Whitecap Resources Inc
TSX:WCP

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Whitecap Resources Inc
TSX:WCP
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Price: 11.73 CAD 0.6% Market Closed
Market Cap: 14.2B CAD

Whitecap Resources Inc
Investor Relations

Whitecap Resources Inc. is a Canadian oil and gas company strategically maneuvering through the energy sector with a focus on sustainable growth and shareholder value. Established in 2009, Whitecap has carved out a reputable niche in the Western Canadian Sedimentary Basin, which includes prolific areas such as Alberta and Saskatchewan. The company takes a disciplined approach to acquiring high-quality producing assets and employs advanced extraction methods to optimize output while minimizing environmental impact. By reinvesting cash flows into both organic growth opportunities and strategic acquisitions, Whitecap ensures that its production and reserves continue to expand, benefiting from economies of scale and enhancing overall efficiency.

Whitecap's revenue primarily derives from the sale of crude oil and natural gas. The company differentiates itself through its commitment to sustainability and financial prudence, which is exemplified by its hedging strategies to manage price volatility and protect cash flows. This approach helps cushion the company against the cyclical nature of commodity markets, enabling steadier returns and a more predictable dividend policy for shareholders. Additionally, Whitecap invests in technological innovations designed to increase efficiency and reduce greenhouse gas emissions, underscoring its adaptive strategies in a sector facing mounting environmental and societal pressures. This dual focus on fiscal responsibility and environmental stewardship places Whitecap Resources in a strong position to navigate the evolving energy landscape.

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WCP
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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 23, 2025
AI Summary
Q3 2025

Production Guidance Raised: 2025 production guidance increased to 305,000 BOE per day, with Q4 expected at 370,000 BOE per day.

Capital Budget Lowered: 2026 capital program set at $2.0–2.1 billion, down from initial projections of $2.6 billion, while maintaining strong production targets.

Synergy Upside: Forecasted 2026 synergies raised to $300 million—40% higher than the original estimate, driving improved capital efficiency and lower operating costs.

Strong Free Cash Flow: Q3 free funds flow reached $350 million; for 2026, free funds flow is expected to total $1.2 billion at $60 WTI.

Shareholder Returns: Approximately $400 million returned to shareholders in Q3 via dividends and share buybacks; 2026 plan targets $900 million in dividends and $300 million in buybacks.

Operational Efficiency: Integration of Veren assets and operational improvements are shortening cycle times, reducing drilling costs, and boosting production above forecasts.

Balance Sheet Stability: Net debt stands at $3.3 billion with strong liquidity and coverage from $9.8 billion in tax pools.

Key Financials
Production
376,623 BOE per day (Q3); 305,000 BOE per day (2025 guidance); 370,000–375,000 BOE per day (2026 guidance); exit 2026 over 380,000 BOE per day
Capital Expenditures
$2.0–2.1 billion (2026 budget); $2 billion (2025 full year plan); $550 million (Q3)
Free Funds Flow
$350 million (Q3); $1.2 billion (2026 forecast at $60 WTI)
Funds Flow
$900 million (Q3); $3.3 billion (2026 forecast at $60 WTI)
Operating Costs
$12.50 per BOE (Q3)
Net Debt
$3.3 billion (end of Q3)
Tax Pools
$9.8 billion (end of Q3), including $4.4 billion noncapital losses
Shareholder Returns
$400 million (Q3: $221 million dividends + $180 million buybacks); $900 million (2026 dividends); $300 million (2026 buybacks)
Dividends Per Share
$0.73 per share annually (2026 plan)
Synergies
$300 million (2026 forecast: $130 million capital, $135 million operating cost, $35 million corporate)
Income Tax
$25 million (Q3); 4% of pretax funds flow
Earnings Call Recording
Other Earnings Calls

Management

Mr. Grant Bradley Fagerheim
President, CEO & Director
No Bio Available
Mr. Thanh C. Kang
Senior VP & CFO
No Bio Available
Mr. Joel M. Armstrong
Senior Vice President of Production & Operations
No Bio Available
Mr. David M. Mombourquette
Senior Vice President of Business Development & IT
No Bio Available
Mr. Timothy James Richardson
General Counsel
No Bio Available
Mr. Jeffrey Byron Zdunich
VP of Finance & Controller
No Bio Available

Contacts

Address
ALBERTA
Calgary
3800, 525 - 8th Avenue SW, Eighth Avenue Place, East Tower
Contacts
+14032660767.0
www.wcap.ca