Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Bullboard - Stock Discussion Forum 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... see more

TSX:WCP - Post Discussion

View:
Post by retiredcf on Dec 17, 2024 9:07am

CIBC

Have a $14.50 target. GLTA

EQUITY RESEARCH
December 16, 2024 Flash Research
WHITECAP RESOURCES INC.

Positive Q4/24 Operational Update
Whitecap provided a positive Q4/24 update with production forecast at
175,500 Boe/d (65% liquids), 3% above previous guidance of 170,000 Boe/d
and consensus of 170,300 Boe/d. This drives full-year production above the
guidance set with last October’s guidance by ~6%. The beat was driven by
stronger-than-expected well results, base production optimization and lower-
than-expected facility downtime from the Montney, Duvernay, Central Alberta
and Saskatchewan assets.

Key Takeaways
• Production guidance. Q4/24 production is expected to average 175,500
Boe/d (65% liquids) with FY/24 production of 174,000 Boe/d, up from the
previous guidance of 170,000 Boe/d and the original October 2023
guidance of 165,000 Boe/d (at the midpoint).

• Kaybob. Q4/24 production is 1,000 Boe/d above forecast as the
company was able to bring the latest pad (11-14B) online one week
ahead of forecast, with initial rate exceeding expectations.

• Musreau. Current rates at Musreau are 17,500 Boe/d (5-9 battery) with
condensate production at facility capacity of 11,000 Bbl/d. Following
completion of the fourth well pad, productive capability is 25,000 Boe/d.
The performance of this initial development program will help the
company determine the appropriate pace of development for this asset,
which could include moderating the activity levels of expanding the
facility.

• Lator. Front-end engineering on Phase 1 of the new 4-13 facility is
completed. Production from the two 2023 wells has reach IP365 with
average production of ~1,300 Boe/d (430 Bbl/d of condensate), an
encouraging result. The second delineation well of 2024 has been turned
in line with condensate-to-gas ratios matching initial expectations. As the
field is currently limited by facility capacity, Whitecap plans to focus on
technical delineation efforts until late 2026 or early 2027 when the 4-13
facility is expected to come online.

• Central Alberta. Glauconite assets have contributed ~1,400 Boe/d to
Q4/24 outperformance as a result of higher production rates and
increased third-party facility throughput. A combination of collaboration
with third-party facility operators to de-bottleneck and optimize operations
has enhanced gas egress in the region. In addition, the company has
achieved a 10% reduction in capital efficiencies from monobore drilling
and continued production outperformance.

• Valuation. Whitecap trades at a 2025 EV/DACF multiple of 3.5x and a
2024E FCF yield of 12%, vs. the oil-weighted SMID cap group at 3.1x
and 14%, respectively.

Comment by Citizen13 on Dec 17, 2024 11:04am
Once again all these banks estimate wonderful price targets . No mention of at what commodity prices for oil or natural gas we will achieve this ?   50% up next year in what most anaylsts suggest we will be swimming in the stuff ?    Do, do, do do dodo doooo ... play the Barnum and Bailey circus music . In come the clowns.  I should have gone into finance . I'm sure these ...more  
Comment by Scotchlight1001 on Dec 17, 2024 8:14pm
It is a fair question. However, I do not see the price of oil changing much prior to Don's big day on January 25, 2025. I am concerned about the CAD currency risk. I did buy more today based on the tax loss selling angle and a 1 month time frame prior to the presidential inauguration.
Comment by goldens on Dec 18, 2024 10:05am
So which analysts do you beleive? The ones saying we will be swimming in oil or the ones talking 50% upside. It is all smoke and mirrors including the numbers coming out of the fed on inflation. Gas has never been cheaper in years and has steadily been dropping over the past 2 months yet their supposed number show higher inflation if you include fuel????? What ever sector has more retail investors ...more  
Comment by Citizen13 on Dec 18, 2024 10:24am
At this point I think it's betting on red. That's how cloudy the outlook is.  OPEC could cut even lower because they are otherwise in financial trouble ( especially Russia)  or flush the system one more time and wreck the industry for years again.  Russia would not be happy if Saudi decided to purge again. They would definitely lose the war in Ukraine . So I'm guessing ...more  
Comment by momin381 on Dec 19, 2024 4:43am
Whitecap Resources Inc. is a Canadian oil and gas company headquartered in Calgary, Alberta, with operations in Alberta, Saskatchewan, and British Columbia. citeturn0search4 In the third quarter of 2024, Whitecap Resources reported record production levels, continuing its operational momentum from the first quarter. The company has also exceeded its 2024 production guidance and announced its ...more  
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities