Whitecap announces increase to credit facilities

CALGARY, May 9, 2013 /CNW/ - Whitecap Resources Inc. ("Whitecap", "we", "our" 
or the "Company") (TSX: WCP) is pleased to announce that based on the annual 
borrowing base review, our lenders have agreed to increase our credit facility 
16 percent to $520 million from the previous $450 million. The increase does 
not include our recent Dodsland Viking light oil acquisition announced on 
April 29, 2013 and reflects the high quality nature of our assets and their 
ability to generate considerable cash flow. Whitecap has significant financial 
flexibility for ongoing operations and dividend payments with an estimated 
2013 debt to cash flow ratio of 1.3 times and large un-drawn credit facilities. 
Whitecap Resources Inc. is a dividend paying, oil-weighted company focused on 
providing sustainable monthly dividends to its shareholders and per share 
growth through a combination of accretive oil-based acquisitions and organic 
growth on existing and acquired assets. For further information about Whitecap 
please visit our website at www.wcap.ca. 
Note Regarding Forward Looking Statements and Other Advisories 
This press release contains forward-looking statements and forward-looking 
information (collectively "forward-looking information") within the meaning of 
applicable securities laws relating to the Company's plans and other aspects 
of our anticipated future operations, management focus, strategies, financial, 
operating and production results and business opportunities. Forward-looking 
information typically uses words such as "anticipate", "believe", "project", 
"expect", "goal", "plan", "intend" or similar words suggesting future 
outcomes, statements that actions, events or conditions "may", "would", 
"could" or "will" be taken or occur in the future. In particular, this press 
release contains forward-looking information relating to our assets and their 
ability to generate cash flow, Whitecap's financial flexibility for ongoing 
operations, dividend payments, and our estimated 2013 debt to cash flow ratio. 
The forward-looking information is based on certain key expectations and 
assumptions made by our management, including expectations and assumptions 
concerning prevailing commodity prices, exchange rates, interest rates, 
applicable royalty rates and tax laws; future production rates and estimates 
of operating costs; performance of existing and future wells; reserve and 
resource volumes; anticipated timing and results of capital expenditures; the 
success obtained in drilling new wells; the sufficiency of budgeted capital 
expenditures in carrying out planned activities; the timing, location and 
extent of future drilling operations; the state of the economy and the 
exploration and production business; results of operations; performance; 
business prospects and opportunities; the availability and cost of financing, 
labour and services; the impact of increasing competition; ability to 
efficiently integrate assets and employees acquired through acquisitions, 
ability to market oil and natural gas successfully; our ability to access 
capital; and completion of the non-core asset dispositions on the timing 
contemplated. 
Although we believe that the expectations and assumptions on which such 
forward-looking information is based are reasonable, undue reliance should not 
be placed on the forward-looking information because Whitecap can give no 
assurance that they will prove to be correct. Since forward-looking 
information addresses future events and conditions, by its very nature they 
involve inherent risks and uncertainties. Our actual results, performance or 
achievement could differ materially from those expressed in, or implied by, 
the forward-looking information and, accordingly, no assurance can be given 
that any of the events anticipated by the forward-looking information will 
transpire or occur, or if any of them do so, what benefits that we will derive 
therefrom. Management has included the above summary of assumptions and 
risks related to forward-looking information provided in this press release in 
order to provide securityholders with a more complete perspective on our 
future operations and such information may not be appropriate for other 
purposes. 
Readers are cautioned that the foregoing lists of factors are not 
exhaustive. Additional information on these and other factors that could 
affect our operations or financial results are included in reports on file 
with applicable securities regulatory authorities and may be accessed through 
the SEDAR website (www.sedar.com). 
These forward-looking statements are made as of the date of this press release 
and we disclaim any intent or obligation to update publicly any 
forward-looking information, whether as a result of new information, future 
events or results or otherwise, other than as required by applicable 
securities laws. 
Grant Fagerheim, President and CEO or Thanh Kang, VP Finance and CFO 
Whitecap Resources Inc. 500, 222 - 3 Avenue SW Calgary, AB T2P 0B4  Main Phone 
(403) 266-0767 Fax (403) 266-6975 
SOURCE: Whitecap Resources Inc. 
To view this news release in HTML formatting, please use the following URL: 
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CO: Whitecap Resources Inc.
ST: Alberta
NI: OIL FIN  
-0- May/09/2013 12:00 GMT
 
 
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