Enerplus Corp. says it had a small fourth-quarter loss last year as it prepared to convert from an income trust to a corporate structure at the beginning of 2011.
The loss was just under $1-million or 1 cent per unit. For the year as a whole, Enerplus had a profit of $127.1-million or 72 cents per unit, Enerplus said Friday.
The Calgary-based oil and gas producer didn't reveal the trust's revenue but noted that cash flow from operations was down in the fourth quarter compared with the year-earlier output.
Enerplus generated $146.8-million of cash flow from operations, or 82 cents per unit, in the fourth quarter. That was down from $188.6-million or $1.07 per unit in the fourth quarter of 2009.
Cash distributions to unit holders was steady at 54 cents per unit. In the fourth quarter of 2010, cash distributions totalled $96.4-million, compared with $95.6-million in the fourth quarter of 2009.