Last $87.96 USD
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Company Description

Contact Info

1700 Broadway

Suite 2300

Denver, CO 80290

United States

Phone: 303-837-1661

Fax: 303-861-4023

Whiting Petroleum Corporation, an independent oil and gas company, is engaged in acquisition, exploration, development, and production activities primarily in the Rocky Mountains and Permian Basin regions of the United States. As of December 31, 2013, the company’s estimated proved reserves totaled 438.5 million barrel of oil equivalent (MMBOE). It had assembled approximately 1,147,500 gross (715,000 net) developed and undeveloped acres in the Williston Basin located in Montana and North Dakota. The company also had 18 drilling rigs operating in the Williston Basin. As of December 31, 2013, the company had interests in 10,476 gross (3,922 net) productive wells across approximately 1,387,200 gross (751,700 net) developed acres across all its geographical areas. Oil and Gas Properties and Projects Rocky Mountains Region The company’s Rocky Mountains operations include assets in the states of North Dakota, Colorado, Montana, Wyoming, Utah, and California. As of December 31, 2013, its estimated proved reserves in the Rocky Mountains region were 297.0 MMBOE. Sanish and Parshall Fields: The company’s Sanish and Parshall fields in Mountrail County, North Dakota target the Bakken and Three Forks formations, and include approximately 174,700 gross (82,400 net) developed and undeveloped acres. As of December 31, 2013, it had four drilling rigs active in the Sanish field. Lewis & Clark/Pronghorn Fields: The company’s Lewis & Clark/Pronghorn fields are located primarily in the Stark and Billings counties of North Dakota and run along the Bakken shale pinch-out in the southern Williston Basin. As of December 31, 2013, the Lewis & Clark/Pronghorn fields included approximately 392,500 gross (263,400 net) developed and undeveloped acres. It had four drilling rigs operating in the Pronghorn field. The company has completed the construction of its gas processing plant located south of Belfield, North Dakota, which has a processing capacity of 35 MMcf/d and which primarily processes production from the Pronghorn area. Hidden Bench/Tarpon Fields: The company’s Hidden Bench and Tarpon fields in McKenzie County, North Dakota target the Bakken and Three Forks formations, and included approximately 66,800 gross (37,400 net) developed and undeveloped acres and 8,800 gross (6,300 net) developed and undeveloped acres, respectively, as of December 31, 2013. Missouri Breaks Field: As of December 31, 2013, the company had approximately 98,600 gross (64,300 net) developed and undeveloped acres at its Missouri Breaks field located in Richland County, Montana and McKenzie County, North Dakota. The company has drilled wells on the western, eastern and southern portions of its acreage in this area. Redtail Field: The company’s Redtail field in the Weld County, Colorado portion of the DJ Basin targets the Niobrara formation and included approximately 169,700 gross (122,300 net) developed and undeveloped acres as of December 31, 2013. It had three drilling rigs operating in this area. Permian Basin Region The company’s Permian Basin operations include assets in Texas and New Mexico. North Ward Estes Field: The North Ward Estes field includes six base leases with 100% working interests in approximately 62,300 gross (60,500 net) developed and undeveloped acres in Ward and Winkler counties, Texas. Big Tex Prospect: As of December 31, 2013, the company had accumulated approximately 52,300 gross (40,900 net) developed and undeveloped acres at its Big Tex prospect in Pecos, Reeves and Ward counties, Texas in the Delaware Basin. Other The company’s other operations primarily relate to assets in Arkansas, Louisiana, Michigan, Oklahoma, and Texas. In Michigan, it also operates the West Branch and Reno gas processing plants. The West Branch plant gathers production from the Clayton unit, West Branch field and other smaller fields. Customers The company principally sells its oil and gas production to end users, marketers and other purchasers that have access to nearby pipeline facilities. In 2013, its major customers included Plains Marketing LP; Shell Trading US; Eighty Eight Oil Company; and Bridger Trading LLC. Business Strategy The company’s business strategy includes pursuing high-return organic reserve additions; developing existing properties; and improving through accretive acquisitions. Regulation Some of the company’s offshore operations are conducted on federal leases that are administered by the Bureau of Ocean Energy Management. History Whiting Petroleum Corporation was founded in 1980. The company was incorporated in 2003.

 

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