Feb 19 (Reuters) - Enerplus Corp ERF.TO :
* Announces strong 2015 results; low cost reserves additions and reduced 2016
budget and dividend
* Says delivered fourth quarter production of 106,905 boe per day
* Has also reduced its 2016 capital budget a further 43% to $200 million
* Board of directors has approved a reduction in the monthly dividend to $0.01
per share from $0.03 per share
* Says board of directors has approved a reduction in the monthly dividend to
$0.01 per share from $0.03 per share
* Revised production guidance for 2016 is 90,000 - 94,000 boe per day
* Additionally, as a result of divestments, Enerplus expects to record a gain
of $145 million in the first quarter of 2016
* If current commodity price levels persist, co would expect to begin
negotiating covenant amendments with its lenders towards the end of 2016
* For Q1 2016, have hedged 17,000 barrels per day of crude oil which represents
approximately 55% of 2016 forecasted net oil production
* During Q2, have hedged 11,000 barrels per day, which represents about 36% of
2016 forecasted net oil production, after royalties
* For Q3, Q4 2016, have hedged 8,000 barrels per day which represents about 26%
of 2016 forecasted net oil production, after royalties
* Fourth quarter funds flow was $103 million ($0.50 per share), down
approximately 15% from the previous quarter
* Source text for Eikon Further company coverage ERF.TO