Whiting: 3Q Earnings Snapshot
DENVER (AP) _ Whiting Petroleum Corp. (WLL) on Tuesday reported a third-quarter loss of $19.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Denver-based company said it had a loss of 21 cents. Losses, adjusted for one-time gains and costs, were 38 cents per share.
The results did not meet Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The oil and gas company posted revenue of $375.9 million in the period, which also did not meet Street forecasts. Ten analysts surveyed by Zacks expected $409.7 million.
Whiting shares have declined 67% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.48, a fall of 79% in the last 12 months.