RE:RE:Whitecap acquisition of XTO Canada
You're correct, in this era of anti oil the banks gladly provided the capital to Whitecap feeling safe with the future plans. They know the potential of the the acquired lands in prime locations, plus they could potentially sell some sections in the future to utilize core holdings. To produce 32,000 bpd equivalent today would cost multiple millions in drilling, infrastructure costs, not to mention there's no guarantee with drilling success. The future looks good for Whitecap, patience will be required.