whitecap resources inc. closes previously announced dodsland viking light oil acquisition

May 22, 2013
 
WHITECAP RESOURCES INC. CLOSES PREVIOUSLY ANNOUNCED DODSLAND VIKING LIGHT OIL ACQUISITION

CALGARY, ALBERTA – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to announce successful completion of the acquisition of an existing Viking light oil waterflood asset in the Dodsland area of west central Saskatchewan as previously detailed in our April 29, 2013 press release. The acquisition adds 900 boe/d (95 percent light oil) of high netback, operated production with a low base decline of 20 percent. Total consideration for the acquisition was $110 million subject to post-closing adjustments. The acquisition represents the continuation of Whitecap’s objective to strengthen the sustainability of our dividend-growth strategy through the acquisition of high netback assets that can provide consistent growth and substantial free cash flow.

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