Enerplus Corporation is one of Canada’s largest independent oil and gas producers. It holds oil and natural gas property interest in the United States and in western Canada, in the provinces of Alberta, British Columbia and Saskatchewan.
Canada's first income fund,[3] the firm is based in Calgary, Alberta and traded on both the Toronto Stock Exchange and the New York Stock Exchange before being acquired by Chord Energy.
History
Enerplus was established in 1986 by Marcel Tremblay, a pension fund manager and John Brussa, a lawyer. It was originally called Enerplus Resources Fund, and it was Canada's first income trust. Its original purpose was to provide income from mature, aging oil and gas assets to retail investors, taking advantage of the tax advantages of the income trust structure. It started trading on the Toronto Stock Exchange in 1986 with a $10 million IPO.[3]
In 1996, Mark Resources renamed itself Enermark, became an income trust, and joined the Enerplus group of companies. This was at the behest of Enerplus's then-CEO, Marcel Tremblay, in response to a hostile take-over attempt.