Whitecap Resources Inc. Completes Strategic Combination with Veren Inc., Elevating Its Market Position

CALGARY, AB, May 12, 2025 — In a significant move within the Canadian energy sector, Whitecap Resources Inc. has successfully closed its strategic combination with Veren Inc., marking a pivotal moment for the company. This merger has positioned Whitecap as the seventh largest oil and natural gas producer in Canada, and notably, the fifth largest natural gas producer. The transaction, which has been widely covered by financial news outlets, underscores Whitecap’s ambition to solidify its standing in the energy landscape.

The combination with Veren Inc. not only enhances Whitecap’s production capabilities but also significantly increases its production guidance. This strategic move is expected to drive substantial growth and sustainability in production over the coming decades. Whitecap now boasts the largest landholdings in the Alberta Montney and Duvernay regions, alongside a prominent presence as a light oil producer in Saskatchewan. These assets provide Whitecap with a robust portfolio of premium drilling opportunities, ensuring a steady flow of funds and sustainable growth.

Whitecap’s leadership is keen on leveraging the combined asset base and technical expertise to drive future growth. The merger is anticipated to create synergies that will enhance operational efficiencies and optimize resource utilization. This strategic alignment is expected to benefit shareholders through improved financial performance and increased shareholder value.

Financially, Whitecap Resources Inc. has shown resilience and potential for growth. As of May 8, 2025, the company’s close price stood at CAD 8.04, with a market capitalization of CAD 4.58 billion. Despite fluctuations in the past year, with a 52-week high of CAD 11.31 and a low of CAD 6.87, the company’s strategic initiatives, including the Veren combination, are likely to positively influence its market performance.

The merger also reflects Whitecap’s strategic vision to expand its footprint and capabilities in the Canadian oil and natural gas sector. By integrating Veren’s assets and expertise, Whitecap is well-positioned to capitalize on emerging opportunities and navigate the evolving energy landscape.

In conclusion, the successful closing of the Veren combination marks a transformative chapter for Whitecap Resources Inc. The company is now better equipped to pursue its growth objectives and deliver value to its stakeholders. As the energy sector continues to evolve, Whitecap’s strategic positioning and enhanced capabilities position it as a formidable player in the Canadian market.