What the hell are these guys doing besides collecting fat pay checks and royalty payments? Why is this firm still independent? Please dont tell me the Bakken hype story.....if that was true, Whiting wouldnt be down 12% since November nor would major E&Ps fail to make an offer. Just wait until the Fed tapering goes into high gear and Iran/Iraq start pumping tons of oil.
ya, they have plans to announce the results of new finds at next earnings conference. Because of the bad weather, I would rather them not make any announcements right now and then have great margins at earnings from new lower cost techniques and more finds. I have come to these conclusions from the rhetoric in there last conference call.
By my calculations, Whiting had new Bakken wells in January with an initial 30 day flow totaling ~19k barrels per day.....even if the decline rate was huge, why would this not be reported??? Has the company crossed the 100k BOE per day run rate? Is Moodys/S&P going to review/rate Whiting debt as "A" level investment grade? What is the update on Whiting's wells in Michigan's Antrim shale? What are the results from drilling in the Smackover? Why are the results from drilling other wells in Redtail? Why is the company not spinning off it's gas processing facilities at Robinson/Belfield to shareholders? Management at Whiting needs to get its act together....they have an extremely laid back mentality and investors are paying the price.