Whitecap Resources Reports $204.2M Q3 profit, Raises Production Guidance for 2025

Whitecap Resources Inc. raised its production guidance as it said it earned $204.2 million in latest third quarter, down from $274.2 million during same period last year.

The company, which combined operations with Veren Inc. earlier this year, says its net income amounted to 17 cents per diluted share for the quarter ended Sept. 30, down from 46 cents per diluted share a year earlier.

Petroleum and natural gas revenue came in at $1.66 billion for the quarter, up from $890.9 million in the same quarter last year.

Whitecap produced 374,623 barrels of oil equivalent per day, up from 173,302 boepd a year earlier, while its average realized price slipped to $48.17 per barrel of oil equivalent, down from $55.88 a year ago.

In its outlook, the company says it now expects production for 2025 to average 305,000 boepd for the full year, up from earlier expectations for between 295,000 and 300,000 boepd.

It says the updated guidance reflects fourth-quarter production expected to be about 370,000 boepd.

Read the Press Release Here

 

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