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Viking, Cardium E&P to Spend 71% More in 2017; Drill 187 Wells
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Whitecap Resources has approved a $300 million capital budget for 2017 that is anticipated to deliver top quartile production per share growth of 15%.
Key Points: $300 million (up +71% from $175 million in 2016) Drill 187 (163.8 net) wellsThe 2017 capital program and the annual dividend of $0.28 per share is expected to be fully funded by internally generated funds flow without the use of a dividend re-investment program.
Three Year Outlook 2017 BudgetThe capital investment of $300 million in 2017 includes the drilling of 187 (163.8 net) development oil wells which are anticipated to deliver annual production of 57,000 boe/d compared to 45,700 boe/d in 2016, an increase of 25% (15% per share).
2017 Budget BreakdownWe plan to allocate $234 million of our capital program towards…
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