- Whitecap Resources Press Release (TSX:WCP:CA): Q4 GAAP earnings per share of $0.49 beats by $0.13.
- Revenues equal to 914.1 million dollars (-18.4% y/y).
- Average 2023 production of 156,501 boe/d, including 103,014 bbl/d of light oil and liquids and 320,922 MMcf/d of natural gas, generated funds flow of $1.8 billion dollars ($2.94 per share) and after capital expenditures of $954 million, there was a free funds flow of $838 million ($1.38 per share).
- For the full year and fourth quarter, funds flow netbacks were $31.36 per boe and $30.16 per boe, respectively.
- Year-end net debt of $1.4 billion, equivalent to a debt-to-EBITDA ratio of 0.7x and an EBITDA-to-interest expense ratio6 by 27.0 times.
- View: “We have increased our 2024 average production guidance range to 165,000 – 170,000 boe/d (8% per share production growth).
- Our capital budget is now expected to be between $900 billion and $1.1 billion, which is $100 million less than initially budgeted, providing another year of strong operational execution supported by technical improvements undertaken in 2023.
- We expect 2024 funds flow of approximately $1.6 billion, which translates to free funds flow of $600 million, after capital investments.
- Our long-term corporate organic growth outlook has been updated and increased to 210,000 boe/d by the end of 2028, representing average organic growth of 5% year over year.”
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