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Reading Whiting Petroleum’s Asset Sales on the Horizon


Dec. 12 2017, Updated 7:31 a.m. ET

Asset sales

As Whiting Petroleum (WLL) isn’t generating enough cash flows to pay its debt, chances are that the company might have to rely on asset sales to serve its near-term debt maturities, especially if oil prices can’t sustain the current increases and wind up dropping.

While WLL has no debt maturities until 2019, when asked by an analyst in the 3Q17 earnings conference on how WLL’s management will address that debt, WLL’s management stated the following: “We can’t really comment on that. We’ve got lots of ideas, lots of plans. We will take care of it in time, but I can’t really tell you right now what we’re going to do.”

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WLL’s existing assets

WLL’s existing gross acreage in core areas total nearly 570,000 acres, while in non-core areas, WLL’s gross acreage is closer to 122,000 acres. Its working interest in core areas totals 57%, while its working interest in non-core areas is 71%.

Investors will likely keep a close watch to see if WLL will have to rely on its core or non-core assets in the future to satisfy its debt obligations. You’ll want to keep checking with Market Realist for the latest updates on Whiting Petroleum.


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