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Whiting Petroleum Posts Loss in Q4
Wednesday, February 25, 2009 9:55 AM


(Source: Datamonitor)trackingWhiting Petroleum has reported a net loss of $3 million, or $0.07 per diluted share, for the fourth quarter of 2008, compared to a net income of $45.8 million, or $1.08 per diluted share, for the same period of 2007.

The company has reported total revenues of $223.9 million for the fourth quarter of 2008, compared to $232.4 million for the same period of 2007.

For the year ended December 31, 2008, Whiting Petroleum has reported a net income of $252.1 million, or $5.94 per diluted share, compared to $130.6 million, or $3.29 per diluted share, for the year 2007.

Whiting Petroleum has reported total revenues of $1.2 billion for the year 2008, compared to $818.7 million for the year 2007.

James Volker, chairman, president and CEO of Whiting Petroleum, said: "The fiscal 2008 was our fifth full year as a public company and our best. We grew through the acquisition of producing properties in 2004 and 2005 to increase production levels and provide upside potential through further development. We are now more focused on organic drilling activity and on the development of previously acquired properties."

A service of YellowBrix, Inc.



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