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Whitecap Resources Inc. Announces 2022 Budget, 2021 Guidance Update and Increased Cash Returns to Shareholders
Whitecap Resources Inc. Announces 2022 Budget, 2021 Guidance Update and Increased Cash Re...
About this update from Whitecap Resources Inc.
[{"type":"text","content":"\n \n \n \n Whitecap Resources Inc. Announces 2022 Budget, 2021 Guidance Update and Increased Cash Returns to Shareholders\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen4{\nBORDER-TOP-COLOR:; VERTICAL-ALIGN: BOTTOM; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; PADDING-LEFT:0.50em; BORDER-RIGHT-COLOR:; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen5{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Oct. 14, 2021\n \n /CNW/ - Whitecap Resources Inc. (\"Whitecap\" or the \"Company\") (TSX: WCP) is pleased to announce its 2022 budget, an accelerated fourth quarter 2021 capital program and 38% increase to its dividend.\n \n \n \n Highlights\n \n \n \n \n \n 2022\n \n \n Budget.\n \n Capital spending of\n \n $470\n \n -\n \n $490 million\n \n is expected to generate average production of 121,000 – 123,000 boe/d (73% liquids). The budget is\n \n $90 million\n \n lower than preliminary expectations, with approximately\n \n $55 million\n \n due to acceleration of capital into late Q4/21 to solidify service sector requirements while optimizing the 2022 capital program, and approximately\n \n $35 million\n \n from continuation of the capital efficiency improvements achieved during 2021.\n \n \n \n \n \n Revised 2021 Guidance.\n \n Capital spending is now expected to be\n \n $425\n \n -\n \n $435 million\n \n which adds 39 (34.7 net) wells to our Q4/21 program. Starting our 2022 capital program early and locking in key services will help to ensure the efficient execution of our 2022 capital plans. We are also incr...