[Editor's note: A version of this story appears in the July 2021 issue of Oil and Gas Investor magazine.]

Lying unobtrusively in the shadows of the Bakken Shale for the past half-decade, Calgary-based Enerplus Corp. struck earlier this year with two transformative back-to-back acquisitions for almost $800 million to bolster its portfolio. The combined deals quadruple its acreage footprint in the play and nearly double its cash flow—without adding any G&A costs.

“I would have loved to have bought something multiple times over the past five years,” said Enerplus president and CEO Ian Dundas, “but there are times when you can buy sensibly and times when you can’t.”

Dundas joined Enerplus in 2002 in the business development role, ultimately ascending to the CEO seat in 2013. He spoke with Oil and Gas Investor in May shortly after closing an acquisition from Hess.

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