Denver-based Whiting Petroleum last April earned the dubious distinction as the first major U.S. oil producer to file for bankruptcy after crude prices fell into an abyss. But with new leadership at the wheel, Whiting has re-emerged, crafting strategic moves to reclaim its place as N.D.’s biggest producer. Reese Energy Consulting today is following the latest news from Whiting, which is waving goodbye to its sizeable assets in Colo.’s DJ Basin and going full throttle in the Bakken. The E&P has just announced duo deals totaling $458 million, putting the Rocky Mountains in the rearview and revving up in the Williston Basin. Whiting has sold its entire position in the DJ for $187 million to an undisclosed buyer with assets that include 67,278 net acres and 7,100 BOEPD in production. In a second transaction, the company has acquired 8,752 net acres in the Williston with production of 4,200 BOEPD for $271 million, this also from an undisclosed buyer. The acquisition adds to Whiting’s current portfolio of 478,000 net acres in the Bakken and Three Forks shale plays, making it the third-largest producer.
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Whiting Petroleum Corporation is an independent exploration and production company with an oil focused asset base. We are a top crude oil producer in North Dakota and operate substantial assets in northern Colorado. Headquartered in Denver, Colorado, we lead the industry with our competitive assets, commitment to safety, dedication to technology and record-setting results. Whiting is a competitive company, with a strong, responsible plan to create long-term value.