Here's What Fueled Whiting Petroleum Corp.'s Double-Digit Rise Today
Shares of Whiting Petroleum (NYSE: WLL) spiked more than 11% by 3:15 p.m. EDT on Thursday. That's after the shale driller reported expectation-beating third-quarter results, thanks to robust production growth in the Niobrara shale of Colorado.
Whiting Petroleum reported an adjusted loss of $50.1 million, or $0.14 per share, in the third quarter. However, that was $0.06 per share better than analysts anticipated. The expectation-topping result came despite Whiting's closing the sale of its Fort Berthold assets in the Bakken shale of North Dakota, as well as an unplanned outage at a gas-processing plant in that region, both of which impacted production during the quarter.
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Source: Fool.com