WLL -- Analysis -- 3Q12

Link here to SeekingAlpha.com.

[The author at the link] originally invested in WLL because of their large Bakken acreage combined with their leading well production metrics. In that respect, the company is performing as expected and production is increasing nicely. However, the stock has not followed suit. Not enough of the new production revenue is falling to the bottom line as net income. This is because costs and expenses are rising right along with growing production. So let's take a look at the expense side of the company to see if we can figure out what is happening.