The story
Whitecap Resources was founded in 2009. Its daily production grew rapidly in the following years, from 275 barrels of energy per day in 2009 to 14,052 in 2012. In 2012, it acquired Midway Energy, another Alberta light oil producer, for $550 million. In 2016, Whitecap bought some of Husky Energy's oil assets in Southwest Saskatchewan for $595 million.
In 2017, Brad Wall, then-premier of Saskatchewan, invited Whitecap to move to that province, citing lower taxes and subsidized relocation costs. The company said it would only move if it benefited shareholders.
In November 2017, Whitecap purchased a 62% interest in the Weyburn oil project in Saskatchewan for $940 million from Cenovus Energy. The deal was expected to increase Whitecap's oil production by 25%.
On March 10, 2025, Whitecap announced its intent to acquire Veren in a $15 billion transaction. The acquisition was completed on May 12, 2025.
From Wikipedia’s article on Whitecap Resources, shared under CC BY-SA 4.0.7
