It’s been a while since we’ve checked in on Canadian energy company Enerplus Corp, which currently owns some 36,000 acres of Marcellus Shale leases in northeastern Pennsylvania. The company doesn’t drilling any wells in the region but does participate by funding the drilling programs of others. On Friday Enerplus issued their 2018 and 4Q18 update, which shows the company’s Marcellus production averaged 208 million cubic feet per day (MMcf/d).
Back in 2016 Enerplus owned 47,000 Marcellus acres, putting it all up for sale for half a billion dollars (see Enerplus Energy Puts 47K Marcellus Acres Up for Sale, Wants $500M). It appears they only sold 11,000 acres.
Here’s an updated map of where their acreage (and wells) are located in northeastern PA:
click for larger version
Brief description from Friday’s update on Enerplus’ Marcellus activity:
Marcellus production averaged 211 MMcf per day during the fourth quarter, approximately flat to the prior quarter. Full year 2018 production averaged 208 MMcf per day, a 5% increase year-over-year.
In the fourth quarter the Company participated in drilling 15 gross non-operated wells (11% average working interest) with 30 gross non-operated wells (5% average working interest) brought on production. At the time of this news release, 28 of these wells had more than 30 days on production. These wells had an average completed lateral length of 6,950 feet per well and average peak 30-day production rates per well of 18.1 MMcf per day.
The full 2018/4Q18 update for Enerplus:
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