Current WLL Stock Info

Whiting Petroleum (ticker: WLL) is officially the largest producer of the Bakken/Three Forks shale play, following its $6.0 billion purchase of Kodiak Oil & Gas on December 8, 2014. The transaction was first announced on July 13, 2014, and involves the $2.2 billion assumption of Kodiak net debt. Kodiak shareholders now hold approximately 29% of WLL.

Whiting arranged $3.5 billion in bank commitments to finance the transaction and has sold roughly $1.1 billion in properties since the beginning of Q3’13. Its debt to market cap ratio is curr...

Analyst Commentary

Capital One Securities (12.8.14)

The addition of Kodiak's high-quality Williston acreage to the Whiting portfolio will add high-return wells to the existing inventory.

Whiting has not yet issued any formal 2015 guidance but has said that up to 20% growth next year could be achievable for the combined company assuming $75 - $80/bbl oil pricing and CAPEX spending in the neighborhood of $3.8B. We will be interested to see if the original plan to increase rig count on the Kodiak acreage from 7 to 12 during the course of next year remains when the guidance is updated and whether those early growth and spending projections get revised downward given current oil pricing.  

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