WLL - WLL STOCK NEWS

Whiting Petroleum Corporation (NYSE: WLL) has finalized its acquisition of leasehold interests in the Williston Basin, North Dakota, while simultaneously divesting its Redtail leasehold interests in the Denver-Julesburg Basin, Colorado. This strategic move added approximately 60 drillable locations but had an immaterial effect on current production. The company reaffirmed its revolving credit facility borrowing base at $750 million, funding the $90 million difference in acquisition and divestiture costs with the revolver. Whiting expects to maintain a positive cash balance by year-end.

Whiting Petroleum Corporation (NYSE: WLL) reported second quarter 2021 results with revenue of $352 million and a net loss of $62 million or $1.57 per diluted share. Adjusted net income was $118 million or $3.01 per share. The company generated $183 million in cash from operations, with $111 million of adjusted free cash flow. Production averaged 92.6 MBOE/d, benefitting from better well performance. Whiting also announced asset acquisitions and divestitures to enhance its portfolio. Guidance for 2021 was updated to reflect increased production and cash flow expectations, projecting over $700 million in EBITDAX for the year.

Whiting Petroleum Corporation (NYSE: WLL) announced the acquisition of oil and gas assets in North Dakota's Williston Basin for $271 million and the divestiture of its Denver-Julesburg assets for $187 million. The Williston assets cover 8,752 net acres, providing approximately 4,200 BOE/d, primarily oil. The divestiture includes 67,278 net acres, yielding about 7,100 BOE/d. These transactions aim to enhance Whiting's drilling inventory, particularly in the Sanish operating area, while optimizing capital efficiency. The transactions are expected to close in Q3 2021.

Whiting Petroleum Corporation (NYSE: WLL) reported first quarter 2021 results, showcasing revenue of $307 million, a net loss of $0.9 million, and adjusted net income of $108 million. The company generated $108 million in adjusted free cash flow and maintained a net debt of $220 million. With a significant increase in revenue attributed to rising commodity prices, Whiting anticipates generating $550 million in EBITDA for the year at a $55 WTI oil price, alongside $300 million in adjusted free cash flow.

Whiting Petroleum Corporation (NYSE:WLL) will hold a conference call on May 6, 2021, at 11:00 a.m. ET to discuss first quarter 2021 results. Key executives, including CEO Lynn A. Peterson and CFO James Henderson, will lead the call, followed by a Q&A session. Participants can join via domestic dial-in at (877) 328-5506 or international dial-in at (412) 317-5422. A replay option will be available until May 13, 2021.

Whiting Petroleum focuses on oil and gas development primarily in the Rocky Mountains, with major projects in the Bakken and Niobrara plays.

Whiting Petroleum Corporation (NYSE: WLL) reported fourth quarter and full year 2020 financial results with revenue of $212 million and $732 million, respectively. The company's net loss was $1.2 million, or $0.03 per diluted share, down from a loss of $147 million in Q4 2019. Adjusted EBITDAX was $120 million for the quarter, a decrease from $241 million the previous year. The company emerged from bankruptcy on September 1, 2020, applying fresh start accounting, which has impacted comparability of financials.

Whiting Petroleum Corporation (NYSE: WLL) reported preliminary operating results for Q4 2020. Oil production averaged 55.5 MBO/d, exceeding guidance, while total production reached 91.7 MBOE/d. Crude oil prices averaged $37.89/Bbl, significantly impacting revenue. The company's estimated proved reserves stood at 260 MMBOE with a pre-tax PV10% valuation of $1,197 million. Whiting announced a new executive compensation structure aimed at aligning management incentives with shareholder returns. A conference call is scheduled for February 25, 2021, to further discuss these results.

Whiting Petroleum Corporation (NYSE: WLL) announced its 2021 operating plan, aiming to generate sustainable free cash flow. Key highlights include:

• Forecasted annual oil production of 50 MBO per day.
• Estimated capital expenditures of $240 million.
• Plan to drill 37 gross operated wells.

Whiting aims to maintain flat production levels compared to 2020, with $390 million in liquidity. Their capital program is hedged for price stability on 60% of expected crude oil volumes. Additionally, there will be a focus on aligning executive compensation with shareholder interests.

Whiting Petroleum Corporation (NYSE:WLL) will release its third quarter 2020 financial results on November 5, 2020, after market close. A conference call to discuss these results will take place on November 6, 2020, at 11:00 a.m. ET. Participants can pre-register for the call through a provided link. A telephonic replay will be available shortly after the call ends, lasting until November 13, 2020. Whiting Petroleum focuses on exploring and producing oil and gas primarily in the Rocky Mountain region, with key projects located in North Dakota and northeast Colorado.