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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.


TSX:WCP - Post by User

Whitecap Resources Inc
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Post by retiredcfon Oct 27, 2022 10:27am
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Post# 35052938

RBC

RBC

October 27, 2022

Whitecap Resources Inc.
Q3/22 - Broadly in line; continued focus on the Montney, New Energy

TSX: WCP | CAD 10.74 | Outperform | Price Target CAD 14.00

Sentiment: Neutral

Whitecap posted Q3/22 results with production coming in ahead of RBC/consensus figures and cash flows slightly lower than expected following the close of the XTO acquisition on August 31, 2022. Management provided detail on the 2022 drilling program with the latest Montney results outperforming expectations, underscoring continued progress made on the integration of XTO. The company also outlined incremental detail on two new Alberta carbon hubs as part of its New Energy business. Overall, we view the results constructively and expect the stock will trade in line with peers, though we will look for additional details on the conference call at 11am ET this morning.


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