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Whitecap Resources Plans More Gas Drilling in Late 2022 as Prices Surge

  • Company made record C$652 million in 1Q, plans debt repayment
  • Alberta firm sees high cost inflation, supply chain challenges
Flares As Natural Gas Tumbles After 'Momentum Killer' U.S. Storage Gain
Photographer: Bronte Wittpenn/Bloomberg
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Whitecap Resources Inc., a Canadian conventional and shale driller, plans to increase natural gas activity in the second half of the year to capitalize on a surge in prices, Chief Executive Officer Grant Fagerheim said. 

The Calgary-based company will increase its gas-focused capital program, Fagerheim said Wednesday in a phone interview. The plan to drill for more gas comes after Alberta prices for the commodity surged to more than $6 per million British thermal units, the highest since 2014.