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Whitecap Resources
Whitecap Resources (WCP) investor relations material
Whitecap Resources Investor Day 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Investor Day 2026 summary5 Jan, 2026
Strategic Overview and Capital Allocation
Focus on disciplined capital allocation, technical excellence, and a robust balance sheet to generate strong, durable shareholder returns through commodity cycles.
Annual target of 10–15% total shareholder return, supported by a diversified asset base and 10,500 drilling locations.
Capital allocation toolkit includes reinvestment, share repurchases, dividends (with a 20–25% payout ratio), and balance sheet strength, with flexibility to adapt to commodity cycles.
Countercyclical approach leverages low leverage and long inventory life to prioritize organic growth and opportunistic acquisitions when balance sheet strength allows.
Maintenance CapEx to keep production flat is estimated at CAD 1.9–2 billion, with a 2026 capital budget at CAD 2–2.1 billion.
Asset Base and Growth Opportunities
Asset portfolio includes unconventional (Montney, Duvernay) and conventional assets, all in Western Canada, with 1.5 million acres in Montney and Duvernay and over 3 million acres in Alberta and Saskatchewan conventional plays.
Inventory includes approximately 5,800 conventional and 4,700 unconventional drilling locations, supporting multi-decade growth.
Major growth projects include Lator Phase 1 & 2 (up to 85,000 boe/d), Gold Creek/Karr expansions, Resthaven gas buildout, and Kakwa, with 325,000 BOE/d of organic growth potential.
Conventional assets provide stable, low-decline cash flow, with multi-decade inventory and benefits from EOR and waterflood projects.
Ongoing technical improvements and infrastructure debottlenecking support both near-term and long-term production growth.
Operational and Financial Performance
2026 guidance: 370,000–375,000 BOE/d production, with 60% oil/liquids and 40% natural gas mix.
Corporate decline rate is 28–29%, with conventional at 19–20% and unconventional at 32–33%.
Net debt at CAD 3.3 billion, targeting 1x debt to funds flow, with 50% fixed-rate debt and investment-grade credit rating (BBB).
Free cash flow at $60 WTI and $3 AECO is CAD 1.2 billion, with CAD 900 million allocated to dividends and CAD 300 million to share buybacks.
Ongoing focus on operational efficiency, including drilling and completion improvements, and optimization of base production.
Unbooked unconventional inventory economics
Quantify conventional EOR recovery upside
Impact of growth scenarios on future funds flow
How does Whitecap's counter-cyclical strategy adapt now?
Outline criteria for sanctioning future growth projects
Detail EOR's role in long-term value creation
Partial view of Summaries dataset, powered by Quartr API
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Next Whitecap Resources earnings date
Q4 202525 Feb, 2026
Whitecap Resources
Next Whitecap Resources earnings date
Q4 202525 Feb, 2026
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Frequently asked questions
Whitecap Resources Inc is a Canadian energy company engaged in the acquisition, development, and production of oil and natural gas. The company focuses on conventional and unconventional resource plays across Western Canada, with a strategy centered on enhanced oil recovery and carbon management. Whitecap Resources Inc is headquartered in Calgary, Canada, and its shares are listed on the TSX.
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