market folly

Andreas Halvorsen's hedge fund firm Viking Global has filed a 13G with the SEC regarding shares of Whiting Petroleum (WLL).  Per the filing, Viking now owns 5% of Whiting with over 10.26 million shares.

This is a new equity position for Viking as they did not show a stake as of the end of the first quarter.  The filing was made due to portfolio activity on July 2nd.

After shares plummeted from $90 down to $25 in 2014, shares of WLL have largely traded sideways throughout 2015.

We've also highlighted other recent portfolio activity from Viking Global here.

Per Google Finance, Whiting Petroleum is "an independent oil and gas company. The Company is engaged in exploration, development, acquisition and production of crude oil, NGLs and natural gas in the Rocky Mountains and Permian Basin regions of the United States. The Company's Rocky Mountains operations include assets in the states of Colorado, Montana, North Dakota, Utah and Wyoming. The Company's Permian Basin operations include assets in Texas and New Mexico. The Company's other operations primarily include its assets in Arkansas, Michigan, Oklahoma and Texas."