Enerplus is among an extensive group of companies that used to be set up as Canadian royalty trusts. The status gave Enerplus and peers Penn West Petroleum ( NYS: PWE ) and Pengrowth Energy ( NYS: PGH ) tax advantages over regular Canadian corporations. But after changes in Canadian tax law, Enerplus had to convert to corporate status, and like Penn West and Pengrowth, Enerplus cut its dividend in part to offset the higher tax costs.