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CS - Whitecap reduces H2 capex by 17% and adds $200MM in debt - September 2019
Whitecap Resources will cut $50 million from capex, lowering the E&P firm’s capex budget to $249 million for H2 and to $400 million for FY19. The company also added $200 million in bank debt. Despite the capex cut, Whitecap’s 2019 average production guidance of 70,000-72,000 boe/d remains unchanged, as does its Q4 expectation of 74,000-75,000 boe/d. The company did not specify where the cuts would be made. In reporting its Q2 results on Aug.......
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