Financial Post – Mining (Canada)

Whitecap Says Scale Gained with Veren Takeover Helped Secure Global Gas Contracts

Whitecap Resources leveraged its May acquisition of rival Veren to boost scale, prompting a credit‑rating upgrade, lower borrowing costs and larger reserves. The expanded footprint enabled the company to lock in two 10‑year natural‑gas supply contracts totaling 85,000 MMBtu per day, priced to U.S. and European benchmarks. By moving roughly half of its pricing exposure out of the discounted Western‑Canada AECO hub, Whitecap aims to capture higher price differentials. The fourth‑quarter results showed record production, net income of $307 million and a $2.9 billion annual funds flow, the second‑highest in its history.