Enerplus has closed the previously announced sale of our % working interest in the Kirby oil sands lease for proceeds of $ million. Enerplus Resources Fund of Calgary has sold its Kirby oilsands leases for $ million and is spending. Canadian Acquirer-Enerplus Resources Fund has sold its Kirby oil sands lease for $ million and says it has invested $ billion in light oil.
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Enerplus said that after a strategic review of the asset, the company will sell the interest in Joslyn, a development controlled and operated by French oil and gas giant Total SA.
Enerplus – Wikipedia
To order copies of Toronto Star articles, please go to: Follow us on Twitter globebusiness Opens in a new window. All articles lacking reliable references Articles lacking reliable references from May Official website different in Wikidata and Wikipedia. The Enerplus announcement reflects a eneprlus for energy trusts to move from conventional plays into the larger, less risky oil sands, analyst William Lacey, with FirstEnergy Capital said.
Tickers mentioned in this story Data Update Unchecking box will stop auto data updates. In addition to the Joslyn assets, the company also has a stake in the Surmont leases as the French-owned company expands to become a growing Alberta oil kiryb developer.
Non-subscribers can read and sort comments but will not be able to engage with them in any way. The Joslyn project, in which Enerplus acquired its minority stake incould produce up to two billion barrels of bitumen over its planned 30 years of operation. We hope to have this fixed soon.
It was Canada’s first income trust. This was enerplu because of changes in the taxation rules for income trusts. It has three main areas of operation:. Enerplus was established in by Marcel Tremblay, a pension fund manager and John Brussa, a lawyer. You can always change the information you share with us by editing your profile.
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Enerplus confirms sale of stake in Joslyn
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It was originally called Enerplus Resources Fundand it was Canada’s first income trust. Enerplus Resources Fund, a Calgary-based oil and gas trust, will go ahead with the planned sale of its minority stake in the Joslyn oil sands project in northern Alberta, the company said Friday as it reported higher profit and revenue. The information below will be used to optimize the content and make ads across the network more relevant to you.
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Enerplus Corporation converted from an income trust to a corporate entity enerpplus January 1,after receiving approval by This page was last edited on 12 Augustat Total Kirbt would seem a likely buyer for Enerplus’s stake, especially if the French oil company wants to expand its share of production of the oil sands project to feed future refining operations to give the company more value-added oil products to sell.
The acquisition was announced after the close of markets. Visit our FAQ page for more information. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, and please keep your comments relevant and respectful. I’m a print subscriber, link to my account Subscribe to comment Why do I need to subscribe? The acquisition changed the company’s output to just over 60 per cent natural gas and 40 per cent crude oil and natural gas liquids in its portfolio.
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