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CALGARY, AB – Whitecap Resources Inc. (“Whitecap” or the “Company ”) (TSX: WCP) is pleased to announce that it has successfully completed the previously announced strategic combination with NAL Resources Limited (“NAL”) (the “NAL Combination”). Whitecap issued approximately 58.3 million Whitecap common shares in exchange for all the issued and outstanding NAL shares. 2020 was a very challenging year on many fronts, but our financial discipline and operational strength has allowed us to capture significant opportunities including the NAL Combination and the recently announced strategic combination with TORC Oil & Gas Ltd. (“TORC”) (the “TORC Combination”). Our fourth quarter average production is now expected to be approximately 63,000 boe/d which is 5% higher than our budget expectation of 59,000 – 61,000 boe/d. Capital spending for the quarter was approximately $20 million which is in line with our expectations. We have ended 2020 on a very strong operational note and will look to build on this momentum as we move into 2021. Over the last five years, Whitecap has significantly enhanced our dividend and growth model through our commitment to reducing costs and improving efficiencies in our business. This commitment, in combination with our strategic acquisitions, has transformed Whitecap into […]
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