Q: Your take on Whitecap’s quarter please.
5i Research Answer:
Revenue was nicely higher than estimates, though GAAP earnings were lower than expected. But cash flow was solid, at 64c per share, down slightly from 73c the prior year on higher pricing. Total production rose nicely to 169,000 boe/d from 155,100 last year. Prices on all commodities declined year over year. Net backs were $31.21 per barrel. Production guidance for all of 2024 was increased by 2,000 b/d, with no change in the capital budget. We would consider the quarter good overall.