Whiting: Update Based On Scanning Recent Easily Accessible Information -- December 3, 2019

Disclaimer: I often make typographical and/or factual errors. If this is important to you go to the source. 

Note: in a long note like this, there will be factual and typographical errors. If this is important to you, go to the source. 

Whiting: most of us are locked out of stories regarding WLL due to paywalls. Headlines help. Observations:

• Whiting is canceling permits in the Bakken; another seventeen Whiting permits were reported canceled yesterday; unlike the first seventeen canceled permits, the newest batch of canceled permits included permits in some really good locations; canceled permits tracked here;
• a report that Whiting was in a deal to buy Abraxas was a "top story" back in mid-October, 2019;  
• almost all investment articles on Whiting have one thing in common: "high debt load"
• one fairly recent article suggested takeaway capacity was really hurting Whiting; meanwhile North Dakota regulators have not yet announced decision on DAPL expansion;
• I didn't look at many, but it was surprising, one might think, that share prices for many shale oil companies rose yesterday, including Whiting -- rose almost 8%; rose 41 cents to $5.60
• corporate presentations posted here (company's website);
• Whiting has third largest position in the Bakken; third largest producer
• 471,000 net acres
• currently running four rigs, one frac crew
• looks like it is concentrating on infill development of the Sanish
• Foreman Butte moving to full-field development
• full slide devoted to "Williston Basin infrastructure outlook improving"
• again, Sanish and Foreman Butte highlighted on this slide
• full slide: "taking action to strengthen the balance sheet"
• "continue to evaluate non-core asset sales"
• full year, 2019, guidance, high end:
• lease operating expense per BOE: $7.55
• transportation, gathering, compression per BOE: $1.05
• general and administrative expense per BOE: $2.85
• interest expense per BOE: $4.40
• on those four items: $15.85
• oil price differential to NYMEX, per bbl: $7.75
• $50 - $8 = $42 

General financial guidance:

Tracked: at this site --

• note increase in acreage position in the Bakken since 2018

What next: what next to watch for --

• update on Abraxas
• asset sale
• share price relative to price of WTI

Key: most important observation from my point of view --

• remains committed to strategic plan -- CAPEX and maintaining four rigs as planned

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