Whiting Petroleum (WLL) Misses Q2 EPS by 3c, Revenues Beat

Whiting Petroleum (NYSE: WLL) reported Q2 EPS of $0.62, $0.03 worse than the analyst estimate of $0.65. Revenue for the quarter came in at $526.4 million versus the consensus estimate of $509.08 million.

Bradley J. Holly, Whiting’s President, Chairman and CEO, commented, “In the second quarter, Whiting continued its streak of delivering production results above forecast and generating significant cash flow above capital expenditures. Since the beginning of the fourth quarter 2017, Whiting has generated a total of $269 million of operating cash flow above capital expenditures. We are also pleased to announce a bolt-on acquisition that fits well with our current core acreage position in the western Williston Basin. We consider this acreage highly prospective for generation 4.0 completions because it lies geologically on trend with the prolific Mallow well announced in the first quarter. This acquisition demonstrates our commitment to the Williston Basin and builds on our strategy to unlock value in new areas through the application of an industry leading development process.”

For earnings history and earnings-related data on Whiting Petroleum (WLL) click here.

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