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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 797 |
Essay's paper body
After a very active 2004, when it doubled its reserves with seven acquisitions, Whiting doubled its reserves again with its recent acquisition of Celero's Permian Basin properties. At $1.09 per thousand cubic feet, Whiting paid an attractive price for Celero's reserves. Even though the firm estimates that it will have to invest an additional $534 million over the next five years to develop the properties, we still believe Whiting should recoup its investment within a reasonable amount of time...
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At $1.09 per thousand cubic feet, Whiting paid an attractive price for Celero's reserves. Even though the firm estimates that it will have to invest an additional $534 million over the next five years to develop the properties, we still believe Whiting should recoup its investment within a reasonable amount of time...
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