We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Whiting (WLL) to Purchase Assets in North Dakota for $273M
Read MoreHide Full Article
Headquartered in Denver, CO, the hydrocarbon exploration company Whiting Petroleum announced that it signed two definitive agreements to buy non-operated oil and gas assets in the Williston Basin of North Dakota from two anonymous private firms.
The transaction value of this acquisition is $273 million, entirely in cash, before taking into account closing adjustments.
Situated in Mountrail County, ND, the assets, which are being taken over, comprise 14,563 net acres, 4 gross / 0.2 net drilled and uncompleted wells and 277 gross / 32 net undrilled sites. The addition of these properties will boost the average operated working interest through the Sanish field of Whiting Petroleum from 61% to 74%. Furthermore, 4,500 barrels of oil equivalent per day (BOE/d) (67% oil) will be added to the output as a consequence of the acquisition.
Of the two agreements, the smaller deal was completed in the fourth quarter of 2021, whereas the bigger one is scheduled for closing before Mar 31, 2022.
Whiting Petroleum also unveiled its operational plans for 2022. The company released guidance for the production of 91,000-95,000 BOE/d in 2022 and oil output of 52,000-55,000 barrels per day. WLL’s full-year lease operating expense is expected in the range of $275-$300 million. Whiting Petroleum anticipates capital spending in the range of around $360-$400 million this year and declared its first dividend of 25 cents per share.
Founded in 1980, Whiting Petroleum Corporation is an independent energy company engaged in the exploration, development and production of crude oil and natural gas properties in the United States. With the majority of its output coming from the Bakken play, it holds one of the largest acreage positions in the region.
Whiting Petroleum currently sports a Zacks Rank #1 (Strong Buy). Apart from Whiting, investors interested in the energy exploration and production space might look at the following companies. Denbury , APA Corporation (APA - Free Report) and Civitas Resources (CIVI - Free Report) each sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Denbury’s 2022 earnings is projected at $6.47 per share, up about 154.7% from the projected year-ago earnings of $2.54.
Denbury stock has gone up 84.4% in a year. DEN beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being 28.6%.
APA Corporation is valued at around $12 billion. The Zacks Consensus Estimate for APA Corporation’s 2022 earnings per share has been revised 27.2% upward over the past 60 days from $5.19 to $6.60.
The Zacks Consensus Estimate for APA’s 2022 earnings is projected at $6.60 per share, which is an increase of a massive 64.3% from the projected year-ago earnings of $4.02.
Civitas stock has rallied 110.2% in a year. The Zacks Consensus Estimate for Civitas’ 2022 earnings is projected at $13.53 per share, up about 117.3% from the projected year-ago earnings of $6.23.
CIVI beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, the average being around 95.2%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Whiting (WLL) to Purchase Assets in North Dakota for $273M
Headquartered in Denver, CO, the hydrocarbon exploration company Whiting Petroleum announced that it signed two definitive agreements to buy non-operated oil and gas assets in the Williston Basin of North Dakota from two anonymous private firms.
The transaction value of this acquisition is $273 million, entirely in cash, before taking into account closing adjustments.
Situated in Mountrail County, ND, the assets, which are being taken over, comprise 14,563 net acres, 4 gross / 0.2 net drilled and uncompleted wells and 277 gross / 32 net undrilled sites. The addition of these properties will boost the average operated working interest through the Sanish field of Whiting Petroleum from 61% to 74%. Furthermore, 4,500 barrels of oil equivalent per day (BOE/d) (67% oil) will be added to the output as a consequence of the acquisition.
Of the two agreements, the smaller deal was completed in the fourth quarter of 2021, whereas the bigger one is scheduled for closing before Mar 31, 2022.
Whiting Petroleum also unveiled its operational plans for 2022. The company released guidance for the production of 91,000-95,000 BOE/d in 2022 and oil output of 52,000-55,000 barrels per day. WLL’s full-year lease operating expense is expected in the range of $275-$300 million. Whiting Petroleum anticipates capital spending in the range of around $360-$400 million this year and declared its first dividend of 25 cents per share.
Founded in 1980, Whiting Petroleum Corporation is an independent energy company engaged in the exploration, development and production of crude oil and natural gas properties in the United States. With the majority of its output coming from the Bakken play, it holds one of the largest acreage positions in the region.
Whiting Petroleum currently sports a Zacks Rank #1 (Strong Buy). Apart from Whiting, investors interested in the energy exploration and production space might look at the following companies. Denbury , APA Corporation (APA - Free Report) and Civitas Resources (CIVI - Free Report) each sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Denbury’s 2022 earnings is projected at $6.47 per share, up about 154.7% from the projected year-ago earnings of $2.54.
Denbury stock has gone up 84.4% in a year. DEN beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being 28.6%.
APA Corporation is valued at around $12 billion. The Zacks Consensus Estimate for APA Corporation’s 2022 earnings per share has been revised 27.2% upward over the past 60 days from $5.19 to $6.60.
The Zacks Consensus Estimate for APA’s 2022 earnings is projected at $6.60 per share, which is an increase of a massive 64.3% from the projected year-ago earnings of $4.02.
Civitas stock has rallied 110.2% in a year. The Zacks Consensus Estimate for Civitas’ 2022 earnings is projected at $13.53 per share, up about 117.3% from the projected year-ago earnings of $6.23.
CIVI beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, the average being around 95.2%.