In this video, energy analyst Joel South discusses Enerplus' recent decision to sell its valuable oil assets in Manitoba for $220 million in order to reduce its debt as well as expand its working interest in the company's Sleeping Giant play in the Williston Basin.
At 4.2 times annual funds flow, the increased position in the Williston provides Enerplus with tremendous value in additional to centralizing its operations. Enerplus also see additional benefits from this light oil play with infill drilling in addition to using enhanced oil recover techniques to increase production. Check out the video below for more information on Enerplus and what you could expect from the company in 2013.
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The article The Richest Oil Play in the US: Who Is Increasing Their Stake? originally appeared on Fool.com.
Joel South has no positions in the stocks mentioned above. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool owns shares of Kinder Morgan. Motley Fool newsletter services recommend Kinder Morgan. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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