CALGARY – Whitecap Resources Inc. is boosting its production outlook for 2026 after it churned out record output for the first three months of the year.
The Calgary-based oil and gas company is increasing its full-year production targets by 7,500 barrels of oil equivalent per day to between 378,000 and 382,000 boe/d while maintaining its capital expenditure budget at between $2 billion and $2.1 billion.
Whitecap, which absorbed producer Veren Inc. last year in a $15-billion deal, reported record oil and gas output of 391,416 barrels of oil equivalent per day during the quarter.
A year earlier, Whitecap had production of 179,051 barrels of oil equivalent per day.
Meanwhile, Whitecap posted a drop in net income to $22.3 million for the first three months of the year from $162.6 million during the same period a year earlier.
The profit amounted to two cents per diluted share versus 27 cents in the first quarter of 2025.
This report by The Canadian Press was first published April 29, 2026.
Companies in this story: (TSX:WCP)
