Whiting Petroleum Corporation Oil & Gas Exploration and Production Operations and Cost Analysis – Q4, 2011 by GlobalData

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									           Whiting Petroleum Corporation Oil & Gas Exploration and Production
                         Operations and Cost Analysis – Q4, 2011
        Reference Code: GDGE27799OAR                                                                                     Publication Date: APR 2012

        Company Snapshot                                                               Company Overview
        Key Information                                                                Whiting Petroleum Corporation (Whiting) is an independent oil
                                                                                       and gas company. Whiting engages in the acquisitions,
         Whiting Petroleum Corporation, Key Facts                                      exploitation and exploration of crude oil, natural gas and
          Web Address                           www.whiting.com                        natural gas liquids (NGLs). The company's operations are
          Financial year-end                    December                               focused in the regions of Permian Basin, Rocky Mountains,
          Number of Employees                   692                                    Mid-Continent, Gulf Coast and Michigan regions of the of the
                                                                                       US. Whiting's major projects are located in Bakken and Three
          NYSE                                  WLL
                                                                                       Forks plays in North Dakota and enhanced oil recovery fields
          Source: GlobalData                                                           in Oklahoma and Texas.


         Key Ratios
           Whiting Petroleum Corporation, Key Ratios                                      Whiting Petroleum Corporation, Reserves and
           P/E                                                             13.24          Production, 2007-2011
           EV/EBITDA                                                        6.30
           Return on Equity (%)                                            16.30
           Debt/Equity                                                     45.70
           Operating       profit   margin                                 41.10
           (%)
           Dividend Yield                                                    0.0
           Note: Above ratios are based on share price as of 11-Apr-2012
                                                                                          Source: GlobalData
           Source: GlobalData



           Whiting Petroleum Corporation, Share Price                                    Whiting Petroleum Corporation, Key Valuation
           Performance, USD/Share, Q4, 2010-Q4, 2011                                     Metrics, EV/Production ($/boed), EV/Proved Reserve
                                                                                         ($/boe), Q4, 2010-Q4, 2011




           Source: GlobalData
                                                                                         Source: GlobalData



           Whiting Petroleum Corporation, Key Costs Per boe,                             Whiting Petroleum Corporation, Costs Incurred By
                              $/boe, 2011                                                Type, $m, 2007-2011
          Parameter                                                         2011
          Oil & Gas Finding Cost per boe,                                   12.20
          Annual
         Source: GlobalData




                                                                                         Source: GlobalData


Whiting Petroleum Corporation Operations & Cost Analysis                                                                    Reference Code: GDGE27799OAR
For Data Definitions Refer to the Appendix
Source: www.energyetrack.com                                                                                                                           Page 1
© GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form
       Table of Contents
       Table of Contents ............................................................................................................................................................................... 2
          List of Tables .................................................................................................................................................................................. 4
          List of Figures ................................................................................................................................................................................. 5
       Whiting Petroleum Corporation, Valuation and Financial Data ........................................................................................................... 8
          Whiting Petroleum Corporation, Share Price Performance ............................................................................................................. 8
             Share Price Performance, Q4, 2010-Q4, 2011 ........................................................................................................................... 8
          Whiting Petroleum Corporation, Key Valuation Metrics .................................................................................................................. 9
             Key Valuation Metrics, Q4, 2010-Q4, 2011 ................................................................................................................................. 9
          Whiting Petroleum Corporation, Quarterly Results of Oil & Gas Operations Per boe Produced ................................................... 10
             Results of Oil & Gas Operations Per boe Produced, Q4, 2010-Q4, 2011 ................................................................................. 10
             Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2010-Q4, 2011........................................................................... 11
          Whiting Petroleum Corporation, Quarterly E&P Costs Trends ...................................................................................................... 12
             Upstream Capital Expenditure, Q4, 2010-Q4, 2011 .................................................................................................................. 12
       Whiting Petroleum Corporation, Quarterly Production Trends.......................................................................................................... 13
          Whiting Petroleum Corporation, Total Oil and Gas Production ..................................................................................................... 13
             Total Crude Oil and Natural Gas Production Trend, Q4, 2010-Q4, 2011 .................................................................................. 13
             Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2010-Q4, 2011 ................................................................ 14
          Whiting Petroleum Corporation, Crude Oil Production.................................................................................................................. 15
             Total Crude Oil Production Trend, Q4, 2010-Q4, 2011 ............................................................................................................. 15
             Crude Oil Production, By Country/Region, Q4, 2010-Q4, 2011 ................................................................................................ 16
          Whiting Petroleum Corporation, Natural Gas Production .............................................................................................................. 17
             Total Natural Gas Production Trend, Q4, 2010-Q4, 2011 ......................................................................................................... 17
             Natural Gas Production, By Country/Region, Q4, 2010-Q4, 2011 ............................................................................................ 18
       Whiting Petroleum Corporation, Valuation and Financial Data, 2007-2011...................................................................................... 19
          Whiting Petroleum Corporation, Share Price Performance, 2007-2011........................................................................................ 19
             Share Price Performance, 2007-2011 ....................................................................................................................................... 19
             Key Valuation Metrics, 2007-2011 ............................................................................................................................................ 20
       Whiting Petroleum Corporation, Production and Reserves Trends .................................................................................................. 21
          Total Oil and Gas, Reserves and Production ................................................................................................................................ 21
             Total Crude Oil and Natural Gas Production and Reserves Trend, 2007-2011......................................................................... 21
             Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2007-2011........................................................ 23
             Total Crude Oil and Natural Gas Reserve Changes, 2007-2011 .............................................................................................. 25
          Crude Oil/Liquids Production and Reserve ................................................................................................................................... 26
             Crude Oil/Liquids Production and Reserve Trend, 2007-2011 .................................................................................................. 26
             Crude Oil Production and Reserves By Country/Region, 2007-2011 ........................................................................................ 27
             Crude Oil/Liquids Reserve Changes, 2007-2011 ...................................................................................................................... 29
          Natural Gas Production and Reserve ........................................................................................................................................... 30
             Natural Gas Production and Reserve Trend, 2007-2011 .......................................................................................................... 30
             Natural Gas Production and Reserves, By Country/Region, 2007-2011 ................................................................................... 31
             Natural Gas Reserve Changes, 2007-2011 .............................................................................................................................. 33
          Total Crude Oil and Natural Gas Reserves Life Index .................................................................................................................. 34
             Total Crude Oil and Natural Gas Reserves Life Index, 2007-2011 ........................................................................................... 34
             Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2007-2011 ........................................................... 35
       Whiting Petroleum Corporation, E&P Costs Trends ......................................................................................................................... 37
          Allocation of the Upstream Capital Expenditure............................................................................................................................ 37
             Upstream Capital Expenditure, 2007-2011 ............................................................................................................................... 37

Whiting Petroleum Corporation Operations & Cost Analysis                                                                                                              Reference Code: GDGE27799OAR
For Data Definitions Refer to the Appendix
Source: www.energyetrack.com                                                                                                                                                                                    Page 2
© GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form
             Acquisition Costs By Country/Region, 2007-2011..................................................................................................................... 38
             Exploration and Development Costs, By Country/Region, 2007-2011 ...................................................................................... 40
          Oil and Gas Cost Per boe, $/boe .................................................................................................................................................. 42
             Oil and Gas Cost Per boe, $/boe, 2007-2011 ........................................................................................................................... 42
             Oil and Gas Cost Per boe, $/boe, By Country/Region, 2007-2011 ........................................................................................... 44
       Whiting Petroleum Corporation, Reserve Replacement Ratio .......................................................................................................... 47
          Oil and Gas Production Replacement Ratio ................................................................................................................................. 47
             Oil and Gas Production Replacement Ratio, 2007-2011 ........................................................................................................... 47
             Oil and Gas Production Replacement Ratio, By Country/Region, 2007-2011 ........................................................................... 49
       Whiting Petroleum Corporation, Results of Oil & Gas Operations Trend ......................................................................................... 53
          Oil and Gas Revenue and Expenses ............................................................................................................................................ 53
             Oil and Gas Revenue and Expenses, 2007-2011 ..................................................................................................................... 53
             Oil and Gas Revenue and Expenses, By Country/Region, 2007-2011 ..................................................................................... 55
          Oil and Gas Revenue and Expenses, Per boe ............................................................................................................................. 60
             Oil and Gas Revenue and Expenses, By boe, 2007-2011 ........................................................................................................ 60
             Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2007-2011 ........................................................................ 61
          Oil and Gas Performance Metrics ................................................................................................................................................. 65
       Whiting Petroleum Corporation, Land Holdings and Well Data ........................................................................................................ 66
          Developed and Undeveloped Acreage ..................................................................................
								
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