Sucking sound: Enerplus planning to exit Canada by mid-year, focus on U.S.

BNN: "The Calgary-based company said it hopes to complete the sale process by mid-2022, and added that it’s planning to continue having a head office in Canada. The release did not reveal if the company intends to redomicile in the U.S.

"For many Canadian energy investors, the move might ring a familiar bell, after a string of oil producers – mostly U.S. multinationals – either exited or scaled back their operations in Canada’s oil patch in the years following the 2014 collapse in crude prices.

"Enerplus Chief Executive Officer Ian Dundas has been among the most vocal critics of the Canadian regulatory regime for oil and gas firms, repeatedly bemoaning the conditions in Canada compared to those in the United States. In interviews dating back as far as 2018, Dundas has described Canada as a “terrible operating environment” and one “in crisis”, all while the company shifted some 90 per cent of its operations south of the border."