WCP’s commodity marketing strategies focus on continuous development of reliable, safe and cost-effective transportation opportunities to ensure uninterrupted access to diverse markets, resulting in optimum netbacks
Our extensive relationships with creditworthy refiners, end users, midstream facility operators, commodity purchasers and transporters strengthens our ability to attract, evaluate and execute on a diverse range of opportunities
WCP utilizes its unique operated infrastructure across our operating regions to enhance access to a variety of commodity sales streams and delivery points, further mitigating risks and enhancing commodity netbacks
WCP employs three main modes of transportation to move products to markets safely:
The objective of Whitecap’s risk management program is to protect economic returns and mitigate commodity price volatility with a systematic hedging program.
Whitecap’s risk management strategy is to have downside price protection with upside participation and will employ derivative products including Costless Collars and Swaps.
Refer to Note 5 of Whitecap’s audited annual consolidated financial statements for the period ended December 31, 2020 for the details of our hedge positions.
|Current Oil Hedges
(as of february 23, 2021)
|Percentage of production hedged||41%||36%||9%|
|SWAP production hedged (bbls/d)
AVERAGE SWAP PRICE (c$/bbl)
Collar production hedged (bbls/d)
Average floor / ceiling price (C$/bbl)
$52.76 x $67.22
$49.00 x $65.99
We actively optimize our natural gas and NGL processing, transportation, fractionation and sales arrangements in conjunction with capital development strategies.
Our relationships, logistical capabilities and our operated asset base ensure we have uninterrupted access to diverse markets at optimal netbacks