Summary of 2024 Reserves
 

Reserves as of December 31, 2024

  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		 191,107
2,377
100,277

620

-

9,185

 339,901
5,092
161,391

338,367

44,901

1,012,874

 62,358
4,427
118,664		 367,131
15,136
423,836
Total Proved
Probable		 293,761
100,605

9,805

6,200

 506,384
197,985

1,396,141

916,748

 185,449
104,520		 806,103
397,114
Total Proved plus Probable 394,366 16,005 704,369 2,312,889 289,969 1,203,216

Net Present Values

Summary of Before Tax Net Present Values (Forecast Pricing) As at December 31, 2024

 
 

 Before Tax Net Present Value ($MM) (1) Discount Rate
Description 0% 5% 10% 15% 20%
Proved developed producing
Proved developed non-producing
Proved Undeveloped		 7,388
390
7,560		 6,455
305
4,969		 5,439
253
3,417		 4,711
218
2,425		 4,186
192
1,756
Total proved
Probable		 15,337
10,800		 11,729
6,024		 9,109
3,967		 7,354
2,877		 6,133
2,217
Total proved plus probable 26,138 17,752 13,076 10,230 8,351

(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_2024.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_2024.png

Click here for full details and disclaimers on our 2024 year end reserves