Whiting is up 10% this morning and I just bought a chunk at 37.55. This is the first purchase I have made in energy since last September.
Bloomberg and WSJ are both reporting that it is up for sale. The price is right, trading at under $10 per barrel on a P1 basis. There are deepwater projects that have recently been approved on a $20 per estimated recoverable barrel basis. Statoil and Exxon are logical buyers since they have plenty of firepower and are already heavily involved in the Bakken. PE is also a possibility since there has been lots of fundraising activity recently.
Bloomberg and WSJ are both reporting that it is up for sale. The price is right, trading at under $10 per barrel on a P1 basis. There are deepwater projects that have recently been approved on a $20 per estimated recoverable barrel basis. Statoil and Exxon are logical buyers since they have plenty of firepower and are already heavily involved in the Bakken. PE is also a possibility since there has been lots of fundraising activity recently.
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