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What to Expect from Whiting Petroleum for the Rest of 2017

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Part 7
What to Expect from Whiting Petroleum for the Rest of 2017 PART 7 OF 10

How Have Whiting Petroleum’s Earnings and Revenues Trended?

WLL’s 2Q17 earnings

Whiting Petroleum (WLL) reported its 2Q17 earnings on July 26, 2017. The graph below shows its earnings and revenue history since 2Q15. WLL’s 2Q17 EPS (earnings per share) was -$0.18 compared to -$0.70 in 2Q16 and $0.04 in 2Q15. As we can see in the image below, WLL’s EPS has been negative since 3Q15.

How Have Whiting Petroleum’s Earnings and Revenues Trended?

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To know more about WLL’s performance in 2Q17, read Why Whiting Petroleum’s Stock Fell after Its 2Q17 Release.

In comparison, upstream peer Oasis Petroleum (OAS) reported 2Q17 EPS of -$0.05, and Apache (APA) reported EPS of -$0.21. To know more about how the above companies performed in 2Q17, you can check Oasis Petroleum’s 2Q17 Results: Close to Expectations and Why Apache Stock Fell on 2Q17 Results.

WLL’s 2Q17 revenue

As we’ve seen, WLL’s revenue has fallen considerably since 2Q15. The company’s 2Q17 revenue was $311 million. In comparison, its revenue was $337 million in 2Q16 and $371 million in 1Q17.

As we can see in the above graph, WLL’s revenue has risen year-over-year. However, it has fallen compared to the previous quarter. This was probably due to higher realized prices in 2Q17 compared to 2Q16. However, 2Q17 realized prices were lower compared to 1Q17. WLL’s average realized price was $33.10 per boe (barrels of oil equivalent) in 2Q17 compared to $28 per boe in 2Q16. Its average realized price in 1Q17 was $35.29 per boe.

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