WCP, NAL, TORC, KICKING HORSE +++ "yes, 1 more" What a joy it is to invest in 1 company, that pays a nice, and ever increasing dividend, which is also committed to share buybacks through the NCIB......(everyone notice that nice buy back??)
And yet the reality was and is, this is no longer the same 'ol WCP. It is now 5 companies in one, with excellent debt management, disciplined Cap. Ex.,
"sustainable business model", which includes - get this
"we will continue to evaluate these opportunities"
Gotta love it...
If it wasn't this early in the morning, and if I had something other than coffee....I might just do 'the happy dance'.....maybe this weekend....
On that note....have a great LONG wwekend folks....
With the NAL, TORC and the Kicking Horse acquisitions closed, Whitecap's sustainable business model is now even stronger. Disciplined acquisitions that enhance our per share metrics and improve our free funds flow profile are an important part of our strategy and we will continue to evaluate these opportunities.
Subsequent to the quarter end, we closed the acquisition of a private company with operations in Southeast Saskatchewan (the "Acquisition"). The Acquisition consolidates our land position in the Weir Hill area adding 23 net sections of land (99% working interest), where our conventional Frobisher drilling results so far this year have yielded top decile results. Assets from the Acquisition are forecasted to average 1,600 boe/d (94% light oil) in the second half of 2021. The total purchase price was $67 million, which equates to 2.3x operating income and a 29% free funds flow yield at US$65/bbl WTI.