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Whiting Petroleum (WLL) closes the sale of its Enhanced Oil Recovery projects to BreitBurn...

Whiting Petroleum (WLL) closes the sale of its Enhanced Oil Recovery projects to BreitBurn Energy (BBEP) for net proceeds of $836M. The company also updates Q2 guidance saying production exceeded the high end of its previous outlook at 8.5 MMBOE, an increase of 15.7% Y/Y. Shares -3.25% AH after the update. (PR)
Comments (4)
  • Shares down 3.25% in after hours? I think that is bogus...google finance currently showing down $0.07 after hours and I am surprised it is not UP considering the Q2 production beat and the cash infusion from this sale.
    15 Jul 2013, 04:22 PM Reply Like
  • Michael,
    I think it's a new tactic, or atleast a revival. Seems to be happening across the board to many stocks. Like an algorithm. Price usually spikes back w/in a week.
    Just thinking out loud.
    15 Jul 2013, 04:42 PM Reply Like
  • Nope, it's just an incorrect quote. Google was showing it down a few pennies after hours, and right now, Yahoo finance is showing after hours trading ended at 48.39 Up 0.03 (0.06%). So the -3.25% AH quote was, obviously, totally incorrect.
    15 Jul 2013, 07:36 PM Reply Like
  • Just more of the same, market manipulation!
    15 Jul 2013, 09:38 PM Reply Like
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