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Energy

Whiting Petroleum posts quarterly loss as costs surge

Feb 27 (Reuters) - U.S. oil producer Whiting Petroleum Corp posted a quarterly loss on Thursday, hit by an 87% jump in costs and a drop in natural gas prices.

The company’s net loss was $147.5 million, or $1.62 per share, in the fourth quarter ended Dec. 31, compared with a profit of $204 million, or $2.22 per share, a year earlier.

The Denver-based company’s production fell to 11.31 million barrels of oil equivalent from 11.96 million boe. (Reporting by Nishara Karuvalli Pathikkal in Bengaluru; Editing by Anil D’Silva)

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