CALGARY,
AB, June 22, 2022 /CNW/ - Enerplus
Corporation ("Enerplus" or the "Company") (TSX: ERF) (NYSE: ERF)
today announced the release of its 2022 ESG report, which provides
an update on its environmental, social and governance ("ESG")
initiatives. Enerplus continues to prioritize ESG focus areas that
have the greatest financial impact, or which are operationally
important to the organization in reducing risk, enhancing long-term
business resilience and profitability, and supporting access to
capital. Enerplus' board of directors continues to be actively
engaged in the Company's approach to managing ESG issues under a
governance framework that provides clear oversight and
accountability. The 2022 ESG report is available on Enerplus'
website at www.enerplus.com.
Highlights of the 2022 ESG report are provided below.
HEALTH & SAFETY
- Achieved zero lost time injuries in 2021 and a company record
of 116 consecutive incident free days
- Meaningful progress on safety initiatives with achievement of a
two-year average lost time injury frequency reduction of 80%,
compared to the 2019 baseline
GREENHOUSE GAS EMISSIONS MANAGEMENT
- Reduced methane emissions intensity by 35% in 2021, compared to
the 2019 baseline, through the deployment of air-driven pneumatic
controllers and improved facility designs
- New mid-term and longer-term methane emissions intensity
reduction targets of 30% by 2025 and 50% by 2030, compared to a
2021 baseline
- Reduced scope 1 and 2 greenhouse gas ("GHG") emissions
intensity by 25% in 2021, compared to the 2019 baseline, through
the Company's methane reduction initiatives, the installation of
vapor recovery units, and operational optimizations
- Rebased the 2030 scope 1 and 2 GHG emissions intensity
reduction target to 2021 (from 2019) to reflect the impact of
recent acquisitions. This has resulted in an update to the
Company's reduction target to 35% (from 50%), which represents a
greater intensity reduction, equating to 21.5 KG/BOE by 2030,
compared to 22.5 KG/BOE previously.
WATER MANAGEMENT
- Reduced freshwater use per well completion in North Dakota by 31% in 2021, compared to the
2019 baseline, by recycling produced formation water in several
well fracturing operations, displacing the need for freshwater
- Continuing to work towards a longer-term target of using 50% or
greater of produced water per well completion corporately by
2025
In addition to the targets and initiatives highlighted above,
Enerplus has established goals and objectives across its other
material ESG focus areas which are discussed in detail within the
report. The report also details emerging focus areas that have the
potential to be material to the organization and other areas which
the Company continues to actively manage.
Enerplus' report has been prepared in accordance with the SASB
Oil & Gas – Exploration & Production Standard materiality
map and the GRI Standards: Core option. 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'
second 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
limited assurance for select environmental, safety and production
metrics one year ahead of its target.
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 statements
and forward-looking information (collectively referred to as
"forward-looking information") within the meaning of applicable
securities legislation regarding current expectations, estimates
and projections about the future, based on certain assumptions made
by Enerplus in light of its experience and perception of historical
trends. Although Enerplus believes the expectations represented by
such forward-looking information are reasonable, there can be no
assurance that such expectations will prove to be correct. Readers
are cautioned not to place undue reliance on forward-looking
information as actual results may differ materially from those
expressed or implied. Forward-looking information in this document
includes statements about pursuing and achieving targets,
commitments and ambitions for Enerplus' ESG focus areas and, in
particular and without limiting the generality of the foregoing,
Enerplus' current plans and 2030 GHG emissions intensity targets,
including its 2025 and 2030 methane reduction targets, and its
expectation regarding its 2025 target for use of produced water in
Enerplus' well completions, and Enerplus' ability to achieve its
targets, goals and objectives.
The forward-looking information contained in this press
release reflects several material factors and expectations and
assumptions of Enerplus including, without limitation: in respect
of Enerplus' emissions intensity reduction targets and its use of
produced water in its wells completions; Enerplus' ability to
conduct its operations and achieve results of operations as
anticipated, including in respect of effectiveness of its
operational planning pertaining to its flaring; the successful
implementation of Enerplus' proposed or potential strategies and
plans to reduce GHG emissions and freshwater use; projected capital
investment levels, the flexibility of Enerplus' capital spending
plans and the associated source of funding; Enerplus' ability to
otherwise access and implement all technology necessary to achieve
its current and future GHG and methane emissions and freshwater
usage reduction targets, the development and performance of
technology and technological innovations and the future use and
development of technology and associated expected future results;
current commodity price and cost assumptions; the general
continuance of current or, where applicable, assumed industry
conditions; the continuation of assumed tax, royalty and regulatory
regimes; Enerplus' ability to otherwise access and implement all
technology necessary to achieve its targets, commitments and
initiatives, continuing collaboration with certain regulatory and
environmental groups; the accuracy of the estimates of Enerplus'
reserves and resources volumes; the continued availability of
adequate debt and/or equity financing, cash flow and other sources
to fund Enerplus' capital and operating requirements; availability
of third party services; and the extent of its liabilities.
The forward-looking information included in this press
release involves known and unknown risks, uncertainties and other
factors including, without limitation: Enerplus' ability to
develop, access or implement some or all of the technology
necessary to efficiently and effectively operate assets and achieve
expected future results, including in respect of GHG and methane
emissions reduction targets and freshwater use reduction targets;
the development and execution of implementing strategies to meet
Enerplus' targets; impediments generally to Enerplus' operations in
respect of Enerplus meeting its targets and commitments as they
relate to its ESG focus areas; continued instability, or further
deterioration, in global economic and market environment, including
from COVID-19, inflation and/or the Ukraine/Russia conflict and heightened geopolitical
risks; changes, including future decline, in commodity prices;
changes in realized prices for Enerplus' products; changes in the
demand for or supply of Enerplus' products; unanticipated operating
results, results from Enerplus' capital spending activities or
production declines; changes in tax or environmental laws, royalty
rates or other regulatory matters; changes in development plans by
Enerplus or by third party operators of Enerplus' properties;
increased debt levels or debt service requirements; changes in
estimates of Enerplus' oil and gas reserves and resources volumes;
limited, unfavourable or a lack of access to capital markets;
increased costs; a lack of adequate insurance coverage; the impact
of competitors; reliance on industry partners; failure to complete
any anticipated acquisitions or divestitures; and certain other
risks detailed from time to time in Enerplus' public disclosure
documents (including, without limitation, those risks identified in
the 2022 ESG Report, its most recent quarterly management's
discussion and analysis and its annual information form,
management's discussion and analysis, and Form 40-F at December 31, 2021).
Readers are cautioned that the foregoing lists are not
exhaustive and are made as at the date hereof. Enerplus disclaims
any intention or obligation to update or revise any forward-looking
statements in this press release as a result of new information or
future events, except as may be required under applicable U.S.
federal securities laws or applicable Canadian securities
legislation.
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