Westbrick Sideways Hats

2023 Financial Lookback

Financial Lookback Table
Financial Lookback Table

After Tax Return on Equity (ROE) History

2020 – 3% : where 4 out of 6 gas-weighted public companies were negative

2021 – 20% : with no need to write down book value

2022 – 50% : top decile performer

2023 – 23%: while being fully taxable

  • Revenues and volumes were impacted by the May wildfires, along with December voluntary shut-ins due to low pricing.
  • Throughout the year, Westbrick balanced capital program with cashflow generated to deliver on planned debt reduction, maintain production capability and invest in new projects.

Consistent year after year despite industry headwinds

Performance Track Record – almost all from drilling our own land base

track record graph 1
track record graph 2
track record graph 3
track record graph 4


2023 Production impacted by the Alberta wildfires that occurred in May 2023, where 30,000 BOEPD was shutin for approximately 60 days.

2021 Capex excludes Edson Acquisition - $140MM for 7500 BOEPD

Westbrick Sideways Hats


Company Interest Reserves Table
  • Assets are performing within expectations with positive technical revisions across all categories: PDP (6% of opening balance) TP (4% of opening balance) and TPP categories (0.2% of opening balance)
  • Positive technical revisions over the past 10 years supports GLJ proven estimates (90% certainty)
PDP Growth Graph
PDP Tech Revisions Profile Graph