Whiting Petroleum profit jumps 12 percent

July 30 Wed Jul 30, 2014 4:12pm EDT

July 30 (Reuters) - Whiting Petroleum Corp, which produces oil in North Dakota and Colorado, said on Wednesday its quarterly profit rose 12 percent as production rose across the company's portfolio.

The company posted net income of $151.4 million, or $1.26 per share in the fiscal second quarter, compared with $134.7 million, or $1.14 per share, in the year-ago period.

Production jumped 18 percent to 109,760 barrels of oil equivalent per day (boe/d).

Whiting agreed earlier this month to buy smaller rival Kodiak Oil & Gas Inc for $3.8 billion in stock, a deal that will make it the largest oil producer in North Dakota's prolific Bakken shale formation. (Reporting by Ernest Scheyder; Editing by Lisa Shumaker)

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