03:53 PM EDT, 05/15/2024 (MT Newswires) -- Whitecap Resources ( SPGYF ) on Wednesday said it received approvals from the Toronto Stock Exchange to buy back and cancel up to 59.11-million shares over the next month through a normal-course issuer bid.

The Western Canadian oil and gas producer said the allowed amount represents 10% of the company's public float of shares. The renewed buyback program takes effect on May 23.

Under its expiring NCIB, the company repurchased 8.62 million of an allowed 59.72-million shares.

The company's shares were last seen up $0.08 to $10.31 on the Toronto Stock Exchange.

Price: 10.32, Change: +0.09, Percent Change: +0.88