BUZZ-Enerplus Corp: Raises 2015 average production forecast

Wed Jun 10, 2015 11:33am EDT
 
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** Canadian oil and gas producer's Toronto-listed shares up 7.8 pct at C$11.96

** U.S.-listed shares up 9.6 pct at $7.79

** Company raises 2015 average production forecast to 97,000-103,000 barrels of oil equivalent (boe) per day, from 93,000-100,000 boe earlier

** Increases 2015 capital budget to $540 million from $480 million

** The company also announced its intention to accelerate completion of eight North Dakota oil wells at a cost of $60 million

** National Bank Financial raises PT on Toronto-listed stock to C$15.50 from C$15, saying Enerplus is "one of the first companies to increase its capital program in the current market"

** Median PT on stock is $15.00

** Up to Tuesday's close, U.S.-listed shares had fallen 6.5 pct this year