CALGARY,
AB, June 22, 2023 /CNW/ - Enerplus Corporation
("Enerplus" or the "Company") (TSX: ERF) (NYSE: ERF) today
announced the release of its 2023 ESG report, which provides an
update on its environmental, social and governance ("ESG")
initiatives. Enerplus continued to make progress integrating its
ESG focus areas throughout the organization in 2022, which it
believes is important to mitigating risk and supporting the
company's long-term resilience. The 2023 ESG report is
available on Enerplus' website at www.enerplus.com.
Highlights of the 2023 ESG report are provided below.
HEALTH & SAFETY
- Strong safety performance in 2022, with one lost time
injury.
- Since 2020, Enerplus has achieved a three-year average
reduction in annual lost time injury frequency of 79%, compared to
the 2019 baseline.
- Year to date, the Company has had no lost time injuries.
EMISSIONS MANAGEMENT
- Reduced scope 1 and 2 greenhouse gas ("GHG") emissions
intensity by 14% in 2022, compared to the 2021 baseline. The
Company has a long-term scope 1 and 2 GHG emissions intensity
reduction target of 35% by 2030 from a 2021 baseline, equating to
21.5 kg CO2e/BOE.
- Enerplus is continuing to drive meaningful improvements to its
GHG emissions profile and anticipates its 2023 scope 1 and 2 GHG
emissions intensity will be approximately 23 kg CO2e/BOE,
representing a 30% reduction compared to 2021 (and an approximate
50% reduction compared to 2019). Given this performance, the
Company anticipates achieving its long-term GHG emissions intensity
reduction target as early as 2024 and plans to provide an updated
long-term target in due course.
- Reduced methane emissions intensity by 4% in 2022, compared to
the 2021 baseline.
- Based primarily on work completed in 2022, methane emissions
intensity in 2023 is expected to be approximately 0.055 kg CH4/BOE,
representing a 20% reduction from the 2021 baseline. Enerplus
remains on track to achieve its mid- and long-term methane
emissions intensity reduction targets of 30% by 2025 and 50% by
2030, compared to a 2021 baseline.
WATER MANAGEMENT
- Produced water inclusion rate in North Dakota well completions was 36% in 2022,
compared to the 2019 baseline of zero, providing a significant
reduction in freshwater use.
- Revised the 2023 water management target to better align to
water availability following Enerplus' 2021 acquisitions that
expanded the scale of operations to Dunn and Williams counties. Enerplus is working toward
a produced water inclusion rate of 25% or more, per well completion
in North Dakota between 2023 to
2025.
The ESG report includes additional information on the
performance, targets and material focus areas highlighted above as
well as other pertinent information about Enerplus' ESG framework
and related areas which the Company is actively managing.
Enerplus' report has been prepared in accordance with the SASB
Oil & Gas – Exploration & Production Standard materiality
map and the GRI 11 Oil & Gas Sector 2021 Standards. The report
has also been prepared in alignment with the International
Petroleum Industry Environmental Conservation Association's
(IPIECA) Oil and Gas industry guidance on voluntary sustainability
reporting (a joint publication with the American Petroleum
Institute and the International Association of Oil & Gas
Producers). Enerplus' TCFD Aligned Reporting Table will be
published in conjunction with this report. Enerplus engaged an
independent auditor to review select metrics within the report and
received a limited assurance statement for select environmental,
safety and production metrics.
About Enerplus
Enerplus is an independent North American oil and gas
exploration and production company focused on creating long-term
value for its shareholders through a disciplined, returns-based
capital allocation strategy and a commitment to safe, responsible
operations. For more information, visit the Company's website at
www.enerplus.com.
Follow @EnerplusCorp on Twitter at
https://twitter.com/EnerplusCorp.
NOTICE REGARDING INFORMATION CONTAINED IN THIS NEWS
RELEASE
This news release contains certain forward-looking
information and statements ("forward-looking information") within
the meaning of applicable securities laws. The use of any of the
words "expect", "anticipate", "target", "strategy", "approach",
"objectives", "goals" and similar expressions are intended to
identify forward-looking information. In particular, but without
limiting the foregoing, this news release contains forward-looking
information pertaining to the following: our plans and goals to
reduce our greenhouse gas (including scope 1 and scope 2) and
methane emissions and emissions intensity, including specific
targets for such reductions within certain timeframes; our planned
reductions to our freshwater use and increased use of produced
water in our operations; our health and safety objectives,
including reduction of lost time injury frequency and other
workplace injuries and incidents; our ongoing overall governance
approach to ESG efforts and disclosure and ability to implement
these goals, objectives and actions, including within the
timeframes described herein.
The forward-looking information contained in this news
release reflects several material factors and expectations and
assumptions of Enerplus including, without limitation: that we will
conduct our operations and achieve results of operations as
anticipated, including with respect to reduced GHG and methane
emissions and reduced freshwater use and increased produced water
use; estimates relating to our GHG and methane emissions intensity
and freshwater use and ability to reduce same; the availability and
cost of technology and processes to achieve our ESG targets; the
general continuance of current or, where applicable, assumed or
predicted industry regulations and conditions; the continuation of
assumed tax, royalty and regulatory regimes; the continued
availability of adequate debt and/or equity financing and cash from
our operations to fund our capital, operating and working capital
requirements, and dividend payments as needed; and the availability
of third party service providers and their ability to comply with
our ESG-related initiatives. Enerplus believes the material
factors, expectations and assumptions reflected in the
forward-looking information are reasonable, but no assurance can be
given that these factors, expectations and assumptions will prove
to be correct. The forward-looking information included in this
news release is not a guarantee of future performance and should
not be unduly relied upon. Such information involves known and
unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking information including, without
limitation: changes in the demand for or supply of our products,
including global energy demand and including as a result of ongoing
disruptions to global supply chains; unanticipated operating
results or results from our capital spending activities, including
with respect to our initiatives to reduce GHG and methane emissions
and our freshwater use and to increase the amount of produced water
used in our operations; changes in tax or environmental laws or
other regulatory matters and increased capital and operating costs
resulting therefrom; inability to comply with applicable
environmental government regulations or regulatory approvals and
resulting compliance and enforcement actions; changes in our
capital plans or by third party operators of our properties;
increased debt levels or debt service requirements; reliance on
industry partners and third party service providers to achieve our
objectives; and certain other risks detailed from time to time in
our public disclosure documents (including, without limitation,
those risks identified in our Annual Information Form, Management's
Discussion and Analysis, and Form 40-F each dated February 23, 2023 and our additional continuous
disclosure documents filed from time to time with the Canadian and
U.S. securities regulatory authorities and available at
www.sedar.com and www.sec.gov/edgar).
Readers are cautioned that the foregoing lists are not
exhaustive. The forward-looking information contained in this news
release speaks only as of the date of this news release. Enerplus
does not undertake any obligation to publicly update or revise any
forward-looking information contained herein as a result of new
information or future events, except as required by applicable
laws. Any forward-looking information contained herein is expressly
qualified by this cautionary statement.
For further information, including financial and operating
results and the most recent corporate presentation, please visit
www.enerplus.com or phone 1-800-319-6462. Shareholders may, upon
request, obtain a hard copy of Enerplus' complete audited financial
statements free of charge.
SOURCE Enerplus Corporation