Whiting Petroleum SWOT Analysis, USP & Competitors

Posted in Energy, Total Reads: 704
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SWOT Analysis of Whiting Petroleum with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Whiting Petroleum

Parent Company

Whiting Petroleum

Category

Oil and Gas

Sector

Energy

Tagline/ Slogan

World Class oil and gas finders

USP

One of the largest producers in the Bakken Shale

STP

Segment

Enterprises and individuals with energy requirements

Target Group

Entities which require oil and gas

Positioning

An independent exploration and production company with an oil focused asset base

SWOT Analysis

Strengths

1. An increase in oil production which is primarily a result of its organic production growth in the North Dakota Bakken and Three Forks formations as well as the continued expansion from its two carbon dioxide (CO2) EOR projects (a technique for increasing the amount of crude oil that can be extracted from an oil field by injecting CO2), which as contribute to its top-line growth
2. Its strong asset base of exploration of crude oil, natural gas, and natural gas liquids primarily in the Rocky Mountain, Permian Basin, Mid Continent, Gulf Coast, and Michigan regions of the US has helped it score high as compared to other market players
3. Its accompanying oil transmission lines (connecting the Sanish field to the Enbridge pipeline in Stanley, North Dakota, connecting Pronghorn into the Bridger Four Bears etc.) have given it a competitive edge
4. Strong R&D activities (for example, in conventional and 3-D seismic imaging, in managing CO2 floods,in the  “Drill Well on Paper” (DWOP) process, in its 24 stage fracture stimulation treatment , SEMs(Scanning Electron Microscopes) and POP(Put on Production) techniques) helps it enhance operational efficiency
5. Maintenance of its drilling inventories proves to be time-efficient thereby increasing the production of crude oil, natural gas, and natural gas liquids, thus playing a significant part of the growth strategy

Weaknesses

1. Concentration of its operations to the US exposes it more to the risks related to political, economic troubles local to the US and hinders its growth
2. Its dependence on third parties for expenditures, operating procedures, and future development of some properties it owns, can have an impact on its production and revenues

Opportunities

1. Further development of its North Ward Estes Field, one of its prime assets will help increase its production portfolio and contribute to its revenues
2. Rising demand for natural gas in the US provides an opportunity for the company to increase its top-line growth.
3.  Its acquisition of more acreage in its core Bakken area would give more opportunities

Threats

1. Volatility in oil and natural gas prices due to geo-political and other factors can impact its operations and revenues
2. Rising capital costs in the refining sector can lead to huge operational losses for the company and affect its workings
3. Stringent legal and environmental regulations under which it might be asked to work, can cause greater costs and lead to revenue losses
4. Drilling and exploratory risks common to such activities as it is involved in, can cause loss to life and property, thereby reducing its productivity

Competition

Competitors

1. Andarko Petroleum Corporation
2. Cabot Oil and Gas Corporation
3. Forest Oil Corporation
4. Black Hills Corporation

 


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