In this video, energy analyst Joel South discusses Enerplus' (ERF 0.59%) 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.
