Seeking Alpha

Whiting Petroleum posts mixed Q4 results but sees rising output, +2.4% AH

  • Whiting Petroleum (WLL) +2.4% AH after posting an unadjusted Q4 loss as costs for exploration, production and interest spiked, but revenues rose 25% Y/Y to $720.5M, beating Wall Street estimates.
  • Average Q4 production rose 17% Y/Y and 9% Q/Q to nearly 101K boe/day.
  • Plans a 2014 capital spending budget of $2.7B, which WLL expects to yield Y/Y production growth of 17%-19%.
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