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Whiting Petroleum CEO: Execution Excellence | Mad Money | CNBC
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May 8, 2018
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With crude prices crossing $70, Jim Cramer sits down with the CEO of Whiting Petroleum. The oil company’s slick with profits, but does it have what it takes to keep the monster run going?
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Whiting Petroleum CEO: Execution Excellence | Mad Money | CNBC
Oil prices hit a fresh all-time high on Monday before declining ahead of President Donald Trump's policy announcement on Iran. And if you ask Brad Holly, the president and CEO of Whiting Petroleum, he'll tell you these kinds of swings are here to stay.
"I think it's going to be very volatile going forward," he told CNBC in a Monday interview with Cramer. "There's certainly geopolitical events that could happen, but we think the fundamentals are strong."
Whiting, an independent oil and gas producer that mainly does business in North Dakota's Bakken shale, is very active in managing its portfolio and seeking "tier-one" assets, Holly told Cramer. For Holly, focusing on the industry's fundamentals is essential to those goals.
"We think inventories are in place, we think demand – one and a half million barrels a day – is strong," the CEO said. "We think the supply may have trouble making up for that demand, and so we're bullish on oil long term."
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