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2 Denver oil companies see revenue drop, losses widen in Q1

Greg Avery
2 Denver oil companies see revenue drop, losses widen in Q1

Oil and gas companies are reporting some rough financial results thanks to low oil prices in early 2019. Extraction Oil & Gas Inc. (Nasdaq: XOG) and Whiting Petroleum Corp. (NYSE: WLL) reported first-quarter revenue declines due to lower oil prices and slower production growth to start the year. The Denver-based independent oil companies each said their oil well production in the Denver-Julesburg Basin of northeast Colorado declined due to shutting wells during March blizzards.