Summary of 2023 Reserves
 

Reserves as of December 31, 2023

  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
201,566
2,313
102,255

737

0

8,664

318,561
7,271
162,792

319,542

30,901

997,087

51,755
7,553
111,426
360,409
16,228
415,658
Total Proved
Probable
306,134
108,069

9,401

8,000

488,624
196,423

1,347,530

869,388

170,734
84,194
792,294
377,897
Total Proved plus Probable 414,203 17,400 685,046 2,216,918 254,927 1,170,191

Net Present Values

Summary of Before Tax Net Present Values (Forecast Pricing) As at December 31, 2023

 
 

Before Tax Net Present Value ($MM) (1) Discount Rate
Description 0% 5% 10% 15% 20%
Proved developed producing
Proved developed non-producing
Proved Undeveloped
8,052
487
9,144
6,765
386
6,000
5,593
324
4,168
4,779
283
3,007
4,201
252
2,223
Total proved
Probable
17,683
11,773
13,151
6,611
10,085
4,334
8,068
3,112
6,676
2,373
Total proved plus probable 29,456 19,762 14,419 11,180 9,049

(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_2023.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_2023.png

Click here for full details and disclaimers on our 2023 year end reserves