Enerplus Q4 Profit Down - Quick Facts

(RTTNews) - Enerplus Corp.(ERF, ERF.TO), an explorer of crude oil and natural gas, said that its fourth-quarter net income dropped to C$29.63 million from last year's C$34.64 million, with earnings per share declining to C$0.15 from C$0.17 in the same quarter last year.

Funds Flow for the quarter slipped to C$180.74 million from C$200.41 million in the year ago quarter. Funds Flow per share was C$0.89 down from C$1.01 in the previous year.

The company expects to produce an average of 96,000 - 100,000 BOE/day in 2014, an increase of 9% year-over-year or 8% per share using the mid-point of this range. It expects continued growth from its U.S. oil properties at Fort Berthold where it anticipates that average annual production will increase by approximately 30% in 2014, driving its light crude oil volumes to 67% of its total oil production. Total crude oil and natural gas liquids production is expected to increase by approximately 12%. Natural gas production is expected to increase by 7% averaging over 300 MMcf per day with the majority of the growth attributable to the Marcellus. The company's U.S. assets are anticipated to account for over 50% of our corporate production volumes in 2014.

Enerplus also announced that a cash dividend in the amount of C$0.09 per share will be payable on March 20, 2014 to all shareholders of record at the close of business on March 5, 2014. The ex-dividend date for this payment is March 3, 2014.