Whitecap Resources Inc T.WCP

Alternate Symbol(s): SPGYF

Energy Oil & Gas E&P

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.

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Whitecap Resources Inc

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Post by smallcaptdron Oct 02, 2022 2:12pm

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Post# 35000303

US Oil Production

US production has been increasing due to the increased drilling activity during the summer where some of these drilling rigs are now in production We really need to see production removed if Oil is to head higher and if Oil is to rise then they need to cut global production starting with 1.5+Mil bpd and it needs to be done before the economy gets worse so it has to be done in the next month plus or before years end because 2023 will be ugly. If you click on the Oil chart link below and expand it by clicking on the 25yr view of the Oil chart and you can see that we can still drop $10 to $69 and be at the average for 25yrs and $69 Oil could be high for a recession but no one knows how bad the recession will be but I'm guessing that it will be serious enough to hit $50 Oil. Oil will start trading at $79 tonight overseas so we need to take a look at what US Data is coming out this week.

Crude oil - 2022 Data - 1983-2021 Historical - 2023 Forecast - Price - Quote - Chart (tradingeconomics.com)

US Production
EIA-914 monthly production report

US Crude Rig Count
Baker Hughes Crude Oil Rigs