February 22, 2018 / 4:40 PM / 3 months ago

BRIEF-Whiting Petroleum To Sell Redtail Assets in Colorado

Feb 22 (Reuters) - Whiting Petroleum Corp:

* CHIEF EXECUTIVE BRAD HOLLY BEGINS FIRST EARNINGS CALL AS CEO WITH INVESTORS

* CEO SAYS WILL PURSUE STRATEGY OF BALANCED GROWTH AND FREE CASH FLOW

* CEO SAYS EXPLORING SALE OF REDTAIL ASSETS IN COLORADO

* SAYS BOARD HAS ADDED DRILLING RATE OF RETURN METRIC TO EXECUTIVE COMPENSATION PLAN

* CEO SAYS HAS HIRED ADVISER FOR SALE OF REDTAIL ASSETS

* CEO SAYS EXPECTS SALE OF REDTAIL ASSETS AS A ‘SECOND-QUARTER EVENT’

* CEO SAYS GOAL FOR REDTAIL SALE WOULD BE TO SELL UPSTREAM, MIDSTREAM ASSETS AT SAME TIME

* CEO: ‘WE LIKE GENERATING FREE CASH FLOW’

* SAYS HAS FOUR DRILLING RIGS IN BAKKEN NOW, MIGHT ADD ONE MORE IN SUMMER Source text for Eikon: Further company coverage: (Reporting By Ernest Scheyder)

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