Whiting Petroleum Corporation (NYSE:WLL) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
On August14, 2017, Whiting Resources Corporation, a subsidiary of Whiting Petroleum Corporation, and Rimrock Oil& Gas Williston, LLC entered into a Purchase and Sale Agreement (the “Agreement”) to sell certain producing oil and gas properties located in the Fort Berthold Indian Reservation area in Dunn, McLean and Mountrail Counties, North Dakota, and certain other related assets and liabilities. The Agreement provides that the transaction will be effective September1, 2017, for a cash purchase price of $500million, subject to certain post-closing adjustments. The transaction is expected to close on September1, 2017, subject to customary conditions.
About Whiting Petroleum Corporation (NYSE:WLL)
Whiting Petroleum Corporation is an independent oil and gas company. The Company is engaged in development, production, acquisition and exploration activities primarily in the Rocky Mountains and Permian Basin regions of the United States. The Company operates in the segment of exploration and production of crude oil, natural gas liquid (NGLs) and natural gas. The Company’s estimated proved reserves totaled approximately 820.6 Million Barrels of Oil Equivalent (MMBOE). The Company has interests in approximately 5,889 gross (3,177 net) productive wells on approximately 948,600 gross (593,900 net) developed acres across all its geographical areas. The Company’s Rocky Mountains operations include assets in the states of Colorado, Montana and North Dakota. The Company’s Permian Basin operations include its North Ward Estes field in the Ward and Winkler counties of Texas. Its other operations primarily relate to non-core assets in Colorado, Mississippi, North Dakota, Texas and Wyoming.
