Whitecap Resources Inc. says 2022 operations have been impacted by cost inflation, labour shortages and supply constraints from service providers, and the company’s management expects these pressures will continue to rise through the balance of the year.

“Our 2022 capital program has been designed to drill upwards of 200 wells and has been impacted marginally by supply chain, labour and logistical challenges,” Grant Fagerheim, president and CEO, said during Whitecap’s Q1 conference call.

To read the Daily Oil Bulletin’s latest guidance report, which features corporate announcements made in April 2022, click here to access it directly, or click on the Guidance tab on the DOB website.

The guidance report provides 2022 forecasts for capital spending, drilling and production for companies headquartered in Canada and the U.S. This is the first monthly report for the 2022 guidance season. We will continue with monthly updates until we resume weekly reports later this year for 2023 announcements.

Data for the report is powered by Evaluate Energy.

Editor’s note: Following a year that saw significant increases in cash flow generated across the North American upstream industry, many Canadian and U.S. producers have set larger capital spending budgets for 2022.

The Daily Oil Bulletin’s new infographic on 2022 capital spending outlines spending forecasts for North American producers, as well as key takeaways. Click here to view.