Enerplus Corporation (USA) (TSE:ERF) has released an update.
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Enerplus Corporation reported a decline in first-quarter 2024 earnings with cash flow from operations at $128.7 million and adjusted funds flow at $173.1 million, a significant decrease from the previous year due to lower natural gas production and weaker commodity prices. Despite a drop in total production to 87,151 BOE per day, the company remains optimistic about its operational performance and expects a 15% increase in liquid production in the next quarter. Enerplus also highlighted its anticipated merger with Chord Energy Corporation, aimed at enhancing shareholder value through combined assets and expertise.
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