Whiting Operations Map
Corporate Overview
Whiting Petroleum Corporation, a Delaware corporation, is an independent oil and gas company that acquires, exploits, develops and explores for crude oil, natural gas and natural gas liquids primarily in the Permian Basin, Rocky Mountain, Mid-Continent, Gulf Coast and Michigan regions of the United States. The Company trades publicly under the symbol WLL on the New York Stock Exchange.
Whiting’s operational strategy is to “acquire, exploit and explore.” Since becoming a public company in November of 2003, we have built a quality asset base through strategic acquisitions. During that period, we acquired 208.4 MMBOE of proved reserves for $1.475 billion, or an acquisition cost of $7.08 per BOE. Approximately 47% of these reserves were undeveloped reserves.
In 2006 and 2007, Whiting focused on the development and exploitation of these acquired properties, bringing the Company’s proved developed reserves as a percentage of its total reserves to 67% at year-end 2007, up from 59% at year-end 2005.
In 2008, we expect to show organic growth in both production and reserves through our drilling programs in the Bakken and in the Piceance Basin and from the implementation of our two CO2 projects.
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