U.S. oil and gas production overall has risen to record levels as the energy industry has invested billions of dollars into developing shale rock fields that were once too difficult and expensive to tap.
Whiting, a MicroSeismic customer has found microseismic technology key to their success.
Denver, Colorado-based Whiting raised its full-year production forecast to 77,300 barrels of oil equivalent per day (boe/d) to 81,100 boe/d. It had earlier expected 76,500 boe/d to 80,600 boe/d.
Whiting also raised its first-quarter production forecast to 75,700 boe/d to 79,100 boe/d from 72,500 boe/d to 74,700 boe/d.
Fourth-quarter adjusted net income was $124.5 million, or $1.05 per share. Analysts on average were expecting 96 cents a share, according to Thomson Reuters I/B/E/S.
Congratulations to a great partner and here’s to our future success!