Improved prices for increased oil, natural gas and liquids volumes, achieved in part on corporate takeovers, fueled a return to profitability by Canadian producer Whitecap Resources Inc. in the first three months of this year.

Whitecap oil production volumes grew year/year to 64,795 b/d from 56,631 b/d, with natural gas volumes hitting 129 MMcf/d from 70.5 MMcf/d. Natural gas liquids (NGL) volumes increased to 9,508 b/d from 5,077 b/d.

Volume growth resulted from takeovers last year of Torc Oil & Gas Ltd. and NAL Resources Ltd. Whitecap set its stage for further growth with a deal in early April to acquire Kicking Horse Oil & Gas Ltd., which has a portfolio of Montney Shale gas and NGL assets.

Whitecap, which reports in Canadian dollars, said realized prices increased in...