Q2 2022 Whitecap Resources Inc Earnings Call

Perspective, our second quarter funds flow of $1 eight per share.

Was higher than the $1 six per share that we earned for all of 2020, what a difference a year and a half mix.

The quarter also ended with the announcement of our acquisition of <unk>, Canada. On June 28, we are very excited about this transaction. We are on track to close it before the end of the third quarter.

In the second quarter, we generated record funds flow of almost $600 million.

Which was $175 million of it being returned to shareholders through our base dividend and share repurchases.

We also ended the quarter with approximately $675 million of debt well below our $800 million target that we're leading.

What we saw leading into the end of the quarter.

Darin will give.

A few more details on our operational highlights, but I wanted to touch base on a recent montney wells that we alluded to in our press release this morning.

Both the initial well results from a 12 33 pad and the continued productivity from the 2014 to 13 pad validate our assessment of the quality of the Montney opportunity that we.

We have along with the improvement and well placement and associated completion techniques that we have employed our ownership in both of these pads and a total of 34 sections at <unk> will be increasing to 100% working interest once we close the <unk> transaction, we look forward to closing the <unk> acquisition.

And putting capital to work on these assets in the fourth quarter I will now pass it on to Darren to highlight more of our recent operational achievements. Thank you.

Thanks Grant.

Our Q2 production outperformance was driven by one continued identification and implementation of production optimization on our acquired assets, particularly in central Alberta.

And to our Q1 drilling program significantly outperforming initial productivity expectations.

Since taking over operations at <unk> in mid 2021, we have been utilizing advanced analytics and modeling to proactively optimize the design and implementation of our Montney fracture stimulation.

This includes optimized.

With regard.

Sure.

Sue.

Sue.