WHZ - Whiting USA Trust II (NYSE Stock)

[BadThad]

The new trust which replaces the older WHX is alive and trading since 23MAR2012. Obviously, no dividend has been paid yet but the first one should be nearing. Once it catches on, it should be another good play on Whiting.

Whiting USA Trust II (the Trust) is a statutory trust. It will own a term net profits interest in oil and gas producing properties located in the Rocky Mountains, Permian Basin, Gulf Coast and Mid-Continent regions of the United States. These producing properties are owned by Whiting Oil and Gas Corporation, which is a subsidiary of Whiting Petroleum Corporation (Whiting). The term net profits interest (NPI) entitles the Trust to receive 90% of the net proceeds attributable to Whiting’s interest in the sale of oil and gas production from these properties. The underlying properties consist of Whiting’s net interests in certain oil and natural gas producing properties and include interests in 1,300 gross producing wells located in 49 fields located in 10 states. The business and affairs of the trust will be managed by The Bank of New York Mellon Trust Company, N.A. as trustee. Wilmington Trust, National Association will also act as Delaware trustee of the trust.

http://www.google.com/finance?q=NYSE%3AWHZ#

Current stock price: $23.35

[BadThad]

Today's News, May 1, 2012
7:55a Whiting USA Trust II Started At Mkt Perform By Raymond James >WHZ


I'm still trying to wrap my head around this stock. It's been moving up today but I don't know why. From what I understand, it will not begin paying dividends until WHX has expired....which is still at least a year away last I read. I don't see how they could afford to pay dividends to BOTH trusts. The average volume has been 265k shares/day!

Current stock price: $23.43

[Borse]

I've been following WHX for quite awhile and it seems to have a mind of its own as well!

Goes up for no logical reason and down for no logical reason (that I can think of). But it does always go up around dividend time. WTI crude will go up, but WHX down. Or the stock market in general will tank, but WHX goes up.

On the Google finance main page they have the various sectors and how they are doing. Basic Materials, Capital Goods, Conglomerates... Energy, etc. It seems WHX, WHZ, and WLL do go up down along with the Energy sector, but I just started watching this.

It is like somebody says "OK, today Energy up!" (Then everything energy related goes up.) Or "OK, today Energy down!" (Then everything energy related goes down.)

Where is this "voice"???? (SO much energy related news and data, which is it???)

Then WHZ is lacking the yield on its stock chart and perhaps because of that is lacking the runup we see with WHX?

Anyway get out your popcorn and watch the coming show! The dividend announcement should be out soon for WHX. It will be interesting to see what happens with both WHX and WHZ.

If there is no dividend for WHZ, then I would imagine it would remain pretty stable whereas WHX should go up.

But I am seeing selling when it goes up, so then it goes back down. I'm wondering if some of the big boys are moving to the new toy WHZ and that will be the new playground?

[BadThad]

LOL, yea, I have no idea other than the up/down swings caused by the dividend payouts. There doesn't seem to be much institutional interest in the stock, it's only about 3-4%, which surprizes me with the fat divy. That said, it's not a "growth stock" at all so I guess they stay away since they can't reap huge gains in the PPS.

For me, it's one of the best stocks I've ever played. At least 4x a year I play the up and down and rake in tons of cash.....I've even snagged quite a few divy payouts. It's been NOTHING BUT GREEN for me the whole way. It's pretty much guaranteed cash if you play it right.

[BadThad]

First payout!

Whiting USA Trust II Announces Trust Quarterly Distribution
4:30p ET May 7, 2012 (Business Wire) Whiting USA Trust II (NYSE: WHZ) announced the first Trust distribution in 2012, which relates to net profits generated during the first quarterly payment period of 2012.

Unitholders of record on May 20, 2012 (which results in an actual effective record date of May 18, 2012 due to the 20th of May falling on a non-trading day) will receive a distribution amounting to $17,563,791 or $0.954554 per unit, which is payable on or before May 30, 2012.

As explained in the prospectus for the initial public offering of the Trust units, the first quarterly 2012 distribution includes crude oil sales for the months of January through a portion of March 2012, and natural gas and natural gas liquids for the months of January through a portion of February 2012, due to the time lag in receiving oil, natural gas and natural gas liquids sales proceeds that causes sales for some months in a quarter to not be paid out until the next quarter's distribution. Likewise, the first quarterly distribution will not include production taxes relating to a full three months of oil, natural gas and natural gas liquids sales proceeds as well. In addition, the first quarterly 2012 distribution does not include a full three months of lease operating expenses and development costs due to the time lag in receiving and processing invoices for oil field goods and services received during the first quarter of 2012. All future quarterly distributions will generally relate to production of oil, natural gas and natural gas liquids for a three month period and will generally include three months of production taxes, lease operating expenses and development costs.

The net profits interest represents the right to receive 90% of the net proceeds from Whiting Petroleum Corporation's interests in certain existing oil and natural gas properties located primarily in the Rocky Mountains, Permian Basin, Gulf Coast and Mid-Continent regions of the United States. The net profits interest will terminate on the later to occur of (1) December 31, 2021, or (2) the time when 11.79 MMBOE have been produced from the underlying properties and sold (which amount is equivalent to 10.61 MMBOE attributable to the net profits interest), and the Trust will soon thereafter wind up its affairs and terminate, after which it will pay no further distributions.





Current stock price: $22.70

A rough calculation using this dividend puts the return at 16.8%.

[Borse]

WHZ is going down and WHX is going up! Go figure?

Energy as a whole is having an up day. WLL up as well.

[Borse]

WHZ dipped down to $18.14 this morning. Now at $18.25.

WTI Crude is down a dollar to $78.69.

The bargain hunter in me says buy, buy, buy... But I don't know if the oil biz has hit bottom quite yet?

Anyone have a good crystal ball?

[BadThad]

Thanks for rebooting this....I might just get in very soon. I've been waiting for the PPS to come down so the yield looks even better.

Current stock price: $18.24 (20.5% yield)

[Borse]

I've been poking around on this crude oil price thing and I'm hearing it might go lower even into 2013.

Also WLL was recently downgraded from a “strong-buy” rating to an “outperform".
http://www.dailypolitical.com/finance/stock-market/whiting-petroleum-rating-lowered-to-outperform-at-raymond-james-wll.htm

So I'm thinking WHZ will go a bit lower. (In one of these bad news blips.)

[BadThad]

I've been poking around on this crude oil price thing and I'm hearing it might go lower even into 2013.

Also WLL was recently downgraded from a “strong-buy” rating to an “outperform".
http://www.dailypolitical.com/finance/stock-market/whiting-petroleum-rating-lowered-to-outperform-at-raymond-james-wll.htm

So I'm thinking WHZ will go a bit lower. (In one of these bad news blips.)

Of course, it will be hard to say, lower or higher. You also have to consider your investing horizon. Are you a long termer or just looking for a short term play. I'm going to probably open a position tomorrow if this continues down, I'll start small and add if it continues to drop. The yield is just too huge to ignore!

The main drawback of this stock as it relates to the price of oil, is that the yield will likely drop as it's essentially a "profit sharing" divy. However, I suspect it will probably never fall below about 15-16%. Regardless, the divy will be around for quite a few years so a long term investor can ignore the day to day fluctuations, sit back, and collect a VERY healthy yield. That's more of what I'm into.

[BadThad]

Oh yea, down again....going to open a starting position.

Current stock price: $18.05 for a 21% YIELD!!!!!

[BadThad]

Even better! Opened position at $17.83! YAY!

[BadThad]

Should have went all in yesterday, dang, up almost a buck today.

Current stock price: $18.53

[BadThad]

I love a good bull run, but man, it has foiled my plans to accumulate more shares of this stock. At least I'm nicely green now but I really wanted more shares!

Current stock price: $19.17

[BadThad]

A little reversal today -1.88%. I'm looking for it to go back below $18 before adding again....not sure if or when that will be.

Current stock price: $18.79 (19.9% yield)

[BadThad]

Refuses to pull back to that magic $17-18 level. Lots of investors are seriously chasing yield over growth stocks right now and supporting WHZ. I WANT MORE SHARES! .....but I want them cheap. :biggrin:

Current stock price: $20.03

[BadThad]

Even with the overall market down this morning, WHZ is refusing to pull back.

Current stock price: $20.24

[BadThad]

Man, it won't give in! I need it to pull back again so I can add shares!

Current stock price: $20.60

[BadThad]

OK, now I'm getting tempted to take profit! If it weren't for the 21+% yield I'll be getting, this would be gone.

Current stock price: $21.78 (17.8% yield)

[Borse]

I've been kicking myself for not buying more when it was down, but have been buying more lately anyway.

This stock keeps going up, up, up. And it is getting near dividend time next month, so should continue to go up until then.

And with this stock, it does not matter if market up/down, oil up/down. The price keeps going up toward that dividend.

I think I found out why. It is hedged against oil prices dropping, so the dividend should remain stable no matter what crude oil prices are.

Trading at $21.55 now.

[BadThad]

Please sell all your shares to the PPS drops back to the $17-18 level for me. LOLOLOL

I'm kicking myself for not loading up the truck at $17. That's just how it goes, I usually like to start a position and then add shares gradually....yea, TDA loves me @ $10 a pop. Looks like I'll have to wait for the post-record day drop to get more.

[Borse]

Yes everybody take profits so I can buy more too.

[Borse]

Well WHZ dipped down, but not for long. You have to be quick with these sale prices before someone else snatches it up. What are these people "instant trading computers" or something?

I'm figuring this might reach $23ish before dividend next month?

Anyway the current 18% is a LOT better than I have been doing anywhere else lately.

[BadThad]

Well WHZ dipped down, but not for long. You have to be quick with these sale prices before someone else snatches it up. What are these people "instant trading computers" or something?

I'm figuring this might reach $23ish before dividend next month?

Anyway the current 18% is a LOT better than I have been doing anywhere else lately.

Well, high yield stocks are all the rage these days. All the savy investors know the best ones very well since growth stocks are not growing and the economic outlook is weak at best. About 90% of my holdings today are in dividend stocks!

DON'T MISS OUT ON WHX TODAY! It's down 20%!

[Borse]

I going to buy more WHZ myself. That will be around for quite some time.

[BadThad]

Stock has been rising the past few days. I think a lot of people are transitioning from WHX to WHZ.

Current stock price: $20.57

[BadThad]

Still moving up today.

Current stock price: $20.76

[BadThad]

Whiting USA Trust II Announces Trust Quarterly Distribution
5:57p ET August 8, 2012 (Business Wire) Whiting USA Trust II (NYSE: WHZ) announced the second Trust distribution in 2012, which relates to net profits generated during the second quarterly payment period of 2012.

Unitholders of record on August 20, 2012 will receive a distribution amounting to $16,455,602 or $0.894326 per unit, which is payable on or before August 29, 2012.

Volumes, average sales prices and net profits for the quarterly payment period were:

Sales volumes:
Oil (Bbls) 356,599
Natural gas (Mcf) 655,398
----------
Total (BOE) 465,832
Average sales prices:
Oil (per Bbl) $ 84.06
Natural gas (per Mcf)(1) $ 4.48
Gross proceeds:
Oil sales $ 29,976,437
Natural gas sales 2,936,249
----------
Total gross proceeds $ 32,912,686
- ----------
Costs:
Lease operating expenses $ 11,447,340
Production taxes 1,706,238
Development costs 1,321,279
----------
Total costs $ 14,474,857
- ----------
Net profits $ 18,437,829
Percentage allocable to Trust's Net Profits Interest 90 %
---------- -
Total cash available for the Trust $ 16,594,046
Provision for estimated Trust expenses (125,000 )
Montana state income taxes withheld (13,444 )
---------- -
Net cash proceeds available for distribution $ 16,455,602
Trust units outstanding 18,400,000
----------
Cash distribution per Trust unit $ 0.894326
= ==========



(1) The average sales price of natural gas for the gas production months within the distribution period exceeded the average NYMEX gas prices for those same months within the period due to the "liquids rich" content of a portion of the natural gas volumes produced by the underlying properties.

The net profits interest represents the right to receive 90% of the net proceeds from Whiting Petroleum Corporation's interests in certain existing oil and natural gas properties located primarily in the Rocky Mountains, Permian Basin, Gulf Coast and Mid-Continent regions of the United States. The net profits interest will terminate on the later to occur of (1) December 31, 2021, or (2) the time when 11.79 MMBOE have been produced from the underlying properties and sold (which amount is equivalent to 10.61 MMBOE attributable to the net profits interest), and the Trust will soon thereafter wind up its affairs and terminate, after which it will pay no further distributions.

As of June 30, 2012, on a cumulative accrual basis, 0.9 MMBOE (9%) of the Trust's total 10.61 MMBOE have been produced and sold. Based on the Trust's reserve report for the underlying properties as of December 31, 2011, the 11.79 MMBOE of reserves (10.61 MMBOE to the 90% net profits interest) are projected to be produced from the underlying properties by December 31, 2021, which reflects an expected year over year decline rate of approximately 8.4% between 2012 and 2021, assuming no additional development drilling or other development expenditures are made on the underlying properties after 2014. However, cash distributions to unitholders may decline at a faster rate than the rate of production due to fixed and semi-variable costs attributable to the underlying properties, or if expected future development is delayed, reduced or cancelled.

[BadThad]

Let the $$$ flow baby!

[BadThad]

Nice record day drop today if you've been watching. Today is probably a good day to buy on the dip.

Current stock price: $19.32

[BadThad]

GREAT BUY TODAY! Finally dipped below $19.

Current stock price: $18.80 (~19% yield)

I've been looking for an opportunity to add.....just did! :)

[BadThad]

Stock popped above $19 for awhile this morning but is currently just a hair below. GREAT buy at below $19 and a good yield at ~ 19%. Keep in mind, the yield calc is based on the only two payouts they've handed out thus far (may/aug).....the dividend fluctuates but it should be +/- a couple percent of 19.

[BadThad]

Whiting USA Trust II Announces Trust Quarterly Distribution
4:00p ET November 9, 2012 (Business Wire) Whiting USA Trust II (NYSE: WHZ) announced the third Trust distribution in 2012, which relates to net profits generated during the third quarterly payment period of 2012.

Unitholders of record on November 19, 2012 will receive a distribution amounting to $13,995,405 or $0.760620 per unit, which is payable on or before November 29, 2012.

[BadThad]

Add to my WHZ position today at $17.77. Looks like we'll have another 4 years of trying to find profit/income using dividends vs growth. The gov will be doing us NO FAVORS with the current administration.

[BadThad]

SMOKING HOT BUY TODAY!!!!

I just added at $15.55! :) ~ 17% yield

[BadThad]

November 20, 2012
2:03a Whiting USA Trust II Raised To Neutral From Underperform By Baird (Dow Jones)


CURRENT STOCK PRICE: $15.90

[BadThad]

Unbelievable buy at today's price! This is probably the best buy-n-hold divy stock a long-term investor can hold. The trust is good for at least 10 more years of return at ~ 20%!!! Holding for 5 years will DOUBLE your money not counting any stock appreciation.

Current stock price: $15.41

[Chris4x4gill2]

I've added this one to my watch list. Will be after the new year before I can look to add any though.

[BadThad]

Whoa....52 week low, below $15/share....time to LOAD up!

Current stock price: $14.93

[BadThad]

WHZ is my screaming hot buy at $15 or less for 2012. :)

[BadThad]

Whiting USA Trust II Announces Trust Quarterly Distribution
4:51p ET February 7, 2013 (Business Wire) Whiting USA Trust II (NYSE: WHZ) announced the first Trust distribution in 2013, which relates to net profits generated during the fourth quarterly payment period of 2012.

Unitholders of record on February 19, 2013 will receive a distribution amounting to $11,975,068 or $0.650819 per unit, which is payable on or before March 1, 2013.

Volumes, average sales prices and net profits for the quarterly payment period were:

Sales volumes:
Oil (Bbls) 340,079
Natural gas (Mcf) 596,479
----------
Total (BOE) 439,492
Average sales prices:
Oil (per Bbl) (1) $ 79.63
Natural gas (per Mcf)(2) $ 4.67
Gross proceeds:
Oil sales $ 27,081,047
Natural gas sales 2,787,575
----------
Total gross proceeds $ 29,868,622
- ----------
Costs:
Lease operating expenses(3) $ 12,164,744
Production taxes 1,540,154
Development costs 2,629,576
----------
Total costs $ 16,334,474
- ----------
Net profits $ 13,534,148
Percentage allocable to Trust's Net Profits Interest 90 %
---------- -
Total cash available for the Trust $ 12,180,733
Provision for estimated Trust expenses (200,000 )
Montana state income taxes withheld (5,665 )
---------- -
Net cash proceeds available for distribution $ 11,975,068
Trust units outstanding 18,400,000
----------
Cash distribution per Trust unit $ 0.650819
= ==========


(1) The price of crude oil realized by the Trust's underlying properties
during the last nine months of 2012 has been lower than was
anticipated at the time of the Trust's initial public offering in
March 2012.
(2) The average sales price of natural gas for the gas production months
within the distribution period exceeded the average NYMEX gas prices
for those same months within the period due to the "liquids rich"
content of a portion of the natural gas volumes produced by the
underlying properties.
(3) The Trust's underlying properties experienced increases in lease
operating expenses during 2012 related to a higher level of workover
activity, increased ad valorem taxes and increases in the cost of
oil field goods and services associated with higher demand in the
industry.



The net profits interest represents the right to receive 90% of the net proceeds from Whiting Petroleum Corporation's interests in certain existing oil and natural gas properties located primarily in the Rocky Mountains, Permian Basin, Gulf Coast and Mid-Continent regions of the United States. The net profits interest will terminate on the later to occur of (1) December 31, 2021, or (2) the time when 11.79 MMBOE have been produced from the underlying properties and sold (which amount is equivalent to 10.61 MMBOE attributable to the net profits interest), and the Trust will soon thereafter wind up its affairs and terminate, after which it will pay no further distributions.

As of December 31, 2012, on a cumulative accrual basis, 1.7 MMBOE (16%) of the Trust's total 10.61 MMBOE have been produced and sold. Based on the Trust's reserve report for the underlying properties as of December 31, 2012, the 11.79 MMBOE of reserves (10.61 MMBOE to the 90% net profits interest) are projected to be produced from the underlying properties by December 31, 2021, which reflects an expected year over year decline rate of approximately 9.0% between 2013 and 2021, assuming no additional development drilling or other development expenditures are made on the underlying properties after 2014. However, cash distributions to unitholders may decline at a faster rate than the rate of production due to fixed and semi-variable costs attributable to the underlying properties, or if expected future development is delayed, reduced or cancelled.

[BadThad]

Today's News, March 12, 2013
7:31a Whiting USA Trust II Raised to Outperform From Neutral by R.W. Baird >WHZ


Stock moving off it's bottom, great buy at $15.10!

[BadThad]

Some slipping lately with the drop in crude prices. This stock is a SCREAMING HOT buy at these levels IMO.

Current stock price: $13.89 (18.4% yield)

[Leviathan]

I couldn't resist. Picked some up at $13.78. Here's to some nice dividends this year!


Some slipping lately with the drop in crude prices. This stock is a SCREAMING HOT buy at these levels IMO.

Current stock price: $13.89 (18.4% yield)

[BadThad]

Solid buy and hold....it may drop a little more with the market but you'll be raking in 18+% dividends. I still believe yield stocks are the best way to go in this market/economy.

[Leviathan]

Yeah, my DD in this area talked about not watching the ticker on this one, given the nature of the stock.

I don't know how long I'll hold it, but, would be nice to get 18% on the year with a minimal decline in stock price. Time will tell.

Solid buy and hold....it may drop a little more with the market but you'll be raking in 18+% dividends. I still believe yield stocks are the best way to go in this market/economy.

[BadThad]

Whiting Petroleum Corporation announces first quarter 2013 earnings release date and conference call

Friday, Apr 05, 2013

Whiting Petroleum Corporation (NYSE:WLL) will release its first quarter 2013 financial and operating results on Wednesday, April 24, 2013 after the market closes. A conference call with investors, analysts and other interested parties is scheduled for 11:00 a.m. EDT (10:00 a.m. CDT, 9:00 a.m. MDT) on Thursday, April 25, 2013 to discuss Whiting's first quarter 2013 financial and operating results. Please call (866) 515-2911 (U.S./Canada) or (617) 399-5125 (International) to be connected to the call and enter the pass code 71718725. Access to a live Internet broadcast will be available at http://www.whiting.com by clicking on the “Investor Relations” box on the menu and then on the link titled "Webcasts."

A telephonic replay will be available beginning approximately two hours after the call on Thursday, April 25, 2013 and continuing through Thursday, May 2, 2013. You may access this replay at (888) 286-8010 (U.S./Canada) or (617) 801-6888 (International) and entering the pass code 52179437. You may also access a web archive at http://www.whiting.com beginning approximately one hour after the conference call.

[BadThad]

Whiting USA Trust II Announces Trust Quarterly Distribution
5:13p ET May 7, 2013 (Business Wire) Whiting USA Trust II (NYSE:WHZ) announced the second Trust distribution in 2013, which relates to net profits generated during the first quarterly payment period of 2013.

Unitholders of record on May 20, 2013 will receive a distribution amounting to $11,626,972 or $0.631901 per unit, which is payable on or before May 30, 2013.

Volumes, average sales prices and net profits for the quarterly payment period were:

Sales volumes:
Oil (Bbl) 317,211
Natural gas (Mcf) 600,939
----------
Total (BOE) 417,368
Average sales prices:
Oil (per Bbl) $ 79.40
Natural gas (per Mcf)(1) $ 4.59
Gross proceeds:
Oil sales $ 25,187,392
Natural gas sales 2,759,720
----------
Total gross proceeds $ 27,947,112
- ----------
Costs:
Lease operating expenses $ 9,822,507
Production taxes 1,434,393
Development costs 3,427,303
----------
Total costs $ 14,684,203
- ----------
Net profits $ 13,262,909
Percentage allocable to Trust's Net Profits Interest 90 %
---------- -
Total cash available for the Trust $ 11,936,618
Provision for estimated Trust expenses (300,000 )
Montana state income taxes withheld (9,646 )
---------- -
Net cash proceeds available for distribution $ 11,626,972
Trust units outstanding 18,400,000
----------
Cash distribution per Trust unit $ 0.631901
= ==========



(1) The average sales price of natural gas for the gas production months within the distribution period exceeded the average NYMEX gas prices for those same months within the period due to the "liquids rich" content of a portion of the natural gas volumes produced by the underlying properties.

The net profits interest represents the right to receive 90% of the net proceeds from Whiting Petroleum Corporation's interests in certain existing oil and natural gas properties located primarily in the Rocky Mountains, Permian Basin, Gulf Coast and Mid-Continent regions of the United States. The net profits interest will terminate on the later to occur of (1) December 31, 2021, or (2) the time when 11.79 MMBOE have been produced from the underlying properties and sold (which amount is equivalent to 10.61 MMBOE attributable to the net profits interest), and the Trust will soon thereafter wind up its affairs and terminate, after which it will pay no further distributions.

As of March 31, 2013, on a cumulative accrual basis, 2.03 MMBOE (19%) of the Trust's total 10.61 MMBOE have been produced and sold. Based on the Trust's reserve report for the underlying properties as of December 31, 2012, the 11.79 MMBOE of reserves (10.61 MMBOE to the 90% net profits interest) are projected to be produced from the underlying properties prior to December 31, 2021. Additionally, the year-end reserve report reflects an expected year over year decline rate of approximately 9.0% between 2013 and 2021. However, cash distributions to unitholders may decline at a faster rate than the rate of production due to fixed and semi-variable costs attributable to the underlying properties, or if expected future development is delayed, reduced or cancelled.