whitecap achieves record production of 16,900 boe/d and provides operational update

WHITECAP ACHIEVES RECORD PRODUCTION OF 16,900 BOE/D AND PROVIDES OPERATIONAL UPDATE

CALGARY, ALBERTA – Whitecap Resources Inc. ("Whitecap", “we”, “us”, “our” or the "Company") (TSX: WCP) is pleased to report that we have achieved record production of 16,900 boe/d (71% light oil and NGLs) for the month of September, 2012 (based on field estimates). This represents an increase of 25% over second quarter 2012 production and a 153% increase over September 2011 production. On a fully diluted per share basis, this represents an increase of 45% over September 2011 production. Whitecap’s third quarter 2012 average production will be within our previous guidance of 15,500 – 16,000 boe/d.

OPERATIONAL UPDATE

We have had a very active summer program with outstanding production additions and capital efficiencies. In the third quarter of 2012 we drilled 41 (32.3 net) wells, all of which were horizontal oil wells, and achieved a 100% success rate.

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