Enerplus Corp. Q2 Profit Down - Quick Facts

(RTTNews) - Enerplus Corporation (ERF.TO, ERF), an explorer of crude oil and natural gas, Friday reported a decrease in the second-quarter net income to C$52.6 million or C$0.26 per share from C$100.2 million or C$0.51 per share last year.

Funds Flow increased 40 percent to C$204.7 million or C$1.02 per share from C$146.5 million or C$0.74 per share a year ago. The company said this was driven by higher production and a significant improvement in its netback as a result of higher realized commodity prices. Daily production was up 10 percent over the second quarter of last year.

Looking forward, the company said: "We remain on track to meet our other guidance targets for 2013, with the exception of cash equity-based compensation expenses which we are increasing to C$0.60 per BOE from C$0.45 per BOE given the increase in our share price to date in 2013."