whitecap announces increase to credit facilities
WHITECAP ANNOUNCES INCREASE TO CREDIT FACILITIES
CALGARY, ALBERTA – Whitecap Resources Inc. ("Whitecap", “we”, “our” or the "Company") (TSX: WCP) is pleased to announce that based on the annual borrowing base review, our lenders have agreed to increase our credit facility 16 percent to $520 million from the previous $450 million. The increase does not include our recent Dodsland Viking light oil acquisition announced on April 29, 2013 and reflects the high quality nature of our assets and their ability to generate considerable cash flow. Whitecap has significant financial flexibility for ongoing operations and dividend payments with an estimated 2013 debt to cash flow ratio of 1.3 times and large un-drawn credit facilities.
Whitecap Resources Inc. is a dividend paying, oil-weighted company focused on providing sustainable monthly dividends to its shareholders and per share growth through a combination of accretive oil-based acquisitions and organic growth on existing and acquired assets. For further information about Whitecap please visit our website at www.wcap.ca.
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