Whitecap Resources (TSX: WCP) reported strong third-quarter results. Funds flow reached $1.2 billion, up 32% per share.
Average production was 390,720 barrels of oil equivalent per day (boe/d), above expectations. Quarterly sales totaled $2.41 billion, beating analyst estimates. Earnings per share were $0.27, slightly below consensus.
The board approved a 1.5% increase to the monthly dividend, which will rise to $0.0617 per share.
Whitecap raised its average production guidance for 2026 to 392,000 boe/d. It also increased its capital expenditure plan for the year to approximately $2.2 billion.
For 2027, the company set a capital budget of $2.4 billion to $2.6 billion. It expects production to reach 400,000 to 410,000 boe/d.