Whitecap Resources Inc. reported unaudited earnings and production results for the second and six months ended June 30, 2012. For the quarter, the company reported funds from operations of $40,132,000 or $0.33 per diluted share, net income of $26,536,000 or $0.22 per diluted share compared to funds from operations of $19,858,000 or $0.29 per diluted share, net income of $12,169,000 or $0.18 per diluted share for the same period a year ago. Development capital expenditures were $39,667,000 against $19,156,000 a year ago. Net property acquisitions were $3,087,000 against $9,947,000 a year ago. Total commodity revenues were $69,478,000 against $34,271,000 a year ago. Cash flow from operating activities was $10,828,000 against $17,294,000 a year ago.

For the six months, the company reported funds from operations of $73,403,000 or $0.72 diluted per share, net income of $34,214,000 or $0.34 diluted per share compared to funds from operations of $28,144,000 or $0.51 diluted per share, net income of $12,219,000 or $0.22 diluted per share for the same period a year ago. Development capital expenditures were $103,414,000 against $40,861,000 a year ago. Net property acquisitions were $8,920,000 against $35,114,000 a year ago. Total commodity revenues were $126,130,000 against $50,516,000 a year ago. Cash flow from operating activities was $45,748,000 against $26,586,000 a year ago.

For the quarter, the company produced crude oil of 8,057 bbls/d against 3,155 bbls/d a year ago. NGLs were 1,073 bbls/d against 223 bbls/d a year ago. Natural gas was 26,573 Mcf/d against 11,770 Mcf/d a year ago. Total production volumes increased 154% to 13,559 boe/d compared to 5,339 boe/d in the prior year.

For the six months, the company produced crude oil of 7,112 bbls/d against 2,404 bbls/d a year ago. NGLs were 765 bbls/d against 202 bbls/d a year ago. Natural gas was 22,766 Mcf/d against 9,232 Mcf/d a year ago. Total production was 11,672 boe/d compared to 4,145 boe/d in the prior year.

The company expects to drill an additional 11 wells in this area in the second half of 2012.

The company announced that Murray Mullen has joined the board of directors of the company. Murray is currently the chairman and CEO of Mullen Group Ltd.