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Whitecap Resources Inc. is boosting its production outlook for 2026 after it churned out record output for the first three months of the year.
The Calgary-based oil and gas company is increasing its full-year production targets by 7,500 barrels of oil equivalent per day to between 378,000 and 382,000 boe/d while maintaining its capital expenditure budget at between $2 billion and $2.1 billion.
Whitecap, which absorbed producer Veren Inc. last year in a $15-billion deal, reported record oil and gas output of 391,416 barrels of oil equivalent per day during the quarter.
A year earlier, Whitecap had production of 179,051 barrels of oil equivalent per day.
Meanwhile, Whitecap posted a drop in net income to $22.3 million for the first three months of the year from $162.6 million during the same period a year earlier.
The profit amounted to two cents per diluted share versus 27 cents in the first quarter of 2025.
Access the Whitecap Press Release Here
Companies in this story: (TSX:WCP)
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