Summary of 2022 Reserves
 

Reserves as of December 31, 2022

  Company Share Reserves
Description Light &
Medium Oil
 (Mbbl)
Tight
Crude Oil
(Mbbl)
Conventional
Natural Gas
(MMcf)
Shale
Gas
(MMcf)
Natural Gas Liquids
(Mbbl)
Total
(Mboe)
Proved developed producing
Proved developed non-producing
Proved undeveloped
220,371
2,941
106,514

324

727

9,393

377,396
6,172
190,648

266,241

47,926

944,099

49,224
4,101
104,466
377,192
16,786
409,498
Total Proved
Probable
329,827
119,065

10,444

8,851

574,216
242,773

1,258,266

877,640

157,791
100,163
803,475
414,815
Total Proved plus Probable 448,892 19,295 816,989 2,135,906 257,954 1,218,291

Net Present Values

Summary of Before Tax Net Present Values (Forecast Pricing) As at December 31, 2022

 
 

Before Tax Net Present Value ($MM) (1) Discount Rate
Description 0% 5% 10% 15% 20%
Proved developed producing
Proved developed non-producing
Proved Undeveloped
9,551
491
9,962
7,916
407
6,728
6,563
353
4,813
5,638
315
3,584
4,984
286
2,747
Total proved
Probable
20,004
14,061
15,051
7,967
11,729
5,240
9,537
3,754
8,016
2,845
Total proved plus probable 34,065 23,018 16,969 13,291 10,861

(1) Includes abandonment and reclamation costs as defined in NI 51-101 for all of our facilities, pipelines and wells including those without reserves assigned.


Profitably Converting PDP Reserves to Cashflow

WCAP_PDP-RR_chart_2022.png
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

WCAP_P1P2-R_chart_2022.png

Click here for full details and disclaimers on our 2022 year end reserves