Whitecap Resources Inc. is using wine-rack development in its Montney and Duvernay assets to deliver 10–20% well performance gains and accelerate free cash flow through optimized spacing and lower interference, choosing a capital-disciplined alternative to higher-risk cube development that preserves flexibility while industrializing the play

Whitecap Resources’ Caroline operations reflect a classic steady-state mature gas field strategy—incremental facility optimization, a modest CY+PY permit cadence (7 total), and repeat use of a small rig set to sustain production rather than drive growth.

Whitecap positioned the Montney as a long-dated, infrastructure-led growth engine focused on returns, flexibility, and capital discipline rather than volume growth. That strategy showed up clearly in 2025, with 76 wells drilled in core Montney fields using multi-well pads and a small set of high-utilization rigs, reinforcing a factory-style approach built for sustainable free cash flow.

Whitecap Resources Inc. has filed a new facility application with the Alberta Energy Regulator (AER) to construct a gas processing plant in the heart of the Kakwa region, approximately 5 km from the nearest surface development. The project—Application #1958022—is notable not only for its design and scope, but also for its partnership structure and strategic positioning in one of Alberta’s most prolific natural gas areas.

In a landmark deal for the Canadian energy sector, Whitecap Resources Inc. (TSX: WCP) and Veren Inc. (TSX: VRN) have announced a strategic all-share merger valued at approximately $15 billion, including net debt. The transaction will create a leading Canadian light oil and condensate producer, with a dominant position in the Alberta Montney and Duvernay formations, as well as significant operations in Saskatchewan.

As we enter 2025, Whitecap Resources Inc. (TSX: WCP) stands at the forefront of efficiency-driven growth in the Canadian energy sector. With a strategic focus on capital discipline, operational optimizations, and infrastructure enhancements, Whitecap is well-positioned to navigate commodity price volatility while delivering strong production growth and shareholder returns.

Alberta Energy Regulator (AER) has laid two charges against Whitecap Resources Inc.

Whitecap 2023 budget of $900 – $950 million and average production guidance of 170,000 – 172,000 boe/d (64% liquids) is unchanged and is expected to result in the Company reaching our final net debt milestone of $1.3 billion in mid-20238

Whitecap increasing our 2022 average production guidance by 4,000 boe/d to 142,000 – 144,000 boe/d and our capital spending guidance by $60 million to $670 – $690 million.

Whitecap’s financial and operating results for the second quarter were once again ahead of expectations as the Company maintained operational momentum from the first quarter drilling program resulting in production of 132,293 boe/d and record funds flow of $677 million or $1.08 per share.