Aug 10 Canadian oil and gas producer Enerplus
Corp's second-quarter profit fell 63 percent on weak
natural gas prices, but it raised its average production
forecast for the year.
The company now expects 2012 production to average 83,500
barrels of oil equivalent per day (boe/d), up from its prior
forecast of 83,000 boe/d.
Net income fell to C$100.3 million ($101.1 million), or 51
Canadian cents per share, from C$268 million, or C$1.50 per
share, a year earlier.
Average production rose 9 percent to 82,108 barrels of oil
equivalent per day.
Natural gas prices have fallen 46 percent in the
April-June quarter from last year to average $2.4 per million
British thermal unit.