Whiting Petroleum Corporation is an American company engaged in hydrocarbon exploration. It is a publicly traded enterprise formally organized and incorporated in Delaware with its operational headquarters located in Denver, Colorado.
As of December 31, 2020, the company held approx. 260.2 million barrels of oil equivalent of secure, recoverable proven energy reserves, of which 63% was petroleum i.e. hydro carbons, 18% natural gas liquids, and 19% natural gas.
Of these reserves, a total of 93% was located in the area of the Bakken Formation and Three Forks Shale, while 5% was located in the Denver Basin, and the remaining 2% was located across other locations.
The company was founded in 1980 by Kenneth R. Whiting and Bert Ladd.
In 1992, Alliant Energy, a Midwest public utility, acquired the company for $27.5 million.
In 2003, the company became a public company via an initial public offering which raised over $400 million.
In 2005, the company acquired assets in the North Ward Estes field for $459 million. 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.
In August 2013, the company acquired assets in the Williston Basin for $260 million.
In 2014, the company acquired Kodiak Oil & Gas. Kodiak had proven reserves of 167 million barrels of oil equivalent and Whiting effectively paid $23.77 per barrel in the ground.