Reserves
Whitecap Sees PDP Reserves Increase 22% to 113.2 MMBOE
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Whitecap Resources Inc. reported its 2015 year end oil and gas reserves evaluation prepared by McDaniel & Associates Consultants Ltd.
Since inception, Whitecap has been focused on acquiring high quality assets and further developing them to maximize return on capital for shareholders. In 2015, we invested approximately $1 billion (unaudited) into the development and expansion of our existing core areas which has resulted in record production in the fourth quarter of 2015 of approximately 42,000 boe/d which is 400 boe/d higher than our initial forecast. The invested capital added 74.6 MMboe (84% oil and NGLs) of total proved plus probable reserves at a strong finding, development and acquisition cost of $18.27 /boe including changes in future development capital ("FDC"). We also achieved a…
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