February 27, 2020 / 1:45 PM / a month ago

Whiting Petroleum posts quarterly loss as costs surge

Feb 27 (Reuters) - U.S. oil producer Whiting Petroleum Corp posted a quarterly loss on Thursday, hit by an 87% jump in costs and a drop in natural gas prices.

The company’s net loss was $147.5 million, or $1.62 per share, in the fourth quarter ended Dec. 31, compared with a profit of $204 million, or $2.22 per share, a year earlier.

The Denver-based company’s production fell to 11.31 million barrels of oil equivalent from 11.96 million boe. (Reporting by Nishara Karuvalli Pathikkal in Bengaluru; Editing by Anil D’Silva)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below