whitecap announces increase to credit facilities and disposition of non-core assets

WHITECAP ANNOUNCES INCREASE TO CREDIT FACILITIES AND DISPOSITION OF NON-CORE ASSETS

CALGARY, ALBERTA – Whitecap Resources Inc. ("Whitecap", “we”, “us”, “our” or the "Company") (TSX: WCP) is pleased to announce that as a result of continued operational success in each of our core areas and the related production and reserve increases, our credit facility has increased 13% to $450 million. In addition, Whitecap has entered into agreements in principle to sell non-core assets for total cash proceeds of approximately $56.4 million. The increase to our credit facility and the proceeds from the non-core asset dispositions provides us with significant financial flexibility for ongoing operations moving into 2013.

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