010 exit corporate decline at 19% • increasing 2% - 4% per year 11
Financial Outlook 900 800 Oil Gas Adjusted Payout Ratio Cash Flow Estimates 180% 160% • 2011 and 2012 cash flow is approximately 70% weighted to liquids, up from approximately 65% in 2010 700 600 140% 120% • Balance sheet supports growth plans through 2012 $ Millions 500 400 300 200 100 0 2010 2011 2012 100% 80% 60% 40% 20% 0% • Payout ratios decline as production from growth plays increases • Non-cash flow generating asset sales expected to help maintain financial flexibility Adjusted Payout Ratio = (Capex+Dividends)/Cash Flow Based upon the forward commodity prices (WTI US$98/bbl, AECO $3.85/Mcf, NYMEX Gas US$4.50/MMBtu) and forecast costs as of February 14, 2011 including the impact of hedging 12
Page 1 and 2: The Game Plan Enerplus Corporation
Page 3 and 4: Corporate Profile • Trading Symbo
Page 5 and 6: Significant Portfolio Repositioning
Page 7 and 8: 2010 Year-End Reserves Summary P+P
Page 9 and 10: Added Meaningful Upside Potential C
Page 11: 2011 Capital Focus Resource Play Ca
Page 15 and 16: Crude Oil
Page 17 and 18: Bakken & Three Forks Geology Middle
Page 19 and 20: Fort Berthold, North Dakota Key Fac
Page 21 and 22: Fort Berthold Results Long laterals
Page 23 and 24: Significant Future Production Growt
Page 25 and 26: Waterfloods Key Facts OOIP P+P Rese
Page 27 and 28: Waterflood Development Plans • 20
Page 29 and 30: Marcellus Shale Gas Overview • Cu
Page 31 and 32: Marcellus Performance - Cumulative
Page 33 and 34: Marcellus Drilling Activity To Date
Page 35 and 36: Future Production Growth in the Mar
Page 37 and 38: Long-Term Strategy for Enerplus •
Page 39 and 40: 2011 Guidance Summary of 2011 Expec
Page 41 and 42: Cash Flow Sensitivity The sensitivi
Page 43 and 44: Reserves and Contingent Resources P
Page 45 and 46: Enerplus Ownership Canadian US & Fo
Page 47 and 48: Long-Term Debt ($ thousands) Decemb
Page 49 and 50: Fort Berthold Development Plans B 1
Page 51 and 52: Fort Berthold Well Costs Long Later
Page 53 and 54: Fort Berthold Production - Gatherin
Page 55 and 56: Supplemental Waterflood Information
Page 57 and 58: Polymer Flood • Polymer is chemic
Page 59 and 60: Dec-14 Dec-13 Dec-12 Dec-11 Dec-10
Page 61 and 62: Giltedge - Polymer Project Costs an
Page 63 and 64:
Medicine Hat Glauc C - Production H
Page 65 and 66:
2011 Development Capital Plans at M
Page 67 and 68:
Freda Lake Ratcliffe Unit Freda Lak
Page 69 and 70:
Supplemental Marcellus Information
Page 71 and 72:
Marcellus Well Design • Drilling
Page 73 and 74:
Gathering Gas in the Marcellus NE P
Page 75 and 76:
Supplemental Deep Basin Information
Page 77 and 78:
Stacked Mannville Key Facts Key pro
Page 79 and 80:
Stacked Mannville Type Curve Econom
Page 81 and 82:
Montney Type Curve Economics AECO (
Page 83 and 84:
Disclaimers Assumptions All economi
Page 85:
Disclaimers NOTICE TO U.S. READERS
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68. RETAILTexasmarketingpresentationFINAL.pdf - Enerplus

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