Albany, NY -- (SBWIRE) -- 05/13/2014 -- Summary
Whiting Petroleum Corporation (Whiting) is independent oil and gas company engaged in exploration, development and production activities in the US, including the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast and Michigan regions. The company focuses on asset acquisitions, the development of its existing assets and exploration of new discoveries in order to develop its crude oil and natural gas portfolio.The company had a reserve base of around 304.9 MMboe during 2010 and a reserve life of around 12.9 years. The companys reserves portfolio largely consists of crude oil, with around 83% of the total proved reserve base. Whitings reserves are largely concentrated in its core operational area of the Permian Basin and Rocky Mountains, which together holds around 80% of the companys total reserve base, as of 2010. The companys daily production averaged around 64.6 Mboe/d during 2010.
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- Key Highlights: This section provides detailed analysis on the companys overall oil and gas value chain, new projects, growth opportunities, new ventures, assets performance, hedging strategies, Capex funding, geographical results of oil and gas operations.
- Goals and Strategies: This section provides the upcoming goals and strategies of the company. The section mainly goals and strategies followed by the company in order to meet its upcoming goals.
- SWOT: The reports SWOT section provides the internal strength, weakness, opportunities and threats of company to reflect its strategic positions in the market.
- Key Events for 2011: This section provides the companys expected operational and financial activities in 2011. This section maps the companys focus for 2011 in nut shell.
- Production and Development Overview: This section highlights the companys crude oil and natural gas production forecast from its legacy and upcoming assets by region and commodity mix for next five years. The report also covers the detailed information and analysis on the companys producing and development assets.
- Exploration: This section includes detailed explanation and analysis on the companys exploration assets resulted due to new discoveries, new drilling and other activities.
- M&A trends: This section mainly provides information and analysis on the companys recent assets transactions, joint ventures, acquisition, and divestment activities during the last one year. This section highlights the companys status as a buyer or seller during the analyzed period.
- Financial Forecast and Valuation: This section highlights the detailed financial statement forecast for next five years. With the financial statement forecast, this section also provides intrinsic value of the company by using Net Asset Valuation method.
- Peer Group Analysis: This section compares the companys performance with its peer group on the basis of share prices, financial ratios, operational and financial parameters and other related parameters.
- Financial and Operational Metrics: This section covers the companys historical performance on several financial and operational parameters such as Production and Reserves, Reserves Replacement, Costs Incurred, Acreage, Wells, F&D Costs, Oil and Gas Revenue and Expenses etc.
Reasons to buy
- The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to -
- Provide detailed analysis to those who are interested in knowing the companies existing and future business strategies.
- Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
- Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
- Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
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1 Table of Contents
1 Table of Contents 3
1.1 List of Tables 5
1.2 List of Figures 7
2 Whiting Petroleum Corporation, Company Overview 10
3 Whiting Petroleum Corporation, Investment Summary 13
3.1 Whiting Petroleums Bakken and Three Forks Exposure To Strengthen Its Long Term Growth Plans 13
3.1.1 The Sanish Field and Lewis & Clark Prospect to Remain in Focus; Testing Time for the Parshall Field 13
3.1.2 EOR Projects Will Map Whitings Organic Growth Plans 14
3.2 Sufficient Liquidity and Credit Available to Fuel the Companys Future Capital Plans 16
4 Whiting Petroleum Corporation, SWOT Analysis 18
4.1 Strengths 18
4.1.1 Expertise in Implementing Secondary Recovery Techniques 18
4.1.2 Maintaining an Oil-Centric Reserve Base 18
4.2 Weaknesses 18
4.2.1 Geographic Less Diversified to Mitigate the Associated Risks 18
4.3 Opportunities 18
4.3.1 Increasing Focus on Bakken Formation and Lewis & Clark Prospects 18
4.3.2 Large Drilling Inventory Will Provide Substantial Upside to the Companys Production Value 18
4.4 Threats 19
4.4.1 Failure to Meet Capex Requirements Could Derail Whitings Development Plans 19
5 Whiting Petroleum Corporation, Goals and Strategies 20
5.1 Organic Reserve Additions Through the Development of Existing Assets 20
5.2 Exploiting and Developing a Large Inventory Base 21
5.3 Increasing the Reserve Base Through Acquisitions 21
5.4 Maintaining a Strong Financial Position 21
6 Whiting Petroleum Corporation, Production 23
6.1 Production Overview 23
6.2 Relying on the Sanish Fields and Lewis & Clark Prospects for Production Growth 24
6.3 Focusing on Production from its North Ward Estes and Postle Fields 25
6.4 Gas Presence Through the Flat Rock 27
6.5 Total Costs Inclined Towards Development Due To Increasing Focus on Development of Legacy Assets 28
6.6 Key Upstream Projects Update 29
7 Whiting Petroleum Corporation, Capital Expenditure 30
7.1 Costs Incurred 31
8 Whiting Petroleum Corporation, Acreage 33
9 Whiting Petroleum Corporation, Exploration and Development 35
9.1 Exploration and Development Profile 35
9.2 Increasing Drilling Activities in the Lewis & Clark Prospect 35
9.3 Increasing Development Activities in the Bakken Shale 36
9.4 Focusing on Development ActivitiesiIn its EOR Projects to Sustain its Production 37
9.5 Increasing Focus on Drillbit Reserve Additions; Declining Associated Costs 37
10 Whiting Petroleum Corporation, M&A Activity 39
11 Whiting Petroleum Corporation, Forecast Production and Financial Statements 41
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11.1 Income Statement (20082015) 43
11.2 Balance Sheet (20082015) 44
11.3 Cash Flow Statement (20082015) 45
11.4 Financial Ratios 46
12 Whiting Petroleum Corporation, Valuations 49
13 Whiting Petroleum Corporation, Peer Comparison 52
13.1 Share Price Performance 52
13.2 Operational and Financial Performance 53
13.3 Key Financial and Operational Ratios 56
13.4 Valuation Ratios 57
14 Whiting Petroleum Corporation, Detailed Operational and Financial Metrics 58
14.1 Whiting Petroleum Corporation, Total Oil and Gas Production 58
14.1.1 Total Crude Oil and Natural Gas Production Trend, Q3, 2010-Q3, 2011 58
14.1.2 Total Crude Oil & Natural Gas Production, By Country/Region, Q3, 2010-Q3, 2011 59
14.2 Whiting Petroleum Corporation, Crude Oil Production 60
14.2.1 Total Crude Oil Production Trend, Q3, 2010-Q3, 2011 60
Office: United States
90 State Street, Suite 700
Albany, NY 12207
Toll Free: 866-997-4948