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Daily Market Alert for Whiting Petroleum Corp.

Publication: M2 Presswire
Publication Date: 28-FEB-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-28 February 2007-Oil and Gas News: Daily Market Alert for Whiting Petroleum Corp.(C)1994-2007 M2 COMMUNICATIONS LTD

RDATE:28022007

There's nothing fishy about what Whiting Petroleum is about. The company engages in oil and natural gas exploration and production activities, mainly in California, the Gulf Coast, Michigan, and the mid-continent, Permian Basin, and Rocky Mountains regions. It has estimated proved reserves of 263.6 million barrels of oil equivalent. Whiting Petroleum had 3,443 net productive wells in 2005. The company expanded in 2004 by acquiring stakes in 17 oil and gas fields in Texas and New Mexico for $345 million. It also bought Equity Oil for $76 million. In 2005 the company acquired oil and gas assets in Mississippi, Oklahoma, and Texas.

Shares were down 9% as fourth quarter profit falls.

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