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Whitecap Resources Inc T.WCP

Alternate Symbol(s):  SPGYF

Whitecap Resources Inc. is an oil-weighted growth company. The Company is engaged in the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its core areas include the West Division and East Division. Its West Division is comprised of three regions: Smoky, Kaybob and Peace River Arch (PRA). The properties in its Smoky region include Kakwa and Resthaven, all located in Northwest Alberta. The primary reservoir being developed is the Montney resource play, mainly comprised of condensate-rich natural gas. Kaybob is located in the Fox Creek region of Northwest Alberta. The primary reservoir being developed is the Duvernay resource play, mainly comprised of condensate-rich natural gas. The PRA is its original asset area. Its East Division is comprised of four regions: Central AB, West Sask, East Sask and Weyburn. Its Central Alberta region represents the bulk of its Cardium and liquids-rich Mannville assets.


TSX:WCP - Post by User

Post by 2021Gambleon Dec 03, 2021 9:14am
151 Views
Post# 34194058

Deutsche Bank on WTI and Brent; Omicron and supply

Deutsche Bank on WTI and Brent; Omicron and supply
Deutsche Bank on Impact of Omicron, Potential 2022 Oversupply on Oil Prices
03 Dec 2021 08:28 ET  

08:28 AM EST, 12/03/2021 (MT Newswires) -- Deutsche Bank on Friday said that the about $12/bbl fall in Brent prices over the last week will prove to be an overreaction to concerns about the new omicron variant of the coronavirus and potential 2022 oversupply.

Deutsche Bank's James Hubbard said crude inventories remain below five-year averages while extreme upstream capex discipline persists. Several OPEC members are already struggling to meet their quotas and a return of Iranian volumes is nowhere in sight, Hubbard added.

Underlying global oil demand has clearly been undented by 18 months of COVID-19 and the threat of electric vehicles remains a post-2030 issue at the earliest, according to Hubbard.

If omicron causes enhanced lockdowns, Hubbard said the mRNA platform offers a likely rapid vaccine response and OPEC has proven capable of managing supply as required over the last 18 months.

Deutsche Bank reaised its 2022 Brent assumption by 18% to $75/bbl, i.e. 12% above the post-Omicron news forward curve. Its 2022 EPS forecasts rise by an average of 17% and it raises PTs by an average of 14%.

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