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Whitecap Resources Inc (WCP.TO)

WCP.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Whitecap Resources announces acquisition of world class enhanced oil recovery project
Monday, 13 Nov 2017 04:32pm EST 

Nov 13 (Reuters) - Whitecap Resources Inc :Whitecap Resources Inc. announces acquisition of world class enhanced oil recovery project, $425 million financing, dividend increase of 5% and significantly enhanced free funds flow.Whitecap Resources - Entered into an agreement to purchase light oil assets in southeast saskatchewan for cash consideration of $940 million​.Whitecap Resources - Deal to be funded with a $92.5 million non-brokered private placement, $332.5 million bought deal equity financing​.Whitecap Resources-Deal includes 62.1% operated working interest in weyburn unit, 200 boe/d of production from minor assets in Southeast Saskatchewan​.Whitecap Inc - ‍In 2018, pro forma acquisition, co is set to deliver 14 - 16% production per share growth and 25% funds flow per share growth​.Whitecap Resources Inc - ‍Whitecap's credit facilities are anticipated to increase to $1.7 billion upon closing of acquisition​.Whitecap Resources -‍ Board approved additional 5% increase to monthly dividend to $0.0257 per share effective for January 2018 dividend​.Whitecap Resources Inc sees ‍2018 FFO per share post-deal $1.66​.Whitecap Resources Inc - Sees ‍2018 post-acquisition average production 73,600 boe/d - 74,800 boe/d ​.Whitecap Resources says ‍non-brokered private placement of 10.5 million subscription receipts at $8.80/subscription receipt for gross proceeds of $92.5 million.  Full Article

Whitecap Resources reports Q3 shr $0.01
Wednesday, 1 Nov 2017 04:00pm EDT 

Nov 1 (Reuters) - Whitecap Resources Inc :Whitecap resources inc. Announces third quarter 2017 results, 2018 per share growth and 5% dividend increase within funds flow.Whitecap resources inc qtrly ‍ petroleum and natural gas sales $232.9 million versus $178.5 million​.Whitecap resources inc - qtrly ‍shr $0.01​.Whitecap resources inc - ‍average production for quarter increased by 18% (17% per share) to 57,898 boe/d (82% oil and ngls)​.Whitecap resources inc - ‍ now forecasting a 2017 total payout ratio of 89% and $52 million of free funds flow​.Whitecap resources-recently identified in elnora nisku oil pool that natural aquifer is not fully supporting northeastern portion of pool as estimated​.Whitecap resources - board of directors has approved 2018 base capital budget of $370 million to $390 million which includes drilling of 240 (210.4 net) wells​‍.Whitecap resources - ‍ proactively limited production rate from elnora nisku oil pool with increasing and readjusting our water injection volumes​.  Full Article

Whitecap Resources Q2 EPS $0.12
Tuesday, 1 Aug 2017 04:00pm EDT 

Aug 1 (Reuters) - Whitecap Resources Inc :Announces second quarter 2017 results.‍Production averaged 56,266 BoE/D in q2/17 which was within our guidance of 56,000 - 57,000 BoE/D .Qtrly earnings per share $0.12.Average production for quarter negatively impacted by about 1,600 BoE/D due to third party facility downtime in west central Saskatchewan​.Qtrly petroleum and natural gas sales $243.3 million versus $135.6 million.Do not anticipate reducing our $300 million development capital budget for 2017.  Full Article

Whitecap Resources qtrly earnings per share $0.07
Wednesday, 3 May 2017 04:03pm EDT 

May 3 (Reuters) - Whitecap Resources Inc ::Whitecap Resources Inc announces first quarter 2017 results.Qtrly earnings per share $ 0.07.Whitecap Resources Inc - average production in Q1/17 increased to a record 55,886 boe/d, 10% higher than Q4/16.Whitecap Resources Inc - anticipate Q2/17 production volumes to be 57,000 - 59,000 boe/d.Whitecap Resources Inc - remain on track to meet full year guidance of 57,000 boe/d on $300 million of development capital.Q1 earnings per share view c$0.05 -- Thomson Reuters I/B/E/S.Qtrly funds flow per share increased by 50% from $0.22 per share for comparable period to $0.33 per share in Q1/17.  Full Article

Whitecap Resources reports qtrly EPS $0.51
Tuesday, 7 Mar 2017 06:30am EST 

Whitecap Resources Inc - : Qtrly earnings per share $0.51 . Announces fourth quarter and year end 2016 results . Whitecap resources inc qtrly average production of 50,612 boe/d in q4/16 compared to 42,067 boe/d in q4/15 .Whitecap Resources Inc- "Continue to be constructive on a crude oil price recovery in 2017".  Full Article

Whitecap Resources says Q4 average production of 50,600 BOE/D
Thursday, 5 Jan 2017 09:37am EST 

Whitecap Resources Inc : Whitecap Resources Inc announces closing of senior secured notes and provides operational update . Able to achieve Q4/16 average production of 50,600 BOE/D . FY average production for 2016 is anticipated to be 45,838 BOE/D which is 338 BOE/D above our earlier guidance of 45,500 BOE/D . Development capital spending for full year 2016 is anticipated to be within guidance of $175 million .Q4 production is 600 BOE/D above our guidance of 50,000 BOE/D.  Full Article

Whitecap Resources Q2 FFO per share $0.29
Thursday, 4 Aug 2016 03:00pm EDT 

Whitecap Resources Inc : Whitecap Resources Inc. announces second quarter 2016 results . Q2/2016 production averaged 40,388 boe/d, 5% higher than co's forecast of 38,500 boe/d . Qtrly FFO per share $0.29 .Whitecap Resources Inc says remain on track to meet 2016 average production guidance of 45,300 boe/d.  Full Article

Whitecap Resources says are on track to meet 2016 annual production guidance of 45,300 boe/d
Thursday, 23 Jun 2016 09:51am EDT 

Whitecap Resources Inc : Whitecap resources inc says are on track to meet 2016 annual production guidance of 45,300 boe/d . Says with closing of acquisition, whitecap's borrowing base has a lending value of approximately $1.3 billion . Says elected to maintain credit facility at current $1.1 billion .Whitecap resources inc says in 2017 based on us$55 /bbl wti, anticipate growing funds flow per share by 11% and production per share by 19%.  Full Article

Husky Energy sells certain assets for $595 million
Tuesday, 10 May 2016 04:08pm EDT 

Husky Energy Inc : Husky Energy sells southwest Saskatchewan assets for $595 million . Reached an agreement for sale of select assets in southwest saskatchewan to Whitecap Resources .Divested assets currently produce approximately 11,600 barrels of oil equivalent per day.  Full Article

Whitecap Resources buys oil assets for $595 mln, raises 2016 production forecast
Tuesday, 10 May 2016 03:39pm EDT 

Whitecap Resources Inc: Whitecap resources Inc. announces acquisition of high quality low decline oil assets, $470 million financing and increased 2016 guidance . Says deal valued at $595 million . Entered into an agreement to purchase premium oil assets in Western Canada . Acquisition will be funded through a concurrent $470 million bought deal financing and Whitecap's existing credit facilities . After giving effect to financing, acquisition is accretive on key measures including 11% on total proved plus probable reserves . After giving effect to financing, acquisition is accretive 12% on 2017 funds flow and production per share . Sees 2016 average production 45,300 boe/d . Underwriters agreed to buy on a bought deal basis, 51.1 million subscription receipts at price of $9.20 per subscription receipt .Pre-acquisition forecast for 2016 average production was 39,500 boe/d.  Full Article

BRIEF-Whitecap Resources announces acquisition of world class enhanced oil recovery project

* Whitecap Resources Inc. announces acquisition of world class enhanced oil recovery project, $425 million financing, dividend increase of 5% and significantly enhanced free funds flow