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What’s Been Driving Whiting Petroleum Stock Lately?


Nov. 20 2020, Updated 5:07 p.m. ET

Whiting Petroleum stock

Whiting Petroleum (WLL) stock is slowly making its way upwards in the aftermath of its 4Q17 earnings. After Whiting Petroleum’s (WLL) earnings release on February 21, its stock closed 20% higher.

Whiting reported better-than-expected adjusted EPS (earnings per share) of -$0.17 compared with Wall Street analysts’ estimate of -$0.3. The year-over-year improvement in earnings was supported by higher revenues as a result of high oil and gas prices.

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Year-over-year, WLL stock has fallen ~31.5%. In comparison, the Energy Select Sector SPDR ETF (XLE) has fallen ~6.2% year-over-year. Both XLE and WLL have underperformed the broader market ETF (SPY). The S&P 500 SPDR ETF rose ~15% in the same period. To know more about WLL’s performance, read Whiting’s Upbeat 4Q17: Just What the Stock Needed?

Whiting’s strategy for 2018

Whiting Petroleum’s capex guidance for fiscal 2018 is $750 million versus $912 million capex in fiscal 2017. Production guidance for 2017 was lower by 10.6% compared to 2016 production levels. In contrast, Whiting Petroleum’s fiscal 2018 production guidance is ~9% higher than 2017 production.

The company expects to spend 80% of its 2018 capex budget in the Williston Basin and 10% in the Redtail region. Commenting on its 2018 strategy, WLL management noted during the 4Q17 earnings conference, “Whiting plans to implement an optimized completion strategy to maximize capital efficiency on a project basis.”

The management also added that it will  focus more on its Bakken operations, and said that it is “exploring the monetization of Redtail.”


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