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November 20, 2013

WHITECAP RESOURCES INC. INCREASES VIKING LIGHT OIL EXPOSURE, ANNOUNCES DIVIDEND INCREASE AND PROVIDES INCREASED 2014 GUIDANCE

CALGARY, ALBERTA – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to announce that it has entered into an arrangement agreement (the “Arrangement Agreement”) providing for the acquisition by Whitecap of all the issued and outstanding common shares of a private company (“PrivateCo”) for total consideration of 27,535,867 Whitecap common shares (the “Transaction”). Whitecap will also be assuming the working capital surplus of PrivateCo, estimated at $3.0 million, after accounting for severance and transaction costs associated with the Transaction, as at December 31, 2013. Based on an agreed upon price of $12.00 per Whitecap share, the total consideration net of the working capital surplus is $327.4 million.

PrivateCo is a light oil-weighted energy company with operations primarily in the Kindersley (Whiteside) area of west central Saskatchewan which immediately offsets Whitecap’s lands and Viking production in Kindersley (Lucky Hills). The Transaction includes a significant inventory of low-risk light oil development opportunities with quick payouts along with strategically operated oil and gas facilities and infrastructure.

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Profitable Per Share Growth Within Funds Flow

Whitecap Resources Inc. is an oil-weighted growth company that pays a monthly cash dividend to its shareholders.

We are focused on providing sustainable dividends and profitable per share growth enhanced by value added acquisitions.

Whitecap's common shares are traded on the Toronto Stock Exchange under the symbol WCP.

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