WHITING PETROLEUM CORP WLL Income Statement

Whiting petroleum corp (WLL)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
OPERATING REVENUES
Oil, NGL and natural gas sales
244,846	380,601	375,891	426,264	389,489	473,233	566,695	526,403	515,083	-	324,191	-	-	342,695	315,554	337,036	289,697	417,952	504,155	650,527	519,848	672,553	805,054	825,760	721,250	703,024	706,543	651,868	605,114	565,066	521,195	492,756	558,697	492,025	468,573	473,865	425,683	406,327	365,239	363,028	340,694	256,074	214,303
Oil, NGL and natural gas sales
-	-	-	-	-	-	-	-	-	-	-	311,515	371,317	-	-	-	-	-	508,041	590,009	529,232	-	813,131	835,622	740,249	720,460	830,985	663,569	613,371	577,090	530,482	502,174	563,706	498,638	487,557	481,206	432,221	413,468	373,734	377,627	351,270	269,327	230,158
OPERATING EXPENSES
Lease operating expenses
72,340	72,043	85,320	86,987	84,077	81,461	74,690	75,323	80,421	11,642	90,615	86,269	90,393	5,638	87,982	105,172	114,376	120,077	125,575	143,375	166,365	139,703	124,075	118,361	114,786	116,157	109,106	105,080	99,878	98,271	93,859	89,504	94,790	82,550	77,630	73,785	71,522	70,762	69,001	67,730	60,855	58,807	57,582
Transportation, gathering, compression and other
8,963	10,293	11,176	11,128	9,841	12,655	12,842	11,137	11,471	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Production and ad valorem taxes
22,423	35,416	35,220	39,420	28,156	37,832	49,989	46,023	37,979	34,249	27,499	27,066	32,056	32,712	26,372	26,826	25,927	37,625	44,303	56,729	44,378	55,015	69,106	68,857	60,030	59,175	61,143	53,814	51,271	42,732	43,519	40,763	44,611	38,778	34,510	34,258	31,644	26,539	26,193	26,050	25,098	18,792	14,914
Depreciation, depletion and amortization
183,968	204,322	211,025	203,009	198,132	197,110	197,006	199,294	187,919	275,651	212,846	220,035	240,407	270,705	284,569	304,016	312,292	321,216	316,147	322,411	283,519	300,113	285,658	268,509	235,265	247,381	219,530	223,446	201,159	188,428	179,587	160,589	156,120	127,335	122,890	110,250	107,728	104,061	97,704	94,583	97,549	101,273	100,315
Exploration and impairment
3,753,457	10,693	10,890	13,406	19,749	25,816	12,479	13,787	15,286	872,384	17,657	25,295	20,841	35,903	24,293	25,781	35,491	52,511	1,690,679	57,557	80,924	750,886	29,925	31,512	42,107	325,445	47,092	43,393	37,280	87,610	23,882	27,902	27,578	23,318	18,918	20,171	22,237	21,456	10,500	14,509	12,906	12,422	9,792
Goodwill impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	869,713	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and administrative
47,167	35,172	29,890	32,573	34,974	28,268	31,901	31,601	31,480	31,644	30,084	31,943	30,617	34,651	33,908	33,523	44,796	38,828	44,821	44,987	43,980	72,252	37,070	35,555	32,334	29,528	50,368	29,213	28,885	23,962	25,034	25,209	34,368	22,515	23,144	20,913	18,413	16,178	19,480	15,402	13,634	11,314	10,282
Change in Production Participation Plan liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,636	3,636	-8,312	-10,798	7,723	4,407	7,625	6,217	-953	935	-3,925	853	2,650	-443	2,541	3,858	4,747	945	-678	3,284
Derivative (gain) loss, net
231,371	-46,338	30,597	24,877	-62,905	160,040	-21,063	-103,483	-52,664	-75,566	-30,867	20,163	-36,577	-27,845	30,432	2,761	-4,761	102,757	207,783	-102,419	9,851	127,407	23,783	-26,076	-24,535	17,532	-24,269	30,192	-31,257	-	-6,421	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on sale of properties
864	-283	-595	-1,063	-23	-233	-230	1,090	-2,576	-63	-398,752	-1,024	-1,274	9,162	-189,934	-1,861	-1,934	1,146	-359	-64,776	3,198	15,352	-50	1,796	10,559	-	116,274	3,387	-	-	99	-362	-	-	13,505	1,227	-	-	-	1,918	-	1,101	4,608
Gain (loss) on hedging activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	759	1,127	-	-	-	-	-	-	-	-	-	-
Amortization of deferred gain on sale
2,037	2,106	2,266	2,326	2,371	2,655	2,870	2,925	2,904	3,206	3,175	3,240	3,342	3,459	3,490	3,772	3,849	3,511	3,666	3,738	5,836	7,588	7,689	7,473	7,744	8,057	7,750	7,954	7,976	8,177	8,636	8,892	3,753	3,482	3,518	3,570	3,367	4,000	3,854	4,022	3,737	4,222	4,274
Loss on hedging activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-645	-665	-437	-211	-68,682	398	100,025	-29,403	-109,314	138,892	113,618	-134,438	-53,716	-31,765	63,496	14,923	10,391	-160,532
Total operating expenses
3,854,046	412,454	351,253	360,383	435,486	220,680	397,330	476,633	416,892	1,388,567	805,145	368,229	448,823	473,678	613,136	490,646	535,728	261,981	2,968,006	816,699	689,161	1,011,590	561,683	584,279	554,837	799,611	525,698	455,598	475,607	447,033	397,253	260,894	406,261	400,435	155,183	163,688	399,997	308,428	279,315	175,157	211,756	207,186	375,394
LOSS FROM OPERATIONS
-3,609,200	-31,853	24,638	65,881	-45,997	252,553	169,365	49,770	98,191	-914,155	-480,954	-56,714	-77,506	-130,983	-297,582	-153,610	-246,031	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
OTHER INCOME (EXPENSE)
Interest expense
45,250	45,773	48,447	48,728	48,099	47,916	48,328	48,331	52,899	47,447	47,693	47,937	48,011	312,475	84,578	78,660	81,907	86,141	84,551	89,176	74,257	49,821	39,632	39,045	42,144	43,357	24,988	23,121	21,470	20,115	18,734	17,905	18,456	16,649	16,130	15,279	14,458	13,175	14,579	15,632	15,692	15,647	18,693
Gain on extinguishment of debt
25,883	-	4,598	-	-	0	0	-808	-31,160	0	0	0	-1,540	0	46,541	-179,396	90,619	-12,727	0	-45	-5,589	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,235	-	-	-	-
Interest income and other (expense)
-4	500	144	642	316	698	363	1,489	880	346	-83	443	610	146	115	636	395	907	579	520	350	602	438	593	696	1,037	1,083	797	492	107	154	129	129	117	90	153	108	114	258	134	106	156	125
Gain on hedging activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,871	2,391	3,063	3,557	4,383	8,525	6,733	7,774	6,848
Total other expense
-19,371	-42,041	-43,705	-48,086	-47,783	-47,218	-47,965	-47,650	-83,179	-47,101	-47,776	-47,494	-48,941	-312,329	-37,922	-257,420	9,107	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
LOSS BEFORE INCOME TAXES
-3,628,571	-73,894	-19,067	17,795	-93,780	205,335	121,400	2,120	15,012	-961,256	-528,730	-104,208	-126,447	-443,312	-335,504	-411,030	-236,924	-146,911	-2,459,965	-226,690	-159,929	-544,288	251,448	251,343	185,412	-79,151	305,287	207,971	137,764	130,057	133,229	241,280	157,445	98,203	332,374	317,518	32,224	105,040	94,419	202,470	139,514	62,141	-145,236
INCOME TAX BENEFIT
Current
3,746	-	-	-	-	-	-	-	-	-924	-3,161	-1,316	-1,890	-7,305	113	-1	3	0	-422	-84	149	-5,070	-660	7,355	1,000	-4,145	7,220	-2,511	422	-1,345	-1,859	1,109	1,426	-737	975	1,565	2,050	-1,489	-170	5,308	1,330	-507	-
Deferred
-3,746	73,593	0	23,482	-24,855	-	-	-	-	-162,054	-239,137	-36,911	-37,586	-262,742	357,438	-109,983	-65,169	-48,184	-594,425	-77,311	-53,950	-185,525	94,147	92,562	75,361	-15,730	93,976	75,538	51,098	49,713	51,975	89,320	57,573	36,110	125,164	112,804	10,760	40,336	36,057	71,845	51,573	26,793	-52,073
Total income tax benefit
0	-	-	-	-24,855	-	-	-	0	-162,978	-242,298	-38,227	-39,476	-270,047	357,551	-109,984	-65,166	-48,184	-594,847	-77,395	-53,801	-190,595	93,487	99,917	76,361	-19,875	101,196	73,027	51,520	48,368	50,116	90,429	58,999	35,373	126,139	114,369	12,810	38,847	35,887	77,153	52,903	26,286	-52,073
NET LOSS
-3,628,571	-147,487	-19,067	-5,687	-68,925	203,962	121,400	2,120	15,012	-798,278	-286,432	-65,981	-86,971	-173,265	-693,055	-301,046	-171,758	-98,727	-1,865,118	-149,295	-106,128	-353,693	157,961	151,426	109,051	-59,276	204,091	134,944	86,244	81,689	83,113	150,851	98,446	62,830	206,235	203,149	19,414	-	-	-	-	-	-
Net loss attributable to noncontrolling interests
-	-	-	-	-	-	-	-	-	0	0	0	-14	-4	-3	-5	-10	-38	-10	-21	-17	-12	-14	-18	-18	-11	-10	-12	-19	-14	-21	-31	-24	-	-	-	-	-	-	-	-	-	-
NET INCOME (LOSS) AVAILABLE TO SHAREHOLDERS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-59,265	204,101	134,956	86,263	81,703	83,134	150,882	98,470	62,889	206,235	203,149	19,414	66,193	58,532	125,317	86,611	35,855	-93,163
Preferred stock dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,076	-269	-269	1,885	-269	-270	-269	-269	-269	-269	-270	-268	-52,920	-5,391	-5,391	-4,911	-
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS
-	-	-	-	-	-	-	-	-	-798,278	-286,432	-65,981	-86,957	-173,261	-693,052	-301,041	-171,748	-98,689	-1,865,108	-149,274	-106,111	-353,681	157,975	151,444	109,069	-59,265	204,101	134,687	85,994	81,434	82,865	150,612	98,201	62,620	205,966	202,880	19,144	65,925	5,612	119,926	81,220	30,944	-93,163
INCOME (LOSS) PER COMMON SHARE
Basic (in dollars per share)
-39.70	-1.61	-0.21	-0.06	-0.76	2.25	1.33	0.02	0.17	-8.80	-3.16	-0.73	-0.96	-16.63	-2.47	-1.33	-0.84	-34.91	-9.14	-0.73	-0.63	-2.99	1.33	1.27	0.92	-0.50	1.72	1.14	0.73	0.69	0.70	1.28	0.84	0.54	1.75	1.73	0.16	0.53	0.06	1.18	0.80	0.59	-1.83
Diluted (in dollars per share)
-39.70	-1.61	-0.21	-0.06	-0.76	2.23	1.32	0.02	0.16	-8.80	-3.16	-0.73	-0.96	-16.63	-2.47	-1.33	-0.84	-34.91	-9.14	-0.73	-0.63	-2.96	1.32	1.26	0.91	-0.51	1.71	1.14	0.72	0.68	0.70	1.27	0.83	0.53	1.74	1.71	0.16	0.70	0.06	1.06	0.73	0.59	-1.83
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic (in shares)
91,390	91,320	91,299	91,286	91,235	91,013	90,967	90,940	90,892	90,698	90,698	90,684	90,652	-458,956	280,418	226,039	204,367	-381,791	204,143	204,130	168,990	131,637	119,024	118,968	118,923	118,668	118,654	117,930	117,788	117,634	117,631	117,622	117,517	117,383	117,381	117,373	117,243	117,245	104,296	101,989	101,822	50,845	50,842
Diluted (in shares)
91,390	91,320	91,299	91,286	91,235	92,474	91,823	91,869	91,310	90,698	90,698	90,684	90,652	-458,956	280,418	226,039	204,367	-381,791	204,143	204,130	168,990	130,052	120,066	120,027	119,931	120,681	119,507	118,901	119,263	119,439	118,924	118,853	118,896	119,640	118,539	118,659	117,834	89,722	104,907	118,449	118,306	51,174	50,842