Businessweek

Whiting Petroleum Corp. announced that its Board of Directors declared a dividend of $1.5625 per share on its 6.25% convertible perpetual preferred stock. The dividend is payable on June 17, 2013 to holders of record on June 1, 2013.

Whiting Petroleum Corporation at its annual meeting of stockholders on May 7, 2013, elected Michael B. Walen as director for term expiring at the 2016 annual meeting of stockholders and until his successor is duly elected and qualified.

Whiting Petroleum Corp. Presents at Citi's Global Energy and Utilities Conference, May-14-2013 03:35 PM. Venue: Hyatt Regency, One Avenue De Lafayette, Boston, Massachusetts, United States. Speakers: James J. Volker, Chairman, Chief Executive Officer and Director of Whiting Oil & Gas Corporation, James T. Brown, President and Chief Operating Officer.

Whiting Petroleum Corp. announced unaudited consolidated earnings and operating results for the first quarter ended March 31, 2013. For the period, the company reported total revenues and other income was $613,371,000 compared to $563,706,000 for the same period a year ago. Income before income taxes was $137,764,000 compared to $157,445,000 for the same period a year ago. Net income available to shareholders was $86,263,000 compared to $98,470,000 for the same period a year ago. Net income available to common shareholders was $85,994,000 or $0.72 per diluted share compared to $98,201,000 or $0.83 per diluted share for the same period a year ago. Adjusted net income was $111,640,000 compared to $122,614,000 for the same period a year ago. Adjusted net income available to common shareholders per diluted share was $0.94 compared to $1.03 for the same period a year ago. Discretionary cash flow in the first quarter totaled a record $401.1 million. For the quarter, the company reported its production totaled a record 8.022 million barrels of oil equivalent (MMBOE), of which 87% were crude oil/natural gas liquids. This first quarter 2013 production total equates to a daily average production rate of 89,135 barrels of oil equivalent (BOE), representing a 10% increase over the first quarter 2012 average daily rate of 80,747 BOE per day and a 4% increase over the fourth quarter 2012 average daily rate of 86,055 BOE per day. The company also reported impairment expense of $11,528,000 for the first quarter of 2013 compared to $11,151,000 for the same period a year ago. The company also provided operating guidance for the second quarter and full year of 2013. For the second quarter of 2013, the company’s production expected to be in the range of 8.25 MMBOE to 8.45 MMBOE. Depreciation, depletion and amortization per BOE expected to be in the range of $25.00 to $26.00. For the full year, production expected to be in the range of 33.80 MMBOE to 35.00 MMBOE. Depreciation, depletion and amortization per BOE expected to be in the range of $25.25 to $26.25. Capital budget was $2,200.0 million. The company expects continuing quarter-over-quarter and year-over-year production increases.

Whiting Petroleum Corp., Q1 2013 Earnings Call, Apr 25, 2013