Canada-based Enerplus Resources Fund has sold its working interest in the Kirby oil sands lease for $405m.

The company has also sold the 2,500boe/day of non-core production and 9.3 million boe of proved plus probable reserves for proceeds of $158.5m ($153m after closing adjustments).

This production was comprised of 54% crude oil and natural gas liquids and 46% natural gas located primarily in British Columbia and Alberta from approximately 70 properties.

The proceeds of these sales will be used to reduce outstanding bank debt resulting from Bakken/tight oil and Marcellus property acquisitions, the company said.