Whiting Petroleum

[par_putt]

Market Chatter: Whiting Petroleum Reportedly Tried to Sell Itself - Share Slip 1% 11/29 01:58 PM

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02:58 PM EST, 11/29/2012 (MidnightTrader) -- Whiting Petroleum Corp. (WLL:$41.56,00$-0.72,00-1.70%) shares are trading down 1% to $41.86 after the trading halt was lifted.

Earlier, shares were halted after hitting a volatility circuit breaker. The halt preceded a report by The Wall Street Journal claiming that the company explored selling itself earlier this year but decided not to proceed after buyers balked over the oil producer's asking price.

Shares have traded in a day's range of $40.85 - $46.62, and in a 52-week range of $35.68 - $63.97.

Price: 41.86, Change: -0.42, Percent Change: -0.99

http://www.midnighttrader.com

[dan_s]

See our profile and forecast model. WLL is a very cheap stock. At our luncheon today I was told that Exxon and Statoil are interested. These companies like to have board approval from the target before they proceed.

[bearcatbob]

IMO a buyout of WLL before the queen of regulation has her say on fraccing would be plain and simple dumb. I see no action on this front until sometime next year.

Bob

[dan_s]

Bob;
The states nor the Feds are going to ban fracing. Unless they want to doom the U.S. economy.

I do agree that there will be no M&A activity until we see how Washington deals with the Fiscal Cliff.

I did hear yesterday that any changes in the partnership area that would impact the MLPs is now off the table.