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An Introduction to Whiting Petroleum

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Whiting Petroleum

Whiting Petroleum (WLL) is an independent exploration and production (or E&P) company operating primarily in the Rocky Mountain region of the US. The company’s operations are focused in the Bakken and Three Forks plays in North Dakota, as well as the Redtail Niobrara play in Colorado’s DJ Basin.

Other operators in the Bakken Shale include Continental Resources (CLR), Hess (HES), and Triangle Petroleum (TPLM). Key players in the DJ Basin include Noble Energy (NBL) and Anadarko Petroleum (APC). HES, NBL, and APC make up 5.5% of the Energy Select Sector SPDR ETF (XLE).

Whiting Petroleum (WLL) holds 443,125 net acres in the Williston Basin, where the Bakken and Three Forks plays are located. At the end of 2015, WLL had ~6,050 gross drilling locations in the Williston Basin.

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WLL controls 129,035 net acres in the DJ Basin. On December 31, 2015, the company had an inventory of ~6,320 future gross drilling locations on its leasehold. The Williston Basin accounts for the majority of WLL’s production. In 3Q16, production from the Williston Basin accounted for 88% of Whiting Petroleum’s total production.

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