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looking for .95 to 1.05 divvy Im already loaded hope to sell at 14.00 n higher
I think that there is a very attractive return.
well if it stays at 13.00 and pays a 1.00 divvy times 4 = 4.00 as long as oil stays over 100.00 that would make it a 31% divvy just thinking next Q.
Whiting USA Trust II began trading ex-dividend on August 15, 2013.
A cash dividend payment of $0.739362 per share is scheduled to be paid on August 29, 2013.
Shareholders who purchased WHZ stock prior to the ex-dividend date are eligible for the cash dividend payment.
This represents an 17.01% increase over the prior quarter. At the current stock price of $13.83, the dividend yield is 21.38%.
with oil over 103 ave last 2 mth divvy will go to 1.00 stock should go to 20.00 if it sticks with 20% divy
Both WHX and WHZ are nearly identical vehicles and truly differ only in their trust expiration dates, price of their stock, and percentage of the dividends they currently pay.
Both equities are set up as oil and gas royalty trusts and are both REITs. Both pay large dividends from their profits in production of oil and gas.
And both have an expiration date after which their stock price will be worthless, literally $0, with one final payment and all remaining assets will fall back to the parent company, Whiting.
The first thing to realize about these assets is that they are NOT like other equities which have the possibility of growing with unlimited upside over unlimited time.
Having an expiration date gives them a very finite range of price which SHOULD (but is generally not) be based on the amount of future dividends which are left to be paid as those are truly the only value of these equities.
But of course, as with any equity, the P/E or price of the stock versus its earnings can get inflated from traders betting on volatility in the share price. WHX / WHZ suffers from this malady in a big way.
One factor keeping this pattern going is that there are enough investors out there who think oil prices will skyrocket in 2014 which would have a very positive effect on the dividends paid from the trust.
If their dreams came true, we could see even more volatility in the share price...sounds good to me.
Whether or not we see a huge move in oil prices, the idea of that possibility remains and should continue to support this wild ride.
nice divvy going toget better
@bobbytx1 - I am pretty bullish here. Up 16% since my July call and looks like upside could maintain. Watching for continued bounce before adding more.
Looking good if we stay above 100.00 next divvy will be .901
$WHZ- Notes for valuation calculations. A bottom looks like it may be forming in the $12 range. Amazing how it has declined nearly 50% since its peak IPO price.
Both oil and gas production decline from Q1 2013 at 8%/year based on Q1 2013 production. Actual decline rates are tough to predict given that production has been on the increase and (perhaps) has just recently started to decline.
I used $88/bbl for realized oil price for 2013 and escalated at 3%/year. Keep in mind, WHZ has typically received $10 less than WTI. One concerning thing is the widening price differential on the oil side. Typically this was around $9-10. Last quarter, it was roughly $13.
In Q1 2013, WHZ realized $4.67/MCF. This is mainly due to the rich nature of the gas. I've got gas flat at $4.50 until the end of 2015 where I ramp it 3%/year because of expected exports of LNG. Either way, gas is not a huge component of revenue for the trust.
LOE and production taxes are held flat on a $/BOE basis from Q1 2013. The rate at which LOE has been increasing since the trust has IPO'd is something to make note of. Hopefully, the LOE spend can be tamed as I believe rising expenses is one of the reasons the trust has underperformed lately.
Capital expenditures (development costs) are tough to predict. We can only look to the filings to provide guidance. The 10-K gives us a planned capital expenditure model to go off of. Roughly $5.35MM is planned to be spent in 2013 and 2013-2021 capex is estimated to be $26.3MM. It will distribute the rest of this evenly throughout the remaining years as the majority of this is for maintenance and CO2 purchases for the flood at Rangely.
Trust expenses were held flat at $1.2MM/year. This is similar to what the trust has been actually realizing. Montana income tax was held flat based on Q1 2013 numbers. Regardless, neither of these numbers is material to the discussion.
ex date is 16 May record date is 20 May
http://www.dividend.com/dividend-stocks/basic-materials/independent-oil-and-gas/whz-whiting-usa-trust-ii/
Is ex dividend date 5/16 or 5/20? The business wire says 5/20 but the stock platform say 5/16.
only 2 cents less than last quarter, not a big drop, especially since we're talking hard winter months.
yup.. .63 ..18% yield..lets see 15+ as people realize this is not WHX
yup.. .63 ..18% yield..lets see 15+ as people realize this is not WHX
OK.shhhhhhhhh..don't forget to carry the one..lol
QUIET! Busy counting yesterday's divies, LOL.
BPT reported divi yesterday..industry looking solid..rebound coming..refiners did OK today..other trusts were green..3-4 weeks and the divi announcement cometh..
very good average. Divie will pay out and they'll swarm in, probably before I can pick up more at this discount.
That 25 one performed well today..in a crappy market..added here today 13.21..avg now 13.66..come on divis lol
LOL, just sent you one going for $25 now.
Yeah was watching the carnage on EPA news..you have any favorites that you are buying?
yes we do! Very nice portfolio. The MLPs got hit hard with the EPA mandate to reduce sulfur, then some fool declared it could cost 100's of Millions $$$$ to update, so they all dropped like rocks for a couple days.
TY..avg 14 now..also sizable in SDR..some SDT..PER..and nice free positions in ECT ..CHKR off recent plunges..bargains IMO..divi announcement due for trusts and MLPs end of April/early May..we shall see then ....I luv divis!! Lol
unbelievable how far this has dropped on rumors and the downgrades of Whiting I. Great entry price for you, GL.
Howdy ..in this one too..added 13.80 cheapies today
May people don't seem to understand the difference between WHX & WHZ. WHZ seems to be catching a crossover effect of selling fron WHX. Great for anyone that wants to buy WHZ at this level.
gone to keep buyin
See if it drops tomorrow too. Fire sale right now.
now its time to load 15.37
We continue to creep higher, expecting the distribution amount to be announced somewhere around November 8. Distribution will probably be between 4-5% for the quarter on your money. It's a no brainer at these price levels.
WHZ is looking poised to have a great few years. Trust expires in 2021 but with the price of oil expected to rise this is a great trust to sit on for 3-4 years and collect 20% on your money.
Whiting pursues Williston basin Red River play
HOUSTON, Aug. 17
08/17/2012
By OGJ editors
Whiting Petroleum Corp., Denver, said it has identified more than 50 vertical Red River prospects at its Big Island Ordovician Red River oil and gas play in Golden Valley County, ND, in the Williston basin.
The company said it has identified the prospects using 3D seismic interpretation and porosity anomalies and that the 122,109 net acre block, which extends into Wibaux County, Mont., has multiple geological objectives. The prospects average two drilling locations each.
Five vertical Red River wells drilled to date at Big Island have been completed as successful oil producers. Estimated ultimate recoveries for the wells range from 200,000 to 300,000 bbl of oil equivalent. Completion cost is estimated at $3.5 million/well.
For example, Whiting completed the Rieckhoff 44-22 flowing 480 b/d of oil equivalent on Aug. 2 and the Stecker 23-3 flowing 283 boe/d on June 30. All of the drilling has been in Golden Valley County thus far.
The company is drilling its first horizontal Red River well, the Schaal 22-15H, to determine the potential of the Red River as a resource play on the block.
WHZ Could Possibly Pay 18% +/-
Due to the fact that the first payment wasn't a complete quarter and the fact that the gas has more liquids than they projected, per the first distribution announcement, even with lower oil and gas prices this stock could still possibly pay 18% per annum at these stock prices. I did a little analysis with a lot of assumptions and it appears to me that one might possibly get at least a 10% return even if the stock was purchased at $37 per share.
This is an oil and gas trust with a defined amount of oil and gas attributable to the trust so it will act like a depleting asset even though the underlying production might not.
I do own shares in WHZ.
continuing quarterly payments at that rate for rest of year at today's price is divie yield of 16.76%
Whiting USA Trust II Announces Trust Quarterly Distribution
Mon May 7, 2012 4:30 PM AUSTIN, Texas--(BUSINESS WIRE)-- Whiting USA Trust II (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.
Volumes, average sales prices and net profits for the quarterly payment period were:
Sales Volumes:
Oil (Bbls) 301,325
Natural Gas (Mcf) 456,862
Total (BOE) 377,469
Average Sales Prices:
Oil (per Bbl) $ 93.00
Natural gas (per Mcf)(1) $ 5.29
Gross Proceeds:
Oil Sales $ 28,023,551
Natural Gas Sales 2,417,580
Total Gross Proceeds $ 30,441,131
Costs:
Lease Operating Expenses $ 7,268,925
Production Taxes 1,628,493
Development Costs 1,456,836
Total Costs $ 10,354,254
Net Profits $ 20,086,877
Percentage allocable to Trusts Net Profits Interest 90 %
Total cash available for the Trust $ 18,078,189
Provision for estimated Trust expenses (500,000 )
Montana state income taxes withheld (14,398 )
Net cash proceeds available for distribution $ 17,563,791
Trust units outstanding 18,400,000
Cash distribution per Trust unit $ 0.954554
(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.
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 quarters 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 Corporations 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.
This press release contains forward-looking statements, including all statements made in this press release other than statements of historical fact. No assurances can be given that such statements will prove to be correct. The announced distributable amount is based, in part, on the amount of cash received or expected to be received by the Trust from Whiting Petroleum Corporation pursuant to the net profits interest with respect to the relevant quarterly period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust, fluctuations in oil and natural gas prices, uncertainty of estimates of oil and natural gas reserves and production, risks inherent in operation and production and development of oil and gas properties and future production and development costs. Statements made in this press release are qualified by the cautionary statements made in this press release. The Trustee does not intend, and assumes no obligation, to update any of the statements included in this press release.
Whiting USA Trust II
The Bank of New York Mellon Trust Company, N.A., as Trustee
Mike Ulrich, 512-236-6599
Source: Whiting USA Trust II
Copyright Business Wire 2012
WHZ gained almost 25% on 1st day. IMO, that is fairly quiet for an IPO these days. WHX still going strong with a 17% dividend, and $17 price tag, not super out of line for a slowly ending trust, the biggest drop is investors moving money out of WHX to re-invest in WHZ, and continue on the cash cow for another 10 years, instead of worrying about Whiting trust I end date around 3-3.5 years from now.
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