Whitecap Resources Inc T.WCP

RBC Notes

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January 16, 2025

Canadian E&P Perspectives

WCSB top wells for November 2024

This publication highlights top producing horizontal oil and natural gas wells (excluding oil sands) based on the public data available as of November 2024 in Alberta, Saskatchewan, and British Columbia with a minimum of 120 hours of production. Exhibits 1–6 summarize wells by product and Exhibits 7–26 highlight top wells for specific formations. We note the following key observations:

Production trends

•  A total of 365 wells were brought on production in November 2024 versus 328 in November 2023, which represents a 11% increase y/y.

•  November's highest producing gas well by rate and volumes was ARC's 02-06 Heritage Montney well, which produced 27 mmcf/d over 720 hours and 802 mmcf.

•  November's highest producing liquids well by rate and volumes was ARC's 01-30 Kakwa Montney well, which produced 2,119 bbl/d over 30 calendar days and 64 mbbl.

•  The highest producing Cardium oil well was Whitecap's 10-33 well at Pembina, producing 15 mbbl (502 bbl/d, 719 hours).

•  The highest producing Viking oil well was Whitecap's 07-07 well at Kindersley/Kerrobert, producing 8 mbbl (271 bbl/d, 712 hours).

•  The highest producing Clearwater oil well was Baytex's 12-25 well at Peavine, producing 23 mbbl (808 bbl/d, 697 hours).

•  The highest producing SE Sask oil well was Veren's 12-15 well at Weyburn, producing 20 mbbl (681 bbl/d, 715 hours).

•  Please note: Due to timing of data availability under the ‘multi- stream’ reporting process, production for liquids-rich gas wells incorporate oil and wellhead condensate volumes (and excludes other NGLs). Subject to availability, we expect these products to be incorporated in future reports.