Whiting Petroleum Corp. (
) are now little changed, with a day low of $54.50 and a day high
WLL reported Q1 2012 net income available to common shareholders
of $98.2 million, or $0.83 per diluted share, and adjusted net
income of $122.0 million, or $1.03 per diluted share. Analysts
surveyed by Thomson Reuters expected earnings of $1.06 per share on
revenue of $538.67 mln, on average.
Production in the first quarter of 2012 totaled a record 7.348
million barrels of oil equivalent (MMBOE), of which 85% were crude
oil/natural gas liquids. This first quarter 2012 production total
is a new record daily average production rate of 80,747 barrels of
oil equivalent (
). The first quarter average daily production rate of 80,747 BOE
represented a 22% increase over the first quarter 2011 average
daily rate and a 14% increase over the 70,685 BOE per day in the
fourth quarter of 2011.
The company raised its production guidance for 2012, projecting
a range of 29.0 MMBOE to 30.2 MMBOE or 79,235 BOE per day to 82,515
BOE per day, which equates to a 17% to 22% increase over the 24.8
MMBOE produced in 2011. This compares to prior guidance of 28.30
MMBOE to 29.70 MMBOE or 77,300 BOE per day to 81,100 BOE per day,
which included Trust II volumes.
WLL is trading within the 52-wk range of 28.87 - 73.06.
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