![]() Subsequent to year end, we increased the monthly dividend by another 32% to $0.0483 per share. We started 2022 with a monthly dividend of $0.0225 per share and increased it by 63% to end 2022 at $0.0367 per share. ![]() 2022 was also another year of significant capital returns to shareholders. Whitecap generated record funds flow of over $2.3 billion, and after capital expenditures of $687 million, had free funds flow 1 of $1.6 billion. Compared to the prior year, production per share 6 increased 25%, funds flow per share increased 105%, free funds flow per share increased 137% and reserves per share also increased significantly in all categories. Our strategy of operational execution enhanced by strategic acquisitions once again resulted in significant per share growth for our shareholders. The XTO Energy Canada (“XTO”) acquisition, which closed on Augfor net cash consideration of $1.7 billion, was transformational to Whitecap as it added 32,000 boe/d from the Montney and Duvernay formations in Northwest Alberta and included 672,000 acres of land with over 2,000 drilling locations 5, significantly increasing the sustainability of our dividend plus growth model. We continue to enhance long-term sustainability with total proved (“TP”) finding, development and acquisitions (“FD&A”) cost 1 of $16.15 per boe generating a recycle ratio of 2.9x and growing TP reserves per share by 49% over the prior year. Our 2022 year end reserves report highlights efficient and profitable organic growth with proved developed producing (“PDP”) reserves per share increasing 19% and with our PDP finding and development (“F&D”) cost 1 of $13.20 per boe generating a recycle ratio 1 of 3.6x. We achieved record annual production of 144,389 boe/d on capital expenditures of $687 million, compared to guidance of 144,000 boe/d and $670 – $690 million, respectively. Production in the fourth quarter averaged 166,392 boe/d, ahead of our guidance of 165,000 boe/d despite unexpected downtime due to the extreme cold weather in December. Weighted average diluted shares outstandingĢ022 was an exceptional year for Whitecap with operational and financial results exceeding expectations. ![]() Weighted average basic shares outstanding Petroleum and natural gas revenues ($/boe) 1 All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.įusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.Financial ($ millions except for share amountsĮxpenditures on property, plant and equipment 2 It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. ![]() Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Trading on margin increases the financial risks.īefore deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.įusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. ![]()
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