Energy Prospectus

EOG and WLL joined the Sweet 16 on Monday.

Whiting Petroleum Corporation Announces Fourth Quarter and Full-Year 2011 Financial and Operating Results
2011 Production: A Record 24.8 MMBOE (67,890 BOE/d)

2011 Proved Reserves: Up 13.2% to a Record 345.2 MMBOE Replaces 274% of 2011 Production

Q4 2011 Net Income Available to Common Shareholders of $62.6 Million or $0.53 per Diluted Share and Adjusted Net Income of $124.5 Million or $1.05 per Diluted Share

Q4 2011 Discretionary Cash Flow Totals a Record $328.8 Million

2012 Capital Budget of $1.6 Billion for 242 Gross (148 Net) Wells

January 2012 Production Averages over 76,000 BOE/d

Increasing Q1 and FY 2012 Production Guidance to 6.8 - 7.2 MMBOE and 28.3 - 29.7 MMBOE (+14% to 20% YoY)

Whiting Petroleum looks even better to me, now that I have seen their 4th quarter results. This one has a lot more upside than my Fair Value estimate. It they hit their own production guidance it could take off. It is also a PRIME TAKEOVER target.

Whiting Petroleum (WLL): An updated Net Income and Cash Flow Forecast model is now available under the Sweet 16 Tab. Click on the WLL logo.

My adjusted Fair Value estimate for the stock is shown at the bottom of the model.