Whiting Petroleum (WLL+10.8%) sports one of today's strongest showings among oil and gas stocks, soaring ~10% after posting a smaller than expected Q3 loss, due in part to higher crude oil prices.
WLL says Q3 production fell 5% Y/Y to 114K bbl/day, largely due to the temporary shutdown of a contractor’s natural gas processing plant; North Dakota’s oil regulator requires reduced or suspended production if natural gas flaring limits do not meet targets.
WLL reports the average sales price for its crude during the quarter rose 12% to $41.03/bbl.
The company says it still expects to spend $950M this year, maintaining previous guidance.
STO Price at posting:
$4.36 Sentiment: Buy Disclosure: Held