A taste of Santostic things to come:
Whiting Petroleum +10% as higher oil prices reduce quarterly loss
- 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.
A taste of Santostic things to come: Whiting Petroleum +10% as...
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