Post by
WINDGOD46 on Jan 06, 2022 2:15pm
Hedges for 2022
Objectives: • Fully fund capital program and annual dividend payments • Downside price protection with upside participation Outcome: Based on current hedges in place, Whitecap can fully fund the 2022 capital program and annual dividend of $0.27/share at US$40/bbl WTI 9 Oil hedges Q4/2021 2022 2023 Percent of production hedged 38% 17% 6% Swaps hedged (bbls/d) 21,500 5,591 1,000 Average swap price (C$/bbl) $65.46 $66.53 $81.02 Collars hedged (bbls/d) 5,500 6,748 3,727 Average collar price (C$/bbl) $54.82 x $73.68 $63.04 x $81.94 $70.32 x $99.86
As the above quote shows, hedges of 38% or 21500b/d of production is reduce to 5591 effective Jan. 5, 22. And in 2023 hedge is 1000b/d or 6% of production at a hedge price of 81.02. Good news all around. GL folks
Comment by
1970Craig on Jan 06, 2022 2:26pm
We are NOT looking bad that's for sure. Would like to see some capital put in our hands after this month of things are still strong. Other than that I am reasonably happy to wait for the love !