Quarterly / Earnings Reports | Third Quarter (3Q) Update | Capital Markets | Capital Expenditure | Drilling Program - Wells | Capital Expenditure - 2018
Whitecap Hits 18% Production Growth in Q3; IDs Preliminary 2018 Capex
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Whitecap Resources reported its Q3 2017 results.
Highlights: Average production for the quarter increased by 18% (17% per share) to 57,898 boe/d (82% oil and NGLs) compared to 49,251 boe/d (79% oil and NGLs) in Q3/16. Elected to accelerate approximately $30 to $35 million of development capital from 1H/2018 into 2017 to provide a more balanced and efficient capital program as we transition from 2017 to 2018. Including the accelerated capital which we anticipate adding 300-400 boe/d to our average 2017 production 2018 Preliminary BudgetApproved a base capital budget of $370 to $390 million which includes the drilling of 240 (210.4 net) wells.
- West Central Alberta ($68 million) – In West Pembina, we plan on drilling 17 (13.3 net) Cardium oil wells of which 82% are ERH wells and 1…
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