Whitecap expects production to come in at high end of forecast range after Veren deal
CALGARY — Whitecap Resources Inc. says it's made good progress toward integrating the people and assets it acquired through its combination with Veren Inc. this spring.
The deal closed in mid-May and chief executive Grant Fagerheim says there have been 'plenty of early wins' on cutting corporate costs and improving Whitecap's credit profile.
Whitecap says it expects production this year to come in at the high end of its forecast range of between 295,000 and 300,000 barrels of oil equivalent per day.
Its capital budget for 2025 remains unchanged at $2 billion.
The Calgary-based company is beginning its budgeting process for 2026, and Fagerheim says there are a lot of projects to choose from and the spending program can easily be tailored to commodity pricing.
The all-stock transaction with Veren resulted in Whitecap becoming the biggest landholder in the Montney and Duvernay shales in Alberta and B.C. and the second-largest oil producer in Saskatchewan.
This report by The Canadian Press was first published July 24, 2025.
Lauren Krugel, The Canadian Press
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