November 5, 2019 / 9:20 PM / a month ago

Whiting Petroleum posts loss on lower crude, natgas prices

Nov 5 (Reuters) - U.S. oil producer Whiting Petroleum Corp reported a quarterly loss on Tuesday, hit by weaker crude and natural gas prices.

The company reported a net loss of $19.1 million, or 21 cents per share, in the third quarter ended Sept. 30, compared with a profit of $121.4 million, or $1.32 per share, a year earlier.

Excluding items, the company recorded a loss of $35.1 million, or 38 cents per share, compared with a profit of $84.7 million, or 92 cents per share, a year earlier.

The Denver-based company’s production fell to 11.4 million barrels of oil equivalent (boe) from 11.8 million boe. (Reporting by Arunima Kumar in Bengaluru)

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