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Investing

Whiting Petroleum Lowers Fourth Quarter, 2011 Production Forecasts (WLL)

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By Paul Ausick Published
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Oil & gas exploration and production company Whiting Petroleum Corp. has lowered its fourth-quarter and full fiscal year 2011 production estimates and provided guidance for first-quarter and full-year 2012 production.

The company now plans to produce 6.5 million barrels of oil equivalent in the fourth quarter of 2011 and 24.78 million barrels for the full year. The reduction is due to a shortage of service rigs in Whiting’s Sanish field in the Northern Rocky Mountains.

For the first quarter of 2012, the company expects to produce 6.6-6.8 million barrels of oil equivalent and for the full year Whiting plans production of 28-29.5 million barrels. Daily production in 2012 is estimated at 76,700-80,500 barrels.

Shares are trading down nearly -6% at $47.74 in a 52-week range of $28.87-$75.91.

Contact [email protected] for any questions or corrections.

Disclaimer: Energy Exploration Technologies, Inc. ("EnergyX") has engaged 24/7 Wall St to publish this communication in connection with EnergyX's ongoing Regulation A offering. 24/7 Wall St has been paid in cash and may receive additional compensation. 24/7 Wall St and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX's offering materials. EnergyX's Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.

Comparisons to other companies are for informational purposes only and should not imply similar results. Past performance is not indicative of future results. Market shortfall are forward‑looking estimates and are subject to substantial uncertainty. Investments in private placements, and start-up investments in particular, are long-term, illiquid, speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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