The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Luke Davis - RBC Capital Markets, Research Division - Analyst
: I just had a question regarding inflation. Grant, you kind of hit it in your opening remarks and maybe you can expand on that a little bit. Just
wondering how we should think about the second half capital program, whether you see an increase there is kind of imminent. Or can you continue
to sort of squeeze further efficiencies out at this point?
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APRIL 28, 2022 / 3:00PM, WCP.TO - Q1 2022 Whitecap Resources Inc Earnings Call
Question: Luke Davis - RBC Capital Markets, Research Division - Analyst
: That's helpful. Another one for me. I'm just curious, given where pricing is currently sitting and just how quickly wells are paying out, how good
the economics look, how are you thinking about capital allocation just between incremental drilling and return of capital initiatives? Is there any
desire to put incremental growth capital into the ground at this point?
Question: Luke Davis - RBC Capital Markets, Research Division - Analyst
: Okay. Got it. Final one for me. Just on M&A. Just curious to get your thoughts on what you're seeing in the market currently (inaudible) spread
sitting. What are you using in terms of pricing to evaluate yields versus where sellers might be at? And can you really get deals done accretively
here? Or is that kind of just something that's sitting on the back burner for now?
Question: Travis Wood - National Bank Financial, Inc., Research Division - Analyst
: So if you answered this, you can just give me the quick elevator answer. But you made some comments around inflation, no change to capital for
the year, reiterated guidance. Can you give us -- kind of unpack that a little bit more in terms of where you're seeing the pressures and maybe also
if you see any on the OpEx side?
Question: Travis Wood - National Bank Financial, Inc., Research Division - Analyst
: Okay. And then just on the OpEx side, is that starting to show up in chemicals and kind of operating line items? Or do you think it's going to be on
the [CapEx side notably]?
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