Whitecap Resources Inc. announce the successful completion of its previously announced acquisition of certain strategic light oil assets located predominantly in its core Valhalla and Garrington operated areas of Alberta for total consideration of $173.6 million (the "Acquisition") as previously detailed in our June 27, 2013 press release. The Acquisition adds 2,900 boe/d (56 percent oil and NGLs) of high netback, low base decline production (16 percent current decline rate) in areas where Whitecap already operates 96 percent of the production.

We continue to focus on maximizing total shareholder return and the Acquisition solidifies Whitecap as a premier intermediate oil-weighted, dividend paying company focused on per share growth in cash flow, production and reserves. Whitecap has demonstrated the sustainability of its dividend-growth strategy in the first half of 2013 and will continue to do so for the balance of the year and into 2014 and 2015.

Tags: Whitecap Resources