Summary of 2019 Reserves

Reserves as of December 31, 2019

  Company Share Reserves
Description Oil (Mbbl) Gas (MMcf) NGL (Mbbl) Total (Mboe)
Proved producing
Proved non-producing
Proved undeveloped		 180,317
2,107
101,691		 190,532
1,427
143,187		 13,250
44
9,788		 225,322
2,388
135,343
Total Proved
Probable		 284,115
101,281		 335,145
180,433		 23,081
12,959		 363,053
144,312
Total Proved plus Probable 385,396 515,578 36,040 507,365

Net Present Values

Summary of Before Tax Net Present Values (Forecast Pricing) As at December 31, 2019

 
 		 Before Tax Net Present Value ($MM) (1) Discount Rate
Description 0% 5% 10% 15% 20%
Proved producing
Proved non-producing
Undeveloped		 5,822
89
2,959		 4,202
62
1,822		 3,283
47
1,168		 2,713
37
769		 2,327
30
514
Total proved
Probable		 8,871
5,496		 6,086
2,860		 4,497
1,778		 3,519
1,229		 2,871
910
Total proved plus probable 14,367 8,947 6,275 4,748 3,781
Per fully diluted share 34.44 21.45 17.15 15.04 11.38

(1) Includes abandonment and reclamation costs as defined in NI 51-101.

Profitably Converting PDP Reserves to Cashflow


RECYCLE RATIO is a key measure of profitability in the oil and gas industry. The ratio is calculated by dividing the profit per barrel of oil by the cost of finding and developing the barrel of oil. Whitecap focuses on PDP recycle ratio as this reflects whether we are generating sufficient cashflow to replace the barrels we are producing, and therefore can grow economically through internally generated cashflow.

Sustainable Reserves Growth

Click here for full details and disclaimers on our 2019 year end reserves