COMMITMENTS, CONTINGENCIES AND GUARANTEES (Tables)

12 Months Ended

Dec. 31, 2015

COMMITMENTS, CONTINGENCIES AND GUARANTEES

Schedule of minimum annual commitments

Enerplus has the following minimum annual commitments at December 31, 2015:

			Minimum Annual Commitment Each Year
($ thousands)		Total		2016		2017		2018		2019		2020		Thereafter
Bank credit facility(1)	$	86,543	$	–	$	–	$	86,543	$	–	$	–	$	–
Senior notes(1)		1,137,139		–		62,280		62,280		92,280		160,483		759,816
Transportation commitments(2)		189,598		39,464		30,342		16,033		14,165		13,134		76,460
Processing commitments		57,966		12,426		11,989		10,553		10,539		1,684		10,775
Drilling and completions		8,456		6,567		1,889		–		–		–		–
Office leases		103,170		11,640		11,756		11,680		10,264		10,816		47,014
Total commitments(3)(4)	$	1,582,872	$	70,097	$	118,256	$	187,089	$	127,248	$	186,117	$	894,065

(1)	Interest payments have not been included. Subsequent to December 31, 2015, Enerplus repaid US$57 million in senior notes.
(2)	Subsequent to December 31, 2015, Enerplus was approved for a binding bid for interstate pipeline capacity on the Tennessee Gas Pipeline from Enerplus' Marcellus production region to downstream connections. Effective August 1, 2016, Enerplus is committed for a demand toll of up to US$0.63/Mcf on up to 30,000 Mcf/d for a maximum of 20 years, with a total estimated commitment of $148.3 million from 2016 through 2036.
(3)	Crown and surface royalties, production taxes, lease rentals and mineral taxes (hydrocarbon production rights) have not been included as amounts paid depend on future ownership, production, prices and the legislative environment.
(4)	US$ commitments have been converted to CDN$ using the December 31, 2015 foreign exchange rate of 1.3840.