Whiting Petroleum Corporation is a petroleum and natural gas exploration and production company headquartered in Denver, Colorado.
As of December 31, 2016, the company had 615 million barrels of oil equivalent (3.76×10 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.
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, creating the largest producer in the Bakken formation and Three Forks Shale of Montana and North Dakota. Kodiak had proven reserves of 167 million barrels of oil equivalent (1.02×10 GJ) and Whiting effectively paid $23.77 per barrel in the ground.
In January 2017, the company sold midstream assets in North Dakota for $375 million.
In August 2017, the company sold its assets near the Fort Berthold Indian Reservation in North Dakota for $500 million.