They need fewer rigs. Two reasons, first they are operating in the very best locations and getting better results on each well. 2nd they are heavily into pad drilling with high multiple wells per drilling unit.
They have entered the manufacturing phase of production now
Pumpkinhead. A flat out line of BS. Whiting looking to sell gas plants. the TRUTH shall set you free
From Jan 7 Reuters article
"In the short term, U.S. oil production is set to continue rising because there is still a backlog of wells waiting for fracturing crews and completion after the record drilling during the first ten months of 2014.
In North Dakota, for example, there were around 650 wells waiting on completion services at the end of October 2014 because drillers had outpaced completion crews, according to the state's Department of Mineral Resources.
As these wells are completed, there will be a significant increase in reported output because newly completed wells yield extremely high rates of production in the first few days and months after starting to flow.
But as the backlog is cleared, production will plateau and then start to fall, as new drilling and completions fails to keep up with the declining output from older wells."
This could be a good fit for Caliber, particularly considering the already close relationship between Whiting and triangle.
A whiting purchase of Triangle coupled with a spin off of Caliber and Rockpile could be very sweet. Whiting could make it much sweeter providing long term service contracts to Rockpile and Caliber as part of the spin off
A 35% drop off the recent peak. The inventory of drilled wells waiting completion must be seriously ratcheting down. When that inventory is gone the production numbers will take hit
Info on the Whiting Belfield gas plant for 2012. Belfield is East of Dickerson
Whiting Petroleum Corporation (NYSE: WLL) today announced that its subsidiary, Whiting Oil and Gas Corporation, sold to Bitter Creek Pipelines, LLC, a subsidiary of MDU Resources Group Inc., a 50% ownership interest in Whiting’s Belfield gas processing plant, gas gathering, oil gathering and related facilities located in Stark County, North Dakota.
The facilities include a newly constructed, state-of-the-industry natural gas processing plant and a natural gas gathering pipeline system connected to the plant. A natural gas residue line that ties into the Williston Basin Interstate Pipeline Company system (an MDU Resources subsidiary) is also included, along with a crude oil gathering system, a crude oil storage terminal and a crude oil pipeline that connects the terminal to the Bridger Pipeline. Whiting will continue to operate the facilities.
The Belfield natural gas processing plant has an inlet processing capacity of 35 million cubic feet per day. The oil terminal is currently under construction, with completion expected in the third quarter of 2012. It will have a storage capacity of 20,000 barrels of oil.
Superman, we have shared the same stocks over the last few years. to put it simple huge risk, huge reward. Educate yourself and you can mitigate the risk.
I am underwater here right now but I believe this baby will be a BIG winner. Do some research and Madalena actually has some very strong non share assets and production in Argentina it is those assets that will be exploited first to build cash flow
King Obummer hosts the Muslim brotherhood at the White House on a very regular basis. Just don't look for that info in the main stream press
First off all of the refineries being struck are up and running with operations being handled by management.
Second any cut back in oil being process by the refineries would be very bad news for the E & Ps. It would just add to the USA glut.
No way around this. It is bad news for US oil producers and not so hot for the rest of the world either.
Simply shows the ignorance of those writing the news and these are the people that influence the masses. Sad state that.