The company will use the earnings from the transaction to repay its outstanding bank debts.
Enerplus president and CEO Gordon Kerr said, "This is an important step in our plans to monetize non-core assets within our portfolio to fund the growth opportunities we have captured and preserve our balance sheet flexibility."
Canada-based Laricina Energy is a private company focused on in situ oil sands development.
Enerplus is a Canadian company and an energy producer with a diversified asset base of oil and gas assets.
The company hired BMO Capital Markets to act as the agent for the transaction.
