Exploration & Production | Well Cost | Top Story | Drilling Program
Whitecap Resources Drills 32 Wells in Q1 2015
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Whitecap Resources Inc. has announced that based on the review of our independent 2014 year end reserves report, our lenders have agreed to increase Whitecap's credit facilities by 20% to $1.2 billion from the previous $1.0 billion.
The increase is a result of Whitecap's strong drilling results enhanced by the accretive acquisitions completed in 2014, which resulted in significant reserves and production growth which more than offset the recent collapse in commodity prices. The increase in our credit facilities to $1.2 billion, although not required to execute our 2015 capital program, provides us with greater financial flexibility in this low commodity price environment. The next annual review by our lenders is scheduled for April 30, 2016. Whitecap's objective, irrespective of…- ✓ Full news archive — U.S., Canada & international coverage
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