Deal Insight

Whitecap acquires Canadian light oil properties from Imperial

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Report summary

Canadian midcap Whitecap Resources will acquire BC / Cardium assets from Imperial Oil for US$627 million. Acquired production of 6,500 boe/d (83% liquids) will increase Whitecap's existing production base by approximately 23%. We value the assets at US$606 million, yielding an implied long-term oil price of US$87/bbl. Though Whitecap will pay close to full value for the assets, successful application of secondary recovery techniques and/or operational efficiency gains could unlock value upside.

What's included

This report contains

  • Document

    Whitecap acquires Canadian light oil properties from Imperial

    PDF 656.52 KB

Table of contents

  • Executive summary
  • Transaction details
    • West Pembina
    • Ferrier/Willesden Green - Rocky Mountain House
    • Boundary Lake, Northeast British Columbia
    • Additional transaction with Keyera
  • Deal analysis
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 9 images and tables including:

Tables

  • Executive summary: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Upstream assets: Table 1
  • Upstream assets: Table 2

Images

  • Cardium Pembina West - IP rates by operator

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