![]() ![]() The Acquisition further strengthens the sustainability of our dividend and growth strategy and is expected to generate annual free funds flow of approximately $72 million at US$55/bbl WTI and C$2.50/GJ AECO. Current production from the Kicking Horse assets is approximately 8,000 boe/d and is expected to be optimized at 18,000 – 19,000 boe/d over the next 12 – 15 months to maximize free funds flow.Whitecap's total acreage in the Montney resource play is now 168 (118.0 net) sections with 696 (437.4 net) drilling locations identified across numerous Montney benches.The Acquisition includes 92 (60.0 net) sections of Montney rights that are 99% operated, with an average working interest of 65%, and provide the potential for further working interest consolidation. The Kicking Horse assets are well positioned in the liquids-rich portion of the Alberta Montney, complement our existing Montney position at Karr and have significant offsetting activity. The Acquisition is a continuation of Whitecap's long-term strategy of selectively consolidating high quality assets in our core operating areas to enhance free funds flow and return of capital to shareholders. ![]() The Acquisition is expected to close on or before May 31, 2021. Kicking Horse's assets primarily consist of a condensate rich Alberta Montney development at Kakwa with current production of approximately 8,000 boe/d (~32% liquids, ~90% of which is condensate). ![]() ("Kicking Horse"), a privately held indirect subsidiary of Quantum Energy Partners, for aggregate consideration of $300 million, consisting of 34.5 million Whitecap common shares (determined based on the five-day volume weighted average share prices of the Whitecap shares on the TSX prior to the signing of the Arrangement) and $56 million in cash and the assumption of net debt (the "Acquisition") estimated at $54 million as at February 28, 2021. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has entered into an arrangement agreement (the "Arrangement") to indirectly acquire Kicking Horse Oil & Gas Ltd. CALGARY, AB, Ap/CNW/ - Whitecap Resources Inc. ![]()
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