INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

INCOME TAXES

Schedule of the Company's provision for income taxes

($ thousands)			2015			2014			2013
Current tax expense/(recovery)
	Canada	$	(795	)	$	(543	)	$	(621	)
	United States		(16,092	)		5,541			8,510
Current tax expense/(recovery)			(16,887	)		4,998			7,889
Deferred Tax expense/(recovery)
	Canada	$	(52,603	)	$	64,746		$	(21,166	)
	United States		(97,985	)		68,084			51,919
Deferred tax expense/(recovery)			(150,588	)		132,830			30,753
Income tax expense/(recovery)		$	(167,475	)	$	137,828		$	38,642

Schedule of reconciliation of income taxes calculated at the Canadian statutory rate to the actual income taxes

($ thousands)			2015			2014			2013
Income/(loss) before taxes
	Canada	$	(500,113	)	$	247,856		$	(74,946	)
	United States		(1,190,765	)		189,048			161,564
Total income/(loss) before taxes			(1,690,878	)		436,904			86,618
Canadian statutory rate			27.00%			25.35%			25.35%
Expected income tax expense/(recovery)		$	(456,537	)	$	110,755		$	21,958
Impact on taxes resulting from:
	Foreign tax rate differential	$	(173,388	)	$	11,242		$	10,407
	Statutory and other rate differences		(6,421	)		(38	)		(1,976	)
	Change in valuation allowance		443,655			8,007			(690	)
	Non-taxable capital (gains)/losses		23,450			8,318			4,884
	Share-based compensation		4,395			2,636			2,335
	Other		(2,629	)		(3,092	)		1,724
Income tax expense/(recovery)		$	(167,475	)	$	137,828		$	38,642

Schedule of deferred income tax asset (liability)

($ thousands)			2015			2014
Deferred income tax liabilities
	Property, plant and equipment	$	–		$	(187,080	)
	Deferred financial assets and credits		(17,319	)		(55,348	)
Total deferred income tax liabilities			(17,319	)		(242,428	)
Deferred income tax assets
	Property, plant and equipment	$	382,454		$	–
	Tax loss carry-forwards and other credits		672,193			610,177
	Asset retirement obligation		57,364			74,335
	Other assets		36,156			15,879
Total deferred income tax assets			1,148,167			700,391
Less valuation allowance			(614,763	)		(160,651	)
Total deferred income tax assets, net			533,404			539,740
Net deferred income tax asset		$	516,085		$	297,312

Schedule of loss carryforwards and tax credits that can be utilized in future years

As at December 31 ($ thousands)			2015	Expiration Date
Canada
	Capital losses	$	1,171,000	Indefinite
	Non-capital losses		361,000	2028-2034
United States
	Net operating losses	$	748,000	2030-2035
	Alternative minimum tax credits		117,000	Indefinite

Schedule of changes in the balance of Enerplus' unrecognized tax benefits

For the years ended December 31 ($ thousands)		2015			2014			2013
Balance, beginning of year	$	17,000		$	18,000		$	18,500
Increase/(decrease) for tax positions of prior years		(300	)		2,700			(500	)
Settlements		(1,600	)		(3,700	)		–
Balance, end of year	$	15,100		$	17,000		$	18,000

Summary of the taxation years, by jurisdiction, that remain subject to examination by the taxation authorities

Jurisdiction	Taxation Years
Canada – Federal & Provincial	2004-2015
United States – Federal & State	2008-2015