CALGARY, AB, June 23, 2021 /CNW/ - Enerplus Corporation
("Enerplus", or the "Company") (TSX: ERF & NYSE: ERF) today
announced the release of its 2021 ESG report, which provides an
update on the Company's progress relative to 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 2021 ESG report is
available on Enerplus' website at www.enerplus.com.
Highlights of the 2021 ESG report are provided below.
HEALTH AND SAFETY
- Achieved the best safety performance in the Company's history
in 2020, improving lost time injury frequency ("LTIF") by 67%
compared to 2019
- Continued focus on keeping employees safe with an ongoing goal
of collaborating with employees and peers on safety learnings and
to reduce LTIF by 25%, on average, from 2020 to 2023, relative to
2019
GREENHOUSE GAS EMISSIONS MANAGEMENT (1)
- Reduced greenhouse gas ("GHG") emissions intensity by 24% in
2020 compared to 2019, through innovation and operational
efficiencies
- Introduced a methane emissions intensity reduction target of
20% by the end of 2022, relative to the 2019 baseline
- Continuing to evolve emission reduction strategies in pursuit
of the Company's 2030 GHG emissions intensity reduction target of
50%
(1)
|
Enerplus' GHG
emissions reduction targets address scope 1 and 2 emissions,
relative to the 2019 baseline.
|
WATER MANAGEMENT
- Reduced freshwater use per well completion in North Dakota by 23% in 2020 compared to 2019,
by recycling produced formation water in several well fracturing
operations, displacing the need for freshwater
- Targeting a 25% reduction in freshwater use per well completion
in 2021, on average compared to 2019, in the Company's Fort
Berthold operations
- Continuing to target a 50% reduction in freshwater use per well
completion corporately by 2025, compared to the 2019 baseline
The Company's ESG performance continues to be integrated into
all aspects of its business, as evidenced by its
Sustainability-Linked Credit Facility announced on April 29th, 2021. In addition to this, Enerplus
continues to establish goals and objectives across its ESG focus
areas which are discussed in detail within the report. Enerplus
also expanded its ESG focus areas beyond those known to be
"material" focus areas, incorporating "emerging" issues, which have
the potential to be material to the organization.
Enerplus' report continues to be prepared in accordance with the
Sustainability Accounting Standards Board (SASB), Global Reporting
Initiatives (GRI) disclosure frameworks and the International
Petroleum Industry Environmental Conservation Association's
(IPIECA) Oil and gas industry guidance on voluntary sustainability
reporting. The 2021 ESG report also includes additional disclosures
in alignment with the Task Force on Climate-Related Financial
Disclosures (TCFD) recommended guidelines.
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.
Advisory Forward-Looking Information
This document
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 2022 methane reduction targets, Enerplus' expectation
regarding its 2021 and 2025 targets for reductions in freshwater
use in Enerplus' well completion operations in North Dakota, and its average 2020 to 2023
target regarding LTIF, 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 target and reduction in
freshwater use in its North Dakota
operations, 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, freshwater use reduction and health
and safety 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; 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 2021
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,
2020).
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