Company Quick10K Filing
Whiting Petroleum
10-Q 2020-03-31 Filed 2020-05-07
10-K 2019-12-31 Filed 2020-02-27
10-Q 2019-09-30 Filed 2019-11-06
10-Q 2019-06-30 Filed 2019-08-01
10-Q 2019-03-31 Filed 2019-05-02
10-K 2018-12-31 Filed 2019-02-28
10-Q 2018-09-30 Filed 2018-10-31
10-Q 2018-06-30 Filed 2018-08-01
10-Q 2018-03-31 Filed 2018-05-01
10-K 2017-12-31 Filed 2018-02-22
10-Q 2017-09-30 Filed 2017-10-26
10-Q 2017-06-30 Filed 2017-07-27
10-Q 2017-03-31 Filed 2017-04-27
10-K 2016-12-31 Filed 2017-02-23
10-Q 2016-09-30 Filed 2016-10-27
10-Q 2016-06-30 Filed 2016-07-28
10-Q 2016-03-31 Filed 2016-04-28
10-K 2015-12-31 Filed 2016-02-25
10-Q 2015-09-30 Filed 2015-10-29
10-Q 2015-06-30 Filed 2015-07-30
10-Q 2015-03-31 Filed 2015-04-30
10-K 2014-12-31 Filed 2015-02-27
10-Q 2014-09-30 Filed 2014-10-30
10-Q 2014-06-30 Filed 2014-07-31
10-Q 2014-03-31 Filed 2014-05-01
10-K 2013-12-31 Filed 2014-02-28
10-Q 2013-09-30 Filed 2013-10-25
10-Q 2013-06-30 Filed 2013-07-26
10-Q 2013-03-31 Filed 2013-04-26
10-K 2012-12-31 Filed 2013-02-28
10-Q 2012-09-30 Filed 2012-10-25
10-Q 2012-06-30 Filed 2012-07-27
10-Q 2012-03-31 Filed 2012-04-27
10-K 2011-12-31 Filed 2012-02-23
10-Q 2011-09-30 Filed 2011-11-03
10-Q 2011-06-30 Filed 2011-07-29
10-Q 2011-03-31 Filed 2011-04-29
10-K 2010-12-31 Filed 2011-02-24
10-Q 2010-09-30 Filed 2010-10-29
10-Q 2010-06-30 Filed 2010-07-30
10-Q 2010-03-31 Filed 2010-04-29
10-K 2009-12-31 Filed 2010-03-01
8-K 2020-04-23 Enter Agreement, Regulation FD, Exhibits
8-K 2020-04-14 Regulation FD, Exhibits
8-K 2020-03-27 Other Events, Exhibits
8-K 2020-03-26 Enter Agreement, Shareholder Rights, Amend Bylaw, Other Events, Exhibits
8-K 2020-03-26
8-K 2020-02-27 Earnings, Exhibits
8-K 2019-11-05 Earnings, Exhibits
8-K 2019-09-13 Off-BS Arrangement, Exhibits
8-K 2019-08-21 Officers
8-K 2019-07-31 Earnings, Exhibits
8-K 2019-07-15 Officers, Exhibits
8-K 2019-05-01 Shareholder Vote
8-K 2019-05-01 Earnings, Exhibits
8-K 2019-02-26 Earnings, Exhibits
8-K 2019-02-08 Officers
8-K 2018-11-15 Officers, Exhibits
8-K 2018-10-30 Earnings, Exhibits
8-K 2018-08-24 Officers, Exhibits
8-K 2018-07-31 Earnings, Exhibits
8-K 2018-05-25 Other Events, Exhibits
8-K 2018-05-01 Shareholder Vote
8-K 2018-04-30 Earnings, Exhibits
8-K 2018-04-12 Officers
8-K 2018-04-12 Off-BS Arrangement, Exhibits
8-K 2018-02-21 Earnings, Exhibits

Whiting Petroleum Financials

WLL Metrics, Comps, Filings

Quarterly | Annual

Business

We are an independent oil and gas company engaged in development, production, acquisition and exploration activities primarily in the Rocky Mountains region of the United States. We were incorporated in the state of Delaware in 2003 in connection with our initial public offering.

Since our inception, we have built a strong asset base through a combination of property acquisitions, development of proved reserves and exploration activities. Our current operations and capital programs are focused on organic drilling opportunities and on the development of previously acquired properties, specifically on projects that we believe provide the greatest potential for repeatable success and production growth, while selectively pursuing acquisitions that complement our existing core properties, such as the acquisition discussed below under “Acquisitions and Divestitures,” and exploring other basins where we can apply our existing knowledge and expertise to build production and add proved reserves. As a result of lower crude oil prices during 2016 and 2017, we significantly reduced our level of capital spending and focused our drilling activity on projects that provide the highest rate of return, while closely aligning our capital spending with cash flows generated from operations. During 2018, we continued to focus on high-return projects in our asset portfolio that added production and reserves while generating free cash flows from operations. In 2019, we expect to continue to closely align our capital spending with cash flows generated from operations while focusing on developing our large resource play in the Williston Basin of North Dakota and Montana. We continually evaluate our property portfolio and sell properties when we believe that the sales price realized will provide an above average rate of return for the property or when the property no longer matches the profile of properties we desire to own, such as the asset sales discussed below under “Acquisitions and Divestitures”.

As of December 31, 2018, our estimated proved reserves totaled 520.1 MMBOE and our 2018 average daily production was 128.0 MBOE/d, which results in an average reserve life of approximately 11.1 years.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Seadrill (SDRL) 948 0% 10,848 7,775 0 0 0 0 6,031
Talos Energy (TALO) 911 0% 2.2 14% 2,612 1,537 953 0 365 687 1,532
Berry Petroleum (BRY) 839 0% 7.3 3% 1,766 768 506 0 51 172 1,249
Geopark (GPRK) 832 0% 863 720 0 0 0 0 832
Carrizo Oil & Gas (CRZO) 827 0% 3.7 17% 3,690 2,164 1,028 0 627 695 2,580
Diamond Offshore Drilling (DO) 803 0% -8.3 -6% 5,871 2,566 937 0 -362 -308 2,569
Northern Oil & Gas (NOG) 801 39% 6.3 13% 1,902 1,388 857 330 250 309 1,944
Whiting Petroleum (WLL) 726 0% 5.7 -1% 7,775 3,605 1,192 0 -94 639 3,610
Nabors (NBR) 690 27% -11.2 -8% 7,273 4,512 3,121 846 -562 -341 3,837
Denbury Resources (DNR) 668 0% 5.9 4% 4,754 3,408 964 0 194 517 3,044
Dorchester Minerals (DMLP) 650 92% 12.5 33% 124 6 59 54 40 50 628
W&T Offshore (WTI) 632 0% 7.3 20% 1,027 1,285 526 0 203 179 1,309
Laredo Petroleum (LPI) 616 0% 5.4 2% 2,278 1,198 834 0 49 292 1,569
Nextdecade (NEXT) 597 -27.0 -13% 170 33 0 0 -22 -22 593
Bonanza Creek Energy (BCEI) 517 0% 9.1 0% 1,200 262 300 0 0 56 509
California Resources (CRC) 509 0% 11.4 2% 7,035 7,343 2,024 0 124 481 5,483
Extraction Oil & Gas (XOG) 505 0% 4.0 2% 4,429 2,384 929 0 97 523 2,083
Gran Tierra Energy (GTE) 505 0% 19.6 1% 1,960 955 443 0 12 57 1,126
Noble (NE) 494 0% -0.9 -7% 8,396 4,680 1,161 0 -565 -394 356
Gulfport Energy (GPOR) 478 40% 3.8 6% 6,273 2,714 1,481 594 382 669 2,545

Balance Sheet ($MM)2010-06-302010-09-302010-12-312011-03-312011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash1631951161610726458231,026699406227287810660381611518731623118793117141427
Accounts Receivable169182200244212231263294294345318332346362341378464454543505455354332262233216174185210225284270287316294278293294
Inventory
PP&E5,3715,6605,9866,3606,7977,2327,7277,8568,3048,8369,3549,9189,57310,47310,27210,86711,65612,42215,22615,97515,99013,96014,07314,29414,34013,85713,36513,52813,74112,93211,42811,60811,80512,13012,33012,56512,78712,894
Assets4,1734,3674,6494,9795,2875,6486,0466,2206,5116,9297,2727,6428,1189,1278,8338,9829,3599,61714,02014,45214,21411,67211,38911,18110,80610,0669,8769,3889,4058,5038,4037,5337,5627,7097,7607,7527,7767,775
Accounts Payable14553570773057941021411311081069210811714577631049012577773741324771653386887743678552
Long-Term Debt6507008009801,0601,2006211,2401,4201,6001,8002,1002,2502,9042,6542,6542,6542,7535,6295,2415,2455,2555,4505,6505,1734,4513,6313,2553,3553,0053,8052,9342,8442,8942,8442,8842,8842,884
Liabilities1,7121,9012,1172,4272,5312,6833,0163,0943,2313,5623,8194,1024,4375,2374,9975,0405,2625,3558,3167,6627,5066,8226,6306,5896,0415,4624,7274,3244,4093,7874,4843,5973,6223,6453,4893,5493,5753,605
Stockholders' Equity2,4602,4652,5312,5432,7472,9563,0213,1173,2723,3593,4463,5323,6723,8823,8293,9334,0894,2545,6956,7826,7004,8424,7514,5854,7574,5965,1415,0554,9964,7163,9193,9363,9394,0644,2704,2024,2014,170
Income Statement ($MM)2010-06-302010-09-302010-12-312011-03-312011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue378374413432540488499564502530577613664831720740836813696529590508424292340129515526567389426376
Cost of Revenue
Gross Profit
R&D
SG&A15191618212323342525-68292950-10732363772444545394534343531323032313232353330
Tax7736391311412635599050-2075273101-2347610093-191-54-77-595-48-65-110358-270-39-38-242-163-25
Net Income1255966192032066398151838286135204-59109151158-354-106-149-1,865-99-172-301-693-173-87-66-286-798152121-69-6-19
Cash Flow ($MM)2010-06-302010-09-302010-12-312011-03-312011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating280277214374276328353383383298443514491324568458466202326373150461611512378011199233310264149233139
Cash Investing-278-346-401-445-420-493-213-543-559-628-575-139-561-580-743-758-781-1,022-423-395-142-260-97216-82243-204239-177-225-315-195-227-149
Cash Financing-158517377140175-146180195294147627-256-37-510136584752-0-30199-50-364-100-380100-350-904-994935-13