Refer to the Specified Financial Measures section in this press release for additional disclosures. Production per share and production per share growth are supplementary financial measures. Net debt is a capital management measure. Shortly after the live webcast, an archived version will be available. The conference call dial-in number is: 1-88 or (587) 880-2175 or (416) 764-8609Ī live audio webcast of the conference call will be accessible on Whitecap's website at selecting "Investors", then "Presentations & Events". We will be releasing our fourth quarter and year end 2022 results after market close on Wednesday, Februand have scheduled a conference call and webcast to begin promptly at 9:00 am MT ( 11:00 am ET) on Thursday, February 23, 2023. We expect to grow 2023 annual production to 160,000 – 162,000 boe/d 3 from our 2022 annual production of 144,000 boe/d (13% production per share growth 1) on capital expenditures 4 of $900 - $950 million. We have successfully monetized these non-strategic assets at strong disposition metrics and look forward to demonstrating strong operational performance on our core assets in 2023. The remaining 25% of free funds flow will be used to continue to reduce debt and strengthen our balance sheet. Our plan is to return 75% of free funds flow to our shareholders, which includes our targeted $0.73 per share annual base dividend, once this $1.3 billion net debt milestone is achieved. Proceeds from the dispositions have been used to reduce net debt 1 to $1.5 billion which accelerates achieving our net debt target of $1.3 billion to mid-2023, based on current strip prices 2. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has closed all three previously announced dispositions of certain non-strategic assets for aggregate consideration of $419 million, including $394 million of cash, prior to closing adjustments, and producing assets that consolidate the working interest in one of our core assets.
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