$61.30 0.33 (+0.54%)
11/6/2009 4:05 PM

Whiting Petroleum Corp (WLL)

CAPS Rating: 4 out of 5

An oil and gas company engaged in acquisition, development, exploitation, production and exploration activities primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast and Michigan regions of the United States.

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Member Avatar dexion10 (29.44) Submitted: 9/17/2008 5:00:40 PM : Outperform Start Price: $71.52 WLL Score: -20.31

WLL checks out - still 78% oil. proved reserves are now 250M barrels.

I think it is a good value vs. peers and longer term if you believe in peak oil you'll see that WLL owns great assets in the U.S. that will appreciate in value with no risk of nationalization.

3P is 493M barrels.

Assuming finding costs of $28.90 (2007)

*** Valuation
PV-10 NAV (of gross profits) on proven reserves only (assuming $90 BOE) is 5.4B vs Enterprise Value of 4.7B at $83.

In 2007 WLL had finding costs of $28.90.

WLL is a low cost producer of nat gas and oil - it will survive the cycle better than others.

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