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Whitecap Resources Inc. (Friday’s close US$6.9810) has its eye on reducing debt and upping cash returns to shareholders. Based on assumed oil & gas prices, Whitecap hopes to reduce net debt to $1.8-billion by the end of 2022. If successful, it could consider boosting its dividend. In 2023, the company expects to produce midpoint of 171,000 barrels of oil equivalent a day (64-per-cent liquids). Meanwhile, we continue to see insider accumulation that includes chief executive officer Grant Fagerheim buying 25,000 shares with an average price of $8.61 between Aug. 16 and Sept. 26.

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Ted Dixon is CEO of INK Research, which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.

Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.

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