Bakken Shale producer Whiting Petroleum Corp. posted higher 1Q2021 revenues despite lower production as commodity prices strengthened.

Output declined in the first quarter to 8.1 million boe from 8.44 million boe in 4Q2020. Natural gas production totaled 10.3 Bcf compared to 10.7 Bcf in 4Q2020, while natural gas liquids (NGL) output rose slightly to 1.56 million bbl from 1.54 million bbl. Oil production fell from 5.1 million bbl to 4.8 million bbl. 

The company did not report its first quarter results in 2020, when it was in the middle of Chapter 11 restructuring.  

Operating revenue in 1Q2021 climbed on the back of better prices, totaling $307.4 million compared with $212.3 million in 4Q2020. Realized natural gas prices were $2.06/MMBtu in 1Q2021, compared with 55 cents in...