Last $90.26 USD
Change Today -0.87 / -0.95%
Volume 1.4M
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As of 8:04 PM 08/28/14 All times are local (Market data is delayed by at least 15 minutes).

whiting petroleum corp (WLL) Key Developments

Whiting Petroleum Corp. Reports Unaudited Consolidated Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Production Guidance for Third Quarter of 2014; Revised Production and Financial Guidance for 2014

Whiting Petroleum Corp. reported unaudited consolidated earnings and operating results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues and other income of $835,622,000 compared to $663,569,000 for the same period of last year. Income before income taxes was $251,343,000 compared to $207,971,000 for the same period of last year. Net income available to common shareholders was $151,444,000 or $1.26 per diluted share compared to $134,687,000 or $1.14 per diluted share for the same period of last year. Adjusted net income was $167,881,000 or $1.40 per diluted share compared to $121,264,000 or $1.02 per diluted share for the same period of last year. Net cash provided by operating activities was $567,769,000 compared to $442,617,000 for the same period of last year. Capex was $768.5 million. For the six months, total revenues and other income was $1,575,871,000 compared to $1,276,940,000 for the same period of last year. Income before income taxes was $436,755,000 compared to $345,735,000 for the same period of last year. Net income available to common shareholders was $260,513,000 or $2.17 per diluted share compared to $220,681,000 or $1.86 per diluted share for the same period of last year. Adjusted net income was $294,031,000 or $2.45 per diluted share compared to $233,016,000 or $1.96 per diluted share for the same period of last year. Net cash provided by operating activities was $891,666,000 compared to $740,231,000 for the same period of last year. Capex was $1,451.9 million. For the quarter, the company produced 8,010 MBbl of oil, 787 MBbl of NGLs, 7,150 MMcf of natural gas and 9,988 MBOE of oil equivalents compared to 6,701 MBbl of oil, 694 MBbl of NGLs, 6,617 MMcf of natural gas and 8,498 MBOE of oil equivalents produced a year ago. For the six months, the company produced 15,251 MBbl of oil, 1,435 MBbl of NGLs, 13,852 MMcf of natural gas and 18,994 MBOE of oil equivalents compared to 12,951 MBbl of oil, 1,404 MBbl of NGLs, 12,988 MMcf of natural gas and 16,520 MBOE of oil equivalents produced a year ago. For the third quarter, the company expects production of 10.50 to 10.90 MMBOE, interest expense per BOE of $3.50 to $3.80, Depreciation, depletion and amortization per BOE of $26.50 to $27.25 and production taxes of 8.25% to 8.45%. Due to better than expected well results and a higher level of non-operated drilling activity, the company is raising 2014 production guidance and capital budget. The company is increasing capital budget to $2.8 billion from $2.7 billion primarily to reflect the increase in non-operated drilling activity. The company is also making a corresponding increase in its 2014 production guidance to a mid-point of 20% over 2013, up from a mid-point of 18% over 2013. For the full year, the company expects production of 40.70 to 41.30 MMBOE, interest expense per BOE of $3.80 to $4.00, Depreciation, depletion and amortization per BOE of $26.20 to $27.00 and production taxes of 8.25% to 8.45%.

Kodiak Oil & Gas Corp., Whiting Petroleum Corp. - M&A Call

To discuss definitive agreement pursuant to which Whiting Petroleum Corporation will acquire Kodiak Oil & Gas Corp.

Whiting Petroleum Corp. to Report Q2, 2014 Results on Jul 30, 2014

Whiting Petroleum Corp. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 30, 2014

Whiting Petroleum Corp., Q2 2014 Earnings Call, Jul 31, 2014

Whiting Petroleum Corp., Q2 2014 Earnings Call, Jul 31, 2014

Whiting Petroleum Corp. Presents at Global Hunter Securities GHS 100 Energy Conference, Jun-25-2014 09:00 AM

Whiting Petroleum Corp. Presents at Global Hunter Securities GHS 100 Energy Conference, Jun-25-2014 09:00 AM. Venue: JW Marriott Hotel, 151 W. Adams St, Chicago, Illinois, United States. Speakers: Peter W. Hagist, Senior Vice President of Planning.

 

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Price/Sales 3.7x
Price/Book 2.7x
Price/Cash Flow 6.3x
TEV/Sales 2.7x
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