Whiting Petroleum Corp. (NYSE: WLL), the largest oil producer in North Dakota's Bakken Shale, posted a quarterly loss on Oct. 25 that was smaller than analysts had expected, due in part to higher crude prices.

The results came the day after Whiting said long-time CEO James Volker would retire and be replaced by Brad Holly, a former Anadarko Petroleum Corp. (NYSE: APC) executive.

Whiting carries a debt load that eclipses its market value and has struggled in recent years to capitalize on its position as a Bakken leader.

Analysts generally cheered Volker's replacement with Holly, who helped lead Anadarko's operations in the western United States, saying they were eager for updates on his plan for the company's operations.

Whiting posted a third-quarter net loss of $286.4 million, or 79 cents per share, compared with $693.1 million, or $2.47 per share, in the year-ago period.

Excluding one-time items, including taxes and hedging gains, Whiting lost 14 cents per share. By that measure, analysts expected a loss of 20 cents per share, according to Thomson Reuters I/B/E/S.

Production dipped 5% to 114,350 barrels per day, largely due to the temporary shutdown of a contractor's natural gas processing plant. North Dakota's oil regulator limits natural gas flaring at each well; producers must throttle back or suspend production at wells if they cannot meet the targets.

The average sales price for Whiting's crude oil rose 12% during the quarter to $41.03 per barrel.

Whiting said it still expects to spend $950 million this year, maintaining previous guidance. For 2018, the company has hedged about half of its oil production so far.

Shares of Denver-based Whiting rose 0.6% to $4.87 in after-hours trading on Oct. 25. The stock is down nearly 60% so far this year.