Enerplus sells Laricina stake for 141million aims to pay down debt

CALGARY — Enerplus Corp. is selling its stake in private oilsands developer Laricina Energy Ltd. for $141-million.The Calgary-based oil and gas company said in a release Monday the proceeds will be used to pay down debt.“This is an important step in our plans to monetize non-core assets within our portfolio to fund the growth opportunities we have captured and preserve our balance sheet flexibility,” said Enerplus president and CEO Gordon Kerr.Shares in Enerplus rose eight cents to close at $15.39 on the Toronto Stock Exchange.Enerplus produces oil and gas in British Columbia, Alberta, Saskatchewan and Manitoba. In the United States, it produces oil in Montana and North Dakota and natural gas from the Marcellus formation in Pennsylvania, West Virginia and Maryland. read more