Home

Whiting Petroleum first-quarter profit jumps

By Associated Press
May 5, 2008 | Comments (0)

Recs

0

Whiting Petroleum Corp. said Monday its first-quarter profit jumped on an increase in prices and production.

The company reported income of $62.3 million, or $1.47 per share, compared with $10.7 million, or 29 cents per share, in the year-ago period.

Revenue rose 65 percent to $264.1 million from $159.9 million in the first quarter of 2007.

Analysts polled by Thomson Financial, on average, estimated earnings of $1.28 per share on sales of $240.3 million.

Results were boosted by a 64 percent increase in the company's realized oil price, a 25 percent increase in its realized gas price and a 6 percent increase in its total equivalent production. Production in the quarter totaled 3.74 million barrels of oil equivalent.

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

DocumentId: 637069, ~/articles/articlehandler.aspx, 12/2/2008 7:04:01 AM,

Sign up for FREE Motley Fool site access!

Already registered? Login Here

It’s FREE! Enter your email address, and we’ll rush you to the article you're looking for right now.

Privacy / Legal Information

We will use your email address only to keep you informed about updates to our web site and about other products and services that we think might interest you. The Motley Fool respects your privacy. Please read our Privacy Statement

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.