Whiting Petroleum Corp (NYSE:WLL)
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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As the fuel prices keep going up they have us were we can live with out it it like air to breathe we need fuel to live and move around to make it in todays times.
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An oil and gas company engaged in acquisition development and production and exploration activities
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Whiting Petroleum Corporation engages in the acquisition, development, exploitation, production, and exploration of oil and gas primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast, and Michigan regions of the United States.
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gas, oil, what more need i say
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Its all about OIL
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WHiting owns proven reserves that have been pumped out by old technology. They use new "WAG" CO2 injection technology to remove some of the 70% of oil that was left behind. Their properties are 10% in the USA (no political risk). They are "oily" at 70% oil vs 30% gas. They have 42% of 2008 production hedged at $78/bbl (0% of gas is hedged). Every quarter they start another injection field and their oild production keeps going upward accordingly. They have 20+ years of production to work on, plus they also tend to add to proven reserves faster than they can pump it up. THis is a great little E&P company, and the stock price shows it.
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Based on a market cap to reserve ration, oil reserves are priced at just $6/barrel. It also might have a huge find in the Utah Hinge.
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A Value Proposition
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It's gotta come back, i hope!
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Based on my own P/E based screen
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