In this edition, energy analysts Joel South and Taylor Muckerman discuss the recent ventures of Enerplus (NYSE:ERF) and what they mean for long term investors.
Enerplus recently unloaded $220 million acres in Manitoba, which management considered non-core assets for its near-term goals. The proceeds will reduce the company's debt in addition to increasing its Sleeping Giant position in the Williston Basin. Enerplus plans on riding this increased position to profitability, focusing 2013 capital expenditures on growing oil and liquids production. With increased oil production expected in 2013 and a stronger balance sheet, Enerplus should have the ability to keep its dividend intact for 2013.
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 Devon Energy. 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.