Whiting reports outstanding Q3 results

[dan_s]

You guys pay me the Big Bucks to tell you about companies like this before the market figures it out. WLL is an outstanding value at today's share price and IMHO a Takeover Target. - Dan

Oct 23 (Reuters) - Whiting Petroleum Corp, which drills for oil and natural gas in North Dakota, Texas and other shale-rich states, said its quarterly profit more than doubled as production jumped 12 percent.

The company posted third-quarter net income of $204.1 million, or $1.71 per share, compared with $82.9 million, or 70 cents per share, in the year-ago period.

Revenue rose 57 percent to $830.96 million.

Quarterly production rose 12 percent over the same period last year to an average of 92,750 barrels of oil equivalent per day (boe/d).

[dan_s]

Read This:

http://seekingalpha.com/article/1769682 ... urce=yahoo

[dan_s]

Whiting Petroleum Corp. (WLL) reported 3rd quarter earnings and cash flows that topped my forecast by a wide margin. An updated Net Income & Cash Flow Forecast model has been posted under the Sweet 16 Tab.

My revised Fair Value Estimate for the common stock can be found at the bottom of the forecast model.

[Laurin_DE]

Dan,

I note that Whiting has roundabout U$ 1B in cash and short-term investments... did they ever say what they intent to do with that?
Thanks!

M.

[dan_s]

Drill a lot more Bakken wells and add acreage when they can.

[setliff]

what the hell is causing all the selling???

[setliff]

all the oilers are taking a hit except mtdr. strong dollar?