Whiting Petroleum Corp. (WLL) Wednesday reported first-quarter net income to common shares of $86 million or $0.72 per share, compared to $98 million or $0.83 per share last year.
Excluding items, adjusted earnings for the quarter were $111.6 million or $0.94 per share, compared to $122.6 million or $1.03 per share a year ago.
The Denver-based oil and gas company reported quarterly revenues of $613 million, compared to $563.7 million a year ago.
Analysts polled by Thomson Reuters estimated earnings of $0.89 per share on revenues of $589.70 million for the quarter. Analysts' estimates typically exclude special items.
Production in the quarter totaled 8.022 million barrels of oil equivalent, or MMBOE, of which 87 percent were crude oil/natural gas liquids (NGLs). This equates to a daily average production rate of 89,135 barrels of oil equivalent, or BOE, representing a 10 percent increase over last year.
Results were offset by operating expenses that escalated to $475.6 million from $406 million a year ago, due to increased production taxes, depreciation, and exploration & impairment charges.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.