In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Whiting Petroleum Corp (NYSE:WLL) reported that Senator Investment Group has picked up 21,500,000 of common stock as of 2017-03-06.
The acquisition brings the aggregate amount owned by Senator Investment Group to a total of 21,500,000 representing a 5.93% stake in the company.
For those not familiar with the company, Whiting Petroleum Corporation is an independent oil and gas company. The Company is engaged in development, production, acquisition and exploration activities primarily in the Rocky Mountains and Permian Basin regions of the United States. The Company operates in the segment of exploration and production of crude oil, natural gas liquid (NGLs) and natural gas. The Company’s estimated proved reserves totaled approximately 820.6 Million Barrels of Oil Equivalent (MMBOE). The Company has interests in approximately 5,889 gross (3,177 net) productive wells on approximately 948,600 gross (593,900 net) developed acres across all its geographical areas. The Company’s Rocky Mountains operations include assets in the states of Colorado, Montana and North Dakota. The Company’s Permian Basin operations include its North Ward Estes field in the Ward and Winkler counties of Texas. Its other operations primarily relate to non-core assets in Colorado, Mississippi, North Dakota, Texas and Wyoming.
A glance at Whiting Petroleum Corp (NYSE:WLL)’s key stats reveals a current market capitalization of 3.88 billion based on 362.70 Million shares outstanding and a price at last close of $10.70 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-05-03, Volker picked up 10,000 at a purchase price of $10.30. This brings their total holding to 629,514 as of the date of the filing.
On the sell side, the most recent transaction saw Peterson unload 4,928 shares at a sale price of $19.67. This brings their total holding to 658,882.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Whiting Petroleum Corp (NYSE:WLL) as things move forward to see if its progress aligns with these transactions.
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