Whiting Petroleum: Improved Oil Prices Offset The Impact Of Weak Prices For NGLs [Seeking Alpha]
Whiting Petroleum Corporation (New) (WLL)
Last whiting petroleum corporation (new) earnings: 2/27 08:30 am
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Source: Seeking Alpha
Whiting Petroleum: Improved Oil Prices Offset The Impact Of Weak Prices For NGLs Summary Whiting missed expectations in Q1 2019 largely due to weak realised prices for NGLs. It may average around $14 per barrel for its NGLs in 2019 compared to over $22 in Q4 2018. This should improve as the Elk Creek Pipeline comes online in late 2019. The improvement in oil prices over the last couple months more than offsets the impact of the weak prices for NGLs. Whiting is projected to deliver $281 million in positive cash flow at current strip prices. Whiting Petroleum's ( WLL Notes On Production Whiting's Q1 2019 production level was roughly consistent with what it mentioned before. In its Q4 2018 conference call Q1 2019 Redtail production decreased -16% from Q4 2018, which was probably around 3% more than expected. This higher decline was attributed to wellhead freeze-offs due to severe winter weather. While total production was around expectations, Whiting's oil percentage dipped to 65% as it
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