Whiting Petroleum
Whiting Petroleum
WLL reported rock solid Q1 results that were slightly above my forecast model. I will be updating my forecast model tomorrow. This stock is grossly undervalued by the market. Not sure what it will take the share price to move higher but the fundamentals are rock solid. I will have more comments on Friday.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Whiting Petroleum
Record Production of 89,135 BOE/d in Q1 2013 Up 4% Over 86,055 BOE/d in Q4 2012
Q1 2013 Net Income Available to Common Shareholders of $86.0 Million or $0.72 per Diluted Share and Adjusted Net Income of $111.6 Million or $0.94 per Diluted Share
Q1 2013 Discretionary Cash Flow Totals a Record $401.1 Million
Niobrara Well in DJ Basin Completed Flowing 861 BOE/d
My updated forecast and adjusted Fair Value Estimate will be posted to the website this afternoon under the Sweet 16 Tab. - Dan
Q1 2013 Net Income Available to Common Shareholders of $86.0 Million or $0.72 per Diluted Share and Adjusted Net Income of $111.6 Million or $0.94 per Diluted Share
Q1 2013 Discretionary Cash Flow Totals a Record $401.1 Million
Niobrara Well in DJ Basin Completed Flowing 861 BOE/d
My updated forecast and adjusted Fair Value Estimate will be posted to the website this afternoon under the Sweet 16 Tab. - Dan
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Whiting Petroleum
poor report, dan. they didn't promise to triple production.
of all the sweet 16 i believe only gpor is showing true equity growth.
oh, xec, even though it has pulled back, is showing growth.
lets see, i believe there is a trend here. anything in the bakken sucks. don't understand it at all.
of all the sweet 16 i believe only gpor is showing true equity growth.
oh, xec, even though it has pulled back, is showing growth.
lets see, i believe there is a trend here. anything in the bakken sucks. don't understand it at all.
Re: Whiting Petroleum
Whiting Petroleum (WLL): An updated Net Income & Cash Flow Forecast model has been posted under the Sweet 16 Tab. Our adjusted Fair Value Estimate is shown at the bottom of the forecast.
Whiting is now stepping up the drilling in the Niobrara, which should add another core area of significant growth potential. The company is off to a great start and well on their way to the top end of their production guidance for 2013.
IMO, First Call's price target of $61.06/share is extremely conservative. A mid-cap of this quality, with several years of double digit production growth looked in, should be trading at a much higher multiple. I also believe Whiting is a Prime Takeover Target. IMO their acreage in North Dakota is now worth more than the entire market cap of the company.
With a strong balance sheet and solid cash flow from operations, they have more than enough liquidity to carry out their aggressive development drilling program.
Whiting is now stepping up the drilling in the Niobrara, which should add another core area of significant growth potential. The company is off to a great start and well on their way to the top end of their production guidance for 2013.
IMO, First Call's price target of $61.06/share is extremely conservative. A mid-cap of this quality, with several years of double digit production growth looked in, should be trading at a much higher multiple. I also believe Whiting is a Prime Takeover Target. IMO their acreage in North Dakota is now worth more than the entire market cap of the company.
With a strong balance sheet and solid cash flow from operations, they have more than enough liquidity to carry out their aggressive development drilling program.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group