Market Overview

Whiting Petroleum Cuts Production Forecast

Whiting Petroleum Corp (NYSE: WLL) lowered its production projections for the fourth quarter and full year.

Whiting Petroleum projects Q4 production of 6.5 million barrels of oil equivalent, versus its earlier forecast of 6.85 MMboe to 7.25 MMboe.

For the year, Whiting expects 24.78 MMboe, versus its previous forecast of 25.15 to 25.55 MMboe. Whiting Petroleum expects 2012 production to rise to 28 MMboe to 29.5 MMboe, including 6.6 MMboe to 6.8 MMboe in the first quarter.

Whiting Petroleum is likely to report Q4r results on February 23.

Whiting Petroleum shares dropped 2.43% to $49.49 in after-hours trading.

Posted-In: Production ForecastNews Guidance

 

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