Energy Prospectus

Whiting leads the pack in Bakken & Three Forks output
Also gaining momentum at prospects in Wolfcamp & Niobrara
Transitioning to development mode in its western Williston basin assets, Whiting Petroleum plans a 412,000 boepd expansion for the balance of 2012 that should bring total takeaway capacity from the region to over 1.0 MMbopd by year’s end. Whiting added over 20,000 net acres in the Williston basin since year-end 2011 for a total leasehold of 701,751 net acres, most targeting multiple reservoirs. The company is targeting the Pronghorn sand and Upper Three Forks on its Lewis & Clark and Pronghorn lease areas in western North Dakota (the company states it can tap these zones with a single wellbore). In Hidden Bench, Tarpon, Missouri Breaks and Starbuck areas (latter two across the border in Montana), Whiting has dual completions targeting the Middle Bakken and Upper Three Forks.
Whiting continues to outpace other Bakken/Three Forks operators in terms of cumulative six-month production, which at 89,000 boe per well is 4,000 boe higher than runner-up Brigham Exploration.

I hope to finish updating our company profile on Whiting Petroleum today. Wanted to pass on that there has been a significant improvement in the price being paid for Bakken oil just in the last couple weeks. Q2 realized oil prices should be higher for our Bakken companies, despite the recent dip in WTI.

2012 CFPS for WLL should be near $13/share. Year-over-year production growth now looking like 24%.

Whiting Petroleum (NYSE:WLL) added $200 million to its capital budget, and will spend $1.8 billion in 2012. The company will use $36 million of the extra funds for drilling into the Niobrara at the Redtail Prospect in the Denver Julesburg Basin, and $37 million for increased development in the Permian Basin. The balance of the funds will be used for leasehold acquisitions and the company's share of non-operated drilling costs.

WLL has a very strong inventory of drill ready projects that are heavily weighted to oil.

BTW this is very good news for the Drillers and other oilfield service firms:
http://www.investopedia.com/stock-analy ... z1v3B4puqz

Sweet 16 Growth Portfolio: An updated company profile for Whiting Petroleum Corp. (WLL) has been posted under the Sweet 16. The update includes our revised Fair Value price for the stock.

Whiting is not just another Bakken company (although it is the 2nd highest oil producer in North Dakota). I believe what they have going in the Permian Basin may be a "Home Run" for this Sweet 16 member.