08:05 AM EST, 12/16/2024 (MT Newswires) -- Whitecap Resources ( SPGYF ) on Monday said fourth-quarter production is now forecast to average 175,500 boe/d (65% liquids), above its previous guidance of 170,000 boe/d. Full-year production is expected to average 174,000 boe/d, 5% above Whitecap's original guidance of 162,000 - 168,000 boe/d.

The company's annual production per share growth in 2024 is expected to be 13%, above the company's targeted 3% - 8% annually. Operational outperformance has been driven by new wells and lower than forecasted downtime, the company said.

Whitecap will pay a cash dividend of $0.0608 per share on Jan. 15.