Mother of Uber CEO killed in boating accident -newspaper
May 27 The mother of ride-hailing firm Uber's chief executive has died in a boating accident near Fresno, California on Friday, the Fresno Bee reported on Saturday.
By Ernest Scheyder
Oct 23 Whiting Petroleum Corp, which drills for oil and natural gas in North Dakota, Texas and other shale-rich states, said its quarterly profit more than doubled as production jumped 12 percent.
The company posted third-quarter net income of $204.1 million, or $1.71 per share, compared with $82.9 million, or 70 cents per share, in the year-ago period.
Excluding a non-cash $15.7 million loss on crude oil and natural gas derivatives and other one-time items, Whiting posted profit of $1.28 per share.
By that measure, analysts had forecast earnings of $1.09 per share, according to Thomson Reuters I/B/E/S.
Revenue rose 57 percent in the quarter to $830.99 million, above analysts' expectations of $684.4 million in revenue.
Average quarterly production rose 12 percent over the same period last year to 92,750 barrels of oil equivalent per day (boe/d).
Whiting sold its stake in two Oklahoma oilfields, along with some pipelines, to BreitBurn Energy Partners LP in June for $859.8 million. Whiting sold the land to focus more on its Texas and Colorado projects and to cull debt. The company's debt load sat at $2.65 billion as of Sept. 30, a 47 percent increase over the year-ago period.
Denver-based Whiting bought a stake in 39,310 gross North Dakota and Montana acres in August for $260 million, boosting average daily production by roughly 2,420 boe/d.
Shares of Whiting rose 0.6 percent to $63.63 in after-hours trading. The stock has gained 46 percent so far this year.
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May 27 General Motors Co said on Saturday that proxy advisory firm Institutional Shareholder Services has recommended that shareholders vote against a slate of directors proposed by hedge fund Greenlight Capital and reject the hedge fund's plan to divide GM shares into two classes.