Enerplus Releases its 2022 ESG Report

Source: www.gulfoilandgas.com 6/22/2022, Location: North America

Enerplus Corporation announced the release of its 2022 ESG report, which provides an update on its environmental, social and governance ("ESG") initiatives. Enerplus continues to prioritize ESG focus areas that have the greatest financial impact, or which are operationally important to the organization in reducing risk, enhancing long-term business resilience and profitability, and supporting access to capital. Enerplus' board of directors continues to be actively engaged in the Company's approach to managing ESG issues under a governance framework that provides clear oversight and accountability.

Highlights of the 2022 ESG report are provided below.

HEALTH & SAFETY
• Achieved zero lost time injuries in 2021 and a company record of 116 consecutive incident free days
• Meaningful progress on safety initiatives with achievement of a two-year average lost time injury frequency reduction of 80%, compared to the 2019 baseline

GREENHOUSE GAS EMISSIONS MANAGEMENT
• Reduced methane emissions intensity by 35% in 2021, compared to the 2019 baseline, through the deployment of air-driven pneumatic controllers and improved facility designs
• New mid-term and longer-term methane emissions intensity reduction targets of 30% by 2025 and 50% by 2030, compared to a 2021 baseline
• Reduced scope 1 and 2 greenhouse gas ("GHG") emissions intensity by 25% in 2021, compared to the 2019 baseline, through the Company's methane reduction initiatives, the installation of vapor recovery units, and operational optimizations
• Rebased the 2030 scope 1 and 2 GHG emissions intensity reduction target to 2021 (from 2019) to reflect the impact of recent acquisitions. This has resulted in an update to the Company's reduction target to 35% (from 50%), which represents a greater intensity reduction, equating to 21.5 KG/BOE by 2030, compared to 22.5 KG/BOE previously.

WATER MANAGEMENT
• Reduced freshwater use per well completion in North Dakota by 31% in 2021, compared to the 2019 baseline, by recycling produced formation water in several well fracturing operations, displacing the need for freshwater
• Continuing to work towards a longer-term target of using 50% or greater of produced water per well completion corporately by 2025

In addition to the targets and initiatives highlighted above, Enerplus has established goals and objectives across its other material ESG focus areas which are discussed in detail within the report. The report also details emerging focus areas that have the potential to be material to the organization and other areas which the Company continues to actively manage.

Enerplus' report has been prepared in accordance with the SASB Oil & Gas – Exploration & Production Standard materiality map and the GRI Standards: Core option. The report has also been prepared in alignment with the International Petroleum Industry Environmental Conservation Association's (IPIECA) Oil and Gas industry guidance on voluntary sustainability reporting (a joint publication with the American Petroleum Institute and the International Association of Oil & Gas Producers). Enerplus' second TCFD Aligned Reporting Table will be published in conjunction with this report. Enerplus engaged an independent auditor to review select metrics within the report and received limited assurance for select environmental, safety and production metrics one year ahead of its target.


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