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Whitecap Confidently Hedged, Increasing Capex
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Whitecap Resources Inc. has announced financial and operational results for the three and nine months ended September 30, 2014.
Highlights: Production increased 63% (6% per share) to a record 34,940 boe/d (72% oil and NGLs) compared to 21,448 boe/d (69% oil and NGLs) in Q3/2013. Invested $93.3 million in capital expenditures in the third quarter of 2014 which includes the drilling of 56 (49.7 net) wells with a 100% success rate. Completed successful reactivation programs in West Pembina and Boundary Lake which were acquired in May 2014. To date we have added 686 boe/d of net production in these two areas spending only $1.9 million for a capital efficiency of $2,800 per boe/d. We continue to see considerable optimization upside remaining on the acquired assets. Executed on $36.4 million…- ✓ Full news archive — U.S., Canada & international coverage
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