Summary of 2021 Reserves
 

Reserves as of December 31, 2021

  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
222,980
3,676
115,735

294

-

10,197

344,425
4,194
148,408

60,039

18,377

218,424

29,607
2,022
29,107
320,291
9,460
216,178
Total Proved
Probable
342,392
124,403

10,490

8,796

497,027
204,802

296,840

159,771

60,736
29,219
545,930
223,180
Total Proved plus Probable 466,796 19,286 701,829 456,611 89,955 769,110

Net Present Values

Summary of Before Tax Net Present Values (Forecast Pricing) As at December 31, 2021

 
 

Before Tax Net Present Value ($MM) (1) Discount Rate
Description 0% 5% 10% 15% 20%
Proved developed producing
Proved developed non-producing
Proved Undeveloped
6,506
269
4,436
5,639
212
2,804
4,686
176
1,877
4,011
151
1,308
3,532
132
937
Total proved
Probable
11,210
7,850
8,655
4,291
6,738
2,796
5,469
2,011
4,601
1,540
Total proved plus probable 19,061 12,946 9,534 7,481 6,141

(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.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.png

Click here for full details and disclaimers on our 2021 year end reserves