Whiting Petroleum Corporation

    [td_text_with_title custom_title=”Company description”]Whiting Petroleum Corporation is a Denver-based oil and gas exploration and production company. The company focuses on exploitation of lower risk properties, primarily on those located in the Gulf Coast, Permian Basin, Rocky Mountains, Michigan and Mid-Continent regions of the United States. In 2014 it ranked 764th on the Fortune 1000.[/td_text_with_title]
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    [/td_text_with_title][td_text_with_title custom_title=”From Wikipedia”]

    Whiting Petroleum Corporation is a petroleum and natural gas exploration and production company headquartered in Denver, Colorado.

    Current operations

    As of December 31, 2016, the company had 615 million barrels of oil equivalent (3.76×109 GJ) of estimated proved reserves, of which 64% was petroleum, 16% was natural gas liquids, and 19% was natural gas. Of these reserves, 74% were located in the Bakken Formation and Three Forks Shale of Montana and North Dakota and 26% were located in the Niobrara Formation of Colorado.[1]

    History

    The company was founded in 1980 by Kenneth R. Whiting and Bert Ladd.[2]

    In 1992, Alliant Energy, a Midwest public utility, acquired the company for $27.5 million.[3]

    In 2003, the company became a public company via an initial public offering which raised over $400 million.[4]

    In 2005, the company acquired assets in the North Ward Estes field for $459 million.[5] The property was sold in 2016 for $300 million.

    In July 2013, the company sold assets in the Oklahoma Panhandle to BreitBurn Energy Partners for $846 million.[6]

    In August 2013, the company acquired assets in the Williston Basin for $260 million.[7]

    In 2014, the company acquired Kodiak Oil & Gas, creating the largest producer in the Bakken formation and Three Forks Shale of Montana and North Dakota.[8] Kodiak had proven reserves of 167 million barrels of oil equivalent (1.02×109 GJ) and Whiting effectively paid $23.77 per barrel in the ground.[9]

    In January 2017, the company sold midstream assets in North Dakota for $375 million.[10][11]

    In August 2017, the company sold its assets near the Fort Berthold Indian Reservation in North Dakota for $500 million.[12]

    References

    source: https://en.wikipedia.org/wiki/Whiting_Petroleum_Corporation[/td_text_with_title]