WHZ

WHITING USA TRUST II

NYSE

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WHZ

WHITING USA TRUST II

NYSE

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Lucid_NH

02/05/16 2:05 PM

Post #90

I wonder if when oil goes back up and whzt gets back up to over a buck, will they re-list ?

cjmeyer

01/07/16 10:28 AM

Post #89

Down to .10 in early trading

cjmeyer

01/06/16 11:12 PM

Post #88

Off to the pinksheets as WHZT

Timothy Smith Free

05/11/15 6:57 PM

Post #87

Re: #86: @Davnet01 - Did I read that distribution correctly..01? What the

Whiting USA Trust II (WHZ -8.5%) plunges after reporting Q1 distributable income of $0.327/unit from $0.651 reported in the same period last year (10-Q), and oil and natural gas revenues during Q1 fell by $9.5M (or 31%) from the prior-year quarter.

Davnet01

05/10/15 5:34 PM

Post #86

Did I read that distribution correctly..01? What the heck happened here..

bobbytx1

05/08/15 12:06 AM

Post #85

Re: #84: @bobbytx1 - I guess I have to buy more but

Hope it goes up so I can get out n short it

bobbytx1

05/08/15 12:05 AM

Post #84

Re: #83: @PICKALITTLE - I'd say this drops to 2.50 to 3.50 range.

I guess I have to buy more but next divvy is going to s u ck 2

PICKALITTLE Free

05/07/15 6:36 PM

Post #83

Re: #82: @bobbytx1 - .012 WTF I'm screwed

I'd say this drops to 2.50 to 3.50 range.

bobbytx1

05/07/15 4:39 PM

Post #82

Re: #81: @PICKALITTLE - I've read anywhere between zero and .15 cent.

.012 WTF I'm screwed

PICKALITTLE Free

05/04/15 11:44 AM

Post #81

Re: #79: @Davnet01 - Does anyone have any ideal what the projected

I've read anywhere between zero and .15 cent.

Flobewan

01/08/15 3:54 PM

Post #80

Re: #79: @Davnet01 - Does anyone have any ideal what the projected

Don't know about the next 12 months but you can get an idea from the history.

http://www.nasdaq.com/symbol/whz/dividend-history

Davnet01

01/08/15 3:45 PM

Post #79

Does anyone have any ideal what the projected dividend will be over the next 12 months?

MtnManMike Free

06/18/14 11:20 AM

Post #78

POS cycle

Do I need to say anything more????
Ohhh wait there is a quarterly distribution.
That will save the day....

lesgetrich Free

06/04/14 9:13 PM

Post #77

Re: #76: @Flobewan - Prob because of divy pay

I think I may have found the cause. Check out the following article...

Whiting's Production Estimates Lead To $9.90 Fair Value For Trust II, 24% Downside

Flobewan

06/04/14 7:05 PM

Post #76

Re: #75: @lesgetrich - Anyone here have any idea why this stock

Prob because of divy pay

lesgetrich Free

06/04/14 7:01 PM

Post #75

Anyone here have any idea why this stock tanked so much a couple of days ago?

ModerateMan Terminated

12/21/13 10:48 PM

Post #74

Hmn...

Well my spreadsheet's pretty rudimentary, and the pricing could be a little different here and there, but my findings from WHX seem to point to good exit points here starting from the sixth dividend distribution.

(Easy way for sharing excel files and I'll post it)

It's missing some finer-points, like price volatility in the course of a year.

These values are Market Value of Shares Vs. Out-of-Pocket Cost (This is using $300 as a monthly investment, and unfortunately uses the price on the day of the dividend as the price for purchasing shares, for the sake of saving a little time)

1) 900.00 | 900.00
2) 1711.93 | 1800.00
3) 2066.18 | 2700.00
4) 2714.45 | 3600.00
5) 4832.36 | 4800.00
6) 7580.01 | 5700.00
7) 9820.35 | 6600.00
8) 11069.56 | 7500.00
9) 12975.02 | 8400.00
10) 16341.33 | 9300.00
11) 13751.03 | 10200.00
12) 15147.21 | 11100.00
13) 16094.20 | 12000.00
14) 18863.53 | 12900.00
15) 19865.45 | 13800.00
16) 22029.23 | 14700.00
17) 12048.56 | 15600.00
18) 10005.18 | 16500.00
19) 12129.75 | 17400.00
20) 11886.56 | 18300.00
21) 11495.32 | 19200.00
22) 16753.71 | 20100.00

So this kind of backs up my earlier fear as to what happens as the trust gets closer to maturity. So you CAN hold it and turn a decent profit, but you'll be losing out by a lot towards the end.

10times7

12/19/13 10:34 PM

Post #73

Re: #72: @ModerateMan - Sorry to bug ya again:

Some people do a automatic DRIP program reinvesting at whatever prices. I use the divy to buy other divy payers. The special dividend plays can be very lucrative if you get in early enough. Take DW for instance, paying $2.00 a share I think the X date is tomorrow

ModerateMan Terminated

12/18/13 12:35 PM

Post #72

Re: #70: @10times7 - WHX as a trust ends once the quarters

Sorry to bug ya again:

With WHX (Assuming you played around there?) were you reinvesting divs? If so, have you beat out the PPS depreciation with the added shares?

Just curious. I wound up busy most of last weekend so didn't have time to mess around with the price and div data from WHX.

ModerateMan Terminated

12/13/13 10:52 AM

Post #71

Re: #70: @10times7 - WHX as a trust ends once the quarters

Thanks. I understand the concept of them ending once the quarters have paid their divy, but I feel like if you're looking to build to your position over time then it's important to have the ability to sell at a price that allows you to sell at a profit.

I'm gonna do a little homework this weekend and try and judge what a constant monthly contribution of X (probably will use 100) would've gotten you at the historical prices (using WHX obviously) assuming dividend reinvestment and a sale of 100% of holdings a year out from maturity. (My concern, again, is whether it's feasible to assume that the accumulation can be easily sold)

I'll post my findings here Sunday/Monday

10times7

12/13/13 10:41 AM

Post #70

Re: #69: @ModerateMan - I've been tracking WHX but, again, my point

WHX as a trust ends once the quarters have paid their divy. Thats the point, it closes down to be traded no more. WHZ on the other hand is just starting, park your cash there. Its a O&G play and we all know O&G runs the world

happy hunting

ModerateMan Terminated

12/13/13 10:37 AM

Post #69

Re: #67: @10times7 - a good example of how a O&G trust

I've been tracking WHX but, again, my point of concern is that I don't have any finished trusts to go off. I'd rather start putting money in now than in 5 quarters. My big concern is that the capital stored in holding shares could (in my opinion... should) suffer severe losses in value the closer it comes to extinction.

I suppose my real concern pertains to how easy it would be to sell your accumulated shares in those last 4 quarters as I would imagine the buy volume would be very low at that point?

10times7

12/13/13 12:37 AM

Post #68

Re: #63: @SkeBallLarry - BACK on it's Highs, 10-X .. !!

Lovin it! Skiball

10times7

12/13/13 12:35 AM

Post #67

Re: #66: @ModerateMan - Question about price stability...

a good example of how a O&G trust will play out is to look at WHZ's sister trust WHX which peters out in 5 more quarters. WHZ is basically just getting started, I'll be parking more money into this one. WHX has been a great divy play so far.

ModerateMan Terminated

12/11/13 12:41 AM

Post #66

Question about price stability...

Not sure if anyone still comes to this board as it's been a while. I was considering going in on WHZ and trying to build up a position over-time, but I'm a little concerned about the timing of trust maturity.

WHZ is slated to mature in 2021 correct? I'm curious if anyone has any links where I might be able to see price-graphs for expired oil trusts?

If anyone happens to read this and help, thanks...

bobbytx1

11/15/13 10:49 AM

Post #65

Re: #64: @Timothy Smith - @SKE - Average around $12.50 and may average

WHX short time n buy this one back in 1.2 mths should be at low

Timothy Smith Free

11/11/13 12:05 AM

Post #64

Re: #60: @SkeBallLarry - AUSTIN, Texas, Nov 07, 2013 (BUSINESS WIRE) --

@SKE - Average around $12.50 and may average up here for additional dividend.

SkeBallLarry PremiumMember

11/08/13 1:02 PM

Post #63

Re: #62: @10times7 - Unitholders of record on November 19, 2013 will

BACK on it's Highs, 10-X .. !!

10times7

11/08/13 10:12 AM

Post #62

Re: #60: @SkeBallLarry - AUSTIN, Texas, Nov 07, 2013 (BUSINESS WIRE) --

Unitholders of record on November 19, 2013 will receive a distribution of
$0.888253 per unit,

.88 cent dividend

NICE!

bobbytx1

11/08/13 9:07 AM

Post #61

Re: #60: @SkeBallLarry - AUSTIN, Texas, Nov 07, 2013 (BUSINESS WIRE) --

divvy up 25% oh yeah 14.50 here we come

SkeBallLarry PremiumMember

11/07/13 4:06 PM

Post #60

Re: #58: @Timothy Smith - $WHZ - $$$$$

AUSTIN, Texas, Nov 07, 2013 (BUSINESS WIRE) -- Whiting USA Trust II (NYSE: WHZ)
announced the fourth Trust distribution in 2013, which relates to net profits
generated during the third quarterly payment period of 2013.

Unitholders of record on November 19, 2013 will receive a distribution of
$0.888253 per unit, which is payable on or before November 29, 2013.

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

bobbytx1

11/04/13 11:18 PM

Post #59

Re: #58: @Timothy Smith - $WHZ - $$$$$

another .30 tom would be BANK

Timothy Smith Free

11/04/13 10:13 PM

Post #58

Re: #53: @bobbytx1 - Look at it go 13.86 20 cents a

$WHZ - $$$$$

Flobewan

11/04/13 9:10 PM

Post #57

Re: #56: @10times7 - 1.095 is what the analysts are saying for

I don't think it will be close to that, it hasn't been in the past.

10times7

11/04/13 8:43 PM

Post #56

Re: #54: @Flobewan - Should be hearing about divy pretty soon

1.095 is what the analysts are saying for NS so WHZ has to be close to that :+)

bobbytx1

11/04/13 3:00 PM

Post #55

Re: #54: @Flobewan - Should be hearing about divy pretty soon

I think the 9th

Flobewan

11/04/13 2:53 PM

Post #54

Re: #53: @bobbytx1 - Look at it go 13.86 20 cents a

Should be hearing about divy pretty soon

bobbytx1

11/04/13 2:43 PM

Post #53

Re: #49: @Timothy Smith - The kind of dividends I like.

Look at it go 13.86 20 cents a day before X day could be 15.00

bobbytx1

11/04/13 9:30 AM

Post #52

Re: #50: @10times7 - .95 is good! I like that number for

14.50 this week $$$$$$

bobbytx1

11/04/13 9:30 AM

Post #51

Re: #50: @10times7 - .95 is good! I like that number for

14.50 this week $$$$$$

10times7

10/30/13 11:29 PM

Post #50

Re: #47: @bobbytx1 - The next divvy should be above .95 and

.95 is good! I like that number for 3Q. I suspect the numbers will be even higher come nov, dec, jan with winter demand in full swing. Thermostats at night are being turned up

whens the Ex date?

Timothy Smith Free

10/30/13 10:55 PM

Post #49

Re: #47: @bobbytx1 - The next divvy should be above .95 and

The kind of dividends I like.

bobbytx1

10/30/13 10:04 AM

Post #48

Re: #47: @bobbytx1 - The next divvy should be above .95 and

watch how this trades eow and next week up to divvy announce at least 14.50 high

bobbytx1

10/30/13 10:02 AM

Post #47

Re: #45: @Timothy Smith - The annualized dividend paid by Whiting USA Trust

The next divvy should be above .95 and they must pay 90% of money made the last 3 mth oil aug sept oct was above 103.00 ave we should get a 30% increase

Timothy Smith Free

10/30/13 2:41 AM

Post #46

Re: #44: @10times7 - Oct 23 (Reuters) - Whiting Petroleum Corp, which

Whiting USA Trust II (NYSE: WHZ) has been named as a Top 10 dividend paying energy stock, according to Dividend Channel, which published its weekly ”DividendRank” report. The report noted that among energy companies, WHZ shares displayed both attractive valuation metrics and strong profitability metrics.

For example, the recent WHZ share price of $14.94 represents a price-to-book ratio of 1.5 and an annual dividend yield of 17.42% — by comparison, the average energy stock in Dividend Channel’s coverage universe yields 4.6% and trades at a price-to-book ratio of 2.4. The report also cited the strong quarterly dividend history at Whiting USA Trust II, and favorable long-term multi-year growth rates in key fundamental data points.

http://www.forbes.com/sites/energystockchannel/2013/03/14/why-whiting-usa-trust-ii-is-a-top-10-energy-dividend-stock-whz/

Timothy Smith Free

10/30/13 2:40 AM

Post #45

Re: #40: @bobbytx1 - looking for .95 to 1.05 divvy Im already

The annualized dividend paid by Whiting USA Trust II is $2.603276/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 02/14/2013.

WHZ Dividend Channel stressed as being of key importance. Indeed, studying a company’s past dividend history can be of good help in judging whether the most recent dividend is likely to continue.

10times7

10/24/13 12:31 AM

Post #44

Oct 23 (Reuters) - Whiting Petroleum Corp, which drills for oil and natural gas in North Dakota, Texas and other shale-rich states, said its quarterly profit more than doubled as production jumped 12 percent.

The company posted third-quarter net income of $204.1 million, or $1.71 per share, compared with $82.9 million, or 70 cents per share, in the year-ago period.

Revenue rose 57 percent to $830.96 million.

Quarterly production rose 12 percent over the same period last year to an average of 92,750 barrels of oil equivalent per day (boe/d).

10times7

10/17/13 11:22 PM

Post #43

Re: #42: @bobbytx1 - we might get this to 15.00 the way

The 52 week range is from 12.29 to 20.08. We're in Autumn which there is less of a demand for heating fuels. Some of the northwest is already getting snow. By April the old 52 week high should be eclipsed, so there is sp appreciation in addition to the handsome quarterly dividend. The usual lows over summer is the best time to get into Oil companies generally.

bobbytx1

10/17/13 10:43 PM

Post #42

Re: #41: @10times7 - Only a month to go before the next

we might get this to 15.00 the way its moving and remember to sell 1 day before x day it goes lower most of time than the divvy look at chart my ave is 12.85

10times7

10/15/13 10:22 AM

Post #41

Re: #37: @Timothy Smith - Whiting USA Trust II began trading ex-dividend on

Only a month to go before the next Ex div date is upon us. $1.00 divy would be so nice. Since the country is heading into the winter season increasing demand, OIL will maintain $100.00 plus a barrel for the remainder of the season.

Older

WHITING USA TRUST II (WHZ)

Followers	5	Posters	18
Posts (Today)	0	Posts (Total)	90
Created	03/24/12	Type	Free
Moderators

Whiting USA Trust II

Whiting USA Trust II (WHZ) scheduled a $320 million IPO with a market capitalization of $368 million at a price range mid-point of $20 for Friday, March 23, 2012.

Summary

Whiting USA Trust II was formed by Whiting Petroleum Corporation to own a term net profits interest in certain long-lived, predominantly producing properties located primarily in the Rocky Mountains, Permian Basin, Gulf Coast and Mid-Continent regions of the United States.

The parent Whiting Petroleum (WLL) has a market capitalization of $6.7 billion. You can see the organization chart here. WHZ has an interest in a declining asset. See the chart here.

Because payments to the trust will be generated by depleting assets, and the trust has a finite life with the production from the underlying properties diminishing over time, a portion of each distribution will represent a return of the original investment (and the return amount is not clearly specified in the S-1).

Based on the reserve report, production attributable to the underlying properties is expected to decline at an average year-over-year rate of approximately 8.4% between 2012 and 2021. Furthermore, the trust is precluded from acquiring other oil and natural gas properties or net profits interests to replace the depleting assets and production.

Also from the S-1, "Based on the reserve report, the total estimated proved reserves attributable to the net profits interest had a pre-tax PV10% value of $323.6 million as of December 31, 2011," but the proposed market capitalization of WHZ is $368 million.

However, because the term of the trust continues until the later of December 31, 2021, or the time when the terminal production amount has been produced and sold, trust unitholders will have the right to participate in additional proceeds attributable to the underlying properties in excess of 10.61 MMBOE in the event such amount is produced and sold prior to December 31, 2021. [S-1]

The initial projected return for 2012 is $4.02 per unit, or 20% payout in the first year. However, part of the payout is return of capital, and that amount is not clearly specified in the filing.

Whiting USA Trust II was formed in December 2011 by Whiting Petroleum Corporation to own a term net profits interest in certain long-lived, predominantly producing properties located primarily in the Rocky Mountains, Permian Basin, Gulf Coast and Mid-Continent regions of the United States.

The net profits interest will entitle the trust to receive 90% of the net proceeds from Whiting's interests in the underlying properties after the effective date of the conveyance of the net profits interest to the trust.

The trust will make quarterly cash distributions of substantially all of its quarterly cash receipts of net proceeds attributable to the trust, after deduction of fees and expenses for administration of the trust, to holders of its trust units during the term of the net profits interest.

Termination

The net profits interest will terminate on the latter of (1) December 31, 2021, or (2) the time when 11.79 MMBOE have been produced from the underlying properties and sold (which is the equivalent of 10.61 MMBOE in respect of the trust's right to receive 90% of the net proceeds from such reserves, pursuant to the net profits interest), and subject to certain specified exceptions.

As of December 31, 2011, the estimated proved reserves attributable to the underlying properties for the full economic life of the underlying properties, as estimated in the reserve report, were 18.28 MMBOE with a pre-tax PV10% value of $408.5 million. (For an explanation of pre-tax PV10% value and a comparison of pre-tax PV10% value to the standardized measure of oil and gas, please read "- Major producing areas" beginning on page 3 in the S-1.)

Based on the reserve report, the net profits interest would entitle the trust to receive net proceeds from the sale of production of an estimated 10.61 MMBOE of proved reserves during the term of the net profits interest, calculated as 90% of the proved reserves attributable to the underlying properties expected to be produced during the term of the net profits interest.

Based on the report, the total estimated proved reserves attributable to the net profits interest had a pre-tax PV10% value of $323.6 million as of December 31, 2011. The exact rate of production attributable to the underlying properties cannot be predicted.

However, because the term of the trust continues until the later of December 31, 2021, or the time when the terminal production amount has been produced and sold, trust unitholders will have the right to participate in additional proceeds attributable to the underlying properties in excess of 10.61 MMBOE in the event such amount is produced and sold prior to December 31, 2021.

As of December 31, 2011, and assuming its continued ownership of the underlying properties, the total estimated proved reserves attributable to Whiting's remaining interest in the underlying properties at the termination of the net profits interest, as estimated in the reserve report, are expected to be 6.49 MMBOE, or approximately 35.5% of total estimated proved reserves attributable to the underlying properties.

Underlying Properties

The underlying properties include interests in 1,300 gross (390.3 net) producing wells located in 49 predominantly mature fields with established production profiles in 10 states. As of December 31, 2011, approximately 96.4% of estimated proved reserves attributable to the underlying properties during the estimated term of the net profits interest were classified as proved, developed, producing reserves; 2.3% were classified as proved, developed non-producing reserves; and 1.3% were classified as proved, undeveloped reserves.

For the three months ended December 31, 2011, the average daily net production from the underlying properties was approximately 4,988 BOE/d (or 4,489 BOE/d attributable to the net profits interest) and comprised approximately 72% oil, 25% natural gas and 3% natural gas liquids. Based on the reserve report, production attributable to the underlying properties is expected to decline at an average year-over-year 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.

Whiting operates approximately 59% and 56% of the estimated proved reserve volumes and pre-tax PV10% value, respectively, of these properties, based on the reserve report.

Whiting believes that its retained interest in the underlying properties, which entitles it to 10% of the net proceeds from the sale of production attributable to the underlying properties during the term of the net profits interest and all of the net proceeds thereafter, together with its ownership of trust units, if any, will provide incentive for it to operate (or cause to be operated) the underlying properties in an efficient and cost-effective manner.

In addition, Whiting has agreed to operate the properties for which it is the operator as a reasonably prudent operator in the same manner that it would operate if these properties were not burdened by the net profits interest. Furthermore, for those properties that it is not the operator, Whiting has agreed to use commercially reasonable efforts to cause the operator to operate the property in the same manner; however, Whiting's ability to cause other operators to take certain actions is limited. Whiting has limited control over activities on the underlying properties that Whiting does not operate, which could reduce production from the underlying properties, increase capital expenditures and reduce cash available for distribution to trust unitholders".

Marketing and Sales

Whiting principally sells its oil and natural gas production to end users, marketers and other purchasers that have access to nearby pipeline facilities. In areas where there is no practical access to pipelines, oil is trucked to storage facilities.

During 2009, sales to Chevron USA (CVX), ConocoPhillips (COP), Plains Marketing LP and Marathon Oil (MRO) Corporation accounted for 13%, 13%, 11% and 11%, respectively, of total oil and natural gas sales related to the underlying properties.

During 2010, sales to Plains Marketing LP, Chevron USA, ConocoPhillips and Marathon Oil Corporation accounted for 14%, 13%, 13%, and 11%, respectively, of total oil and natural gas sales related to the underlying properties.

During 2011, sales to Plains Marketing LP, Chevron USA, ConocoPhillips and Marathon Oil Corporation accounted for 16%, 14%, 13% and 11%, respectively, of total oil and gas sales related to the underlying properties.

Whiting believes that the loss of any of the 10% customers does not present a material risk because there is significant competition among purchasers of crude oil and natural gas in the areas of the underlying properties and, if Whiting were to lose any of their largest purchasers, several entities could purchase crude oil and natural gas produced from the underlying properties with little or no interruption.

Selling Trust Unitholder

Prior to the closing of this offering, Whiting Petroleum Corporation's wholly-owned subsidiary, Whiting Oil and Gas Corporation, will convey the net profits interest to the trust in consideration for the issuance by the trust of 18,400,000 units, which will be distributed as a dividend to Whiting Petroleum Corporation. Of those trust units, 16,000,000 are being offered hereby and 2,400,000 will be subject to purchase by the underwriters pursuant to its over-allotment option. Whiting may from time to time sell any trust units it has retained.

Whiting has agreed, however, not to sell any of such trust units for a period of 180 days after the date of this prospectus without the consent of Raymond James & Associates, Inc. and Morgan Stanley & Co. LLC acting as representatives of the several underwriters.

Use of Proceeds

Prior to the closing of this offering, Whiting Petroleum Corporation's wholly owned subsidiary, Whiting Oil and Gas Corporation, will convey the term net profits interest to the trust in consideration for the issuance by the trust of 18,400,000 trust units, which will be distributed as a dividend to Whiting Petroleum Corporation.

Whiting will pay underwriting discounts, the structuring fee and estimated expenses of approximately $23.2 million, assuming the underwriters do not exercise their over-allotment option and an assumed initial public offering price of $20.00 per trust unit, associated with this offering and will receive all net proceeds from the offering.

The estimated net proceeds to Whiting, assuming an initial public offering price of $20.00 per trust unit, will be approximately $296.8 million, and will increase to approximately $341.6 million if the underwriters exercise their over-allotment option in full.

Whiting intends to use the net proceeds from this offering to repay a portion of the debt outstanding under its credit agreement. Borrowings under its credit agreement had a weighted average interest rate of 2.4% as of December 31, 2011, and mature in April 2016.

Affiliates of Raymond James & Associates, Inc.; Morgan Stanley & Co., LLC; J.P. Morgan Securities, LLC; and RBC Capital Markets, LLC are lenders under Whiting Oil and Gas Corporation's bank credit facility, and each will receive its proportionate share of the net proceeds of the offering used to repay a portion of the outstanding balance under the credit facility.

http://phx.corporate-ir.net/phoenix.zhtml?c=147759&p=irol-irhome