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 Jul 31, 2024 7:09am

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Post# 36155726

Another View of Earnings

For Q2, WCP beat EPS estimates of 36c coming in at 41c. Revenue recorded a large beat on estimates of $784.72M coming in at $980.4M displaying growth of 21.50% year-over-year. 2024 production and capital spending guidance was maintained. WCP is trying to reduce debt and forecasts that net debt will be below $1B by year end. Funds flows for the quarter were $426M ($0.71 per share) 4% per share year-over-year. The company has highlighted that its performance thus far has been exceptional and hopes to continue the momentum into 2H. We think this was a strong quarter and like the focus on debt reduction while production continues to be strong. (5iResearch)

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