Whiting Petroleum Corp.’s (NYSE: WLL) production in the third quarter of 2012 totaled 7.60 MMBOE, of which 86% were crude oil/natural gas liquids (NGLs). This third quarter 2012 production total equates to a daily average production rate of 82,615 BOE, representing a 17% increase over the third quarter 2011 average daily rate of 70,675 BOE/d.
Production in the first nine months of 2012 totaled 22.29 MMBOE or 81,360 BOE/d. This represents a 22% increase over total production of 18.28 MMBOE or 66,950 BOE/d in the first nine months of 2011.
Effective Oct. 19, 2012, Whiting Oil and Gas entered into an amendment to its existing credit agreement that increased the company’s borrowing base under the facility from $1.5 billion to $2.5 billion.
Whiting’s net production from the Sanish field averaged 31,400 BOE/d in the third quarter of 2012. Whiting is generating excellent results from its recent Three Forks drilling operations as it moves into development mode in the central and western portions of the Sanish field. The company expects its development plans at Sanish to extend at least through 2014.
Recommended Reading
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
CEO: Magnolia Hunting Giddings Bolt-ons that ‘Pack a Punch’ in ‘24
2024-02-16 - Magnolia Oil & Gas plans to boost production volumes in the single digits this year, with the majority of the growth coming from the Giddings Field.
Endeavor Integration Brings Capital Efficiency, Durability to Diamondback
2024-02-22 - The combined Diamondback-Endeavor deal is expected to realize $3 billion in synergies and have 12 years of sub-$40/bbl breakeven inventory.
Exxon, Chevron Tapping Permian for Output Growth in ‘24
2024-02-02 - Exxon Mobil and Chevron plan to tap West Texas and New Mexico for oil and gas production growth in 2024, the U.S. majors reported in their latest earnings.
Patterson-UTI Braces for Activity ‘Pause’ After E&P Consolidations
2024-02-19 - Patterson-UTI saw net income rebound from 2022 and CEO Andy Hendricks says the company is well positioned following a wave of E&P consolidations that may slow activity.