By midmorning, shares had added 5.6% to $66.38.
In the three months to December, the Denver-based oiler recorded revenue of $720.46 million, a 25% year-over-year increase and $36.3 million higher than analysts surveyed by Thomson Reuters had forecast.
Net income of 88 cents a share was in line with consensus.
The company also said it expects a capital budget of $2.7 billion over 2014 which management expects will yield year-over-year production growth of 17% to 19%.
TheStreet Ratings team rates WHITING PETROLEUM CORP as a Buy with a ratings score of B. The team has this to say about their recommendation:
"We rate WHITING PETROLEUM CORP (WLL) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, expanding profit margins, good cash flow from operations and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
- You can view the full analysis from the report here: WLL Ratings Report