Friday, July 26, 2013

Some Random Notes From Whiting's 2Q13 Financial Presentation

2Q13 Financial Presentation (some numbers rounded)

Slide 12: Lease expenses/bbl
  • 2007: $14.50
  • 2008: $13.81
  • 2009: $11.71
  • 2010: $11.06
  • 2011: $12.56
  • 2012: $12.57
  • 1Q13: $12.71
  • 2Q13: $12.14
This is for all of WLL's acreage, not just the Bakken.

Slide 15: Collars
  • Q3: $48 - $91
  • Oct: $48 - $91
  • Nov: $48 - $86
  • Dec: $80 - $122 (for a small volume, at this point)
  • 1/14: $80 - $122 (for a small volume, at this point)
  • 2/14: $80 - $122 (for a small volume, at this point)
  • 3/14: $80 - $122 (for a small volume, at this point)
Slide 16: Natural gas contracts for 2014: $5.50/MMBtu

Slide 19: Net cash provided by operations, three months ended June 30 --
  • 2012: $282 million
  • 2013: $442 million (57% increase)
Slide 12: EBITDA/Realized price (some numbers rounded; percents taken from the slide)
  • 2007: $31/$54 (58%)
  • 2008: $45/$69 (65%)
  • 2009: $26/$45 (57%)
  • 2010: $42/$61 (68%)
  • 2011: $51/$74 (68%)
  • 2012: $46/$70 (66%)
  • 1/13: $50/$75 (67%)
  • 2/13: $51/$76 (67%)
Maybe a comment on this later. I'm passing my thoughts on to someone else to take a look at before I make a (bigger) fool of myself.

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