Whiting Petroleum’s Profit Beats On Oil Production Growth

Whiting Petroleum Corp. (NYSE: WLL) posted a profit on Oct. 30 that easily topped analysts’ third-quarter forecasts, as higher domestic oil prices and production growth boosted results.

Whiting’s third-quarter production averaged 128,680 barrels of oil equivalent per day, up 13% from a year ago. The Denver-based oil and gas company forecast its production to increase 5% sequentially in the fourth quarter, CEO Bradley Holly said in a statement.

Its shares rose more than 3% to $36.50 in after-hours trading on Oct. 30.