Whitecap has increased its 2016e capital program to $148 mm (previously $70 mm) with the incremental spending coming in 2H16 and being funded by a 38% dividend reduction to $0.28 per share annually. The Company also offered a 2017e preliminary outlook that includes $150 mm of spending to achieve average production of 41,500 boe/d. While the net effect dividend cut and capex increase on 2016e total cash use to cash flow is negligible, the effect on 2017e valuation, sustainability and leverage cha ....
12 Apr 2016
Announces Increased 2016 Guidance and Revised Dividend
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Announces Increased 2016 Guidance and Revised Dividend
Whitecap Resources Inc. (WCP:TSE) | 0 0 (-1.0%) | Mkt Cap: 3,323m
- Published:
12 Apr 2016 -
Author:
Cody R. Kwong -
Pages:
6
Whitecap has increased its 2016e capital program to $148 mm (previously $70 mm) with the incremental spending coming in 2H16 and being funded by a 38% dividend reduction to $0.28 per share annually. The Company also offered a 2017e preliminary outlook that includes $150 mm of spending to achieve average production of 41,500 boe/d. While the net effect dividend cut and capex increase on 2016e total cash use to cash flow is negligible, the effect on 2017e valuation, sustainability and leverage cha ....