Enerplus Corp. closed the sale of its Canadian assets to Houston-based Surge Energy Inc., the company announced in a press release on Dec.19.
Previously announced on Nov. 2, the deal consideration at closing totaled CA$245 million (US$180 million) comprised of CA$210 million in cash and CA$35 million in common shares and includes Enerplus' ~3,000 boe/d assets located in Alberta and Saskatchewan.
The divesture marks Enerplus' exit from Canada, having already sold a portion of their assets to Journey Energy Inc. in a deal that closed on Oct. 31.
With its focus now solely on the U.S., the company plans to advance the development of its Bakken and Marcellus assets in North Dakota and northeast Pennsylvania.
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