Produced 127 MBOEPD in Q1
Whiting Petroleum Corporation (ticker: WLL) is an independent exploration and production company focused on an oil asset base in North Dakota’s Williston Basin. Headquartered in Denver, Colorado, Whiting is one of the largest crude oil producers in North Dakota.
Whiting produced an average of 127 MBOEPD in the first quarter of 2018. The company drilled 24 Williston Basin wells in the quarter and placed 19 wells on production in the play. In its Redtail acreage in the DJ Basin, the company brought six wells online. The company said in its Q1 report that it is exploring the monetization of its Redtail assets, which would leave the company with only Bakken properties.
Replacing one-size-fits-all with custom completion designs
Whiting has shifted away from a one-size-fits-all fracture design philosophy. The company is now using calibrated completion models to determine the optimal completion design for individual areas, and then adjusting these based on the density of nearby wells.
In the first quarter of 2018, total net production for the company averaged 127,050 BOEPD.
The Bakken/Three Forks play in the Williston Basin averaged 103,115 BOEPD for Whiting, and the Redtail Niobrara/Codell play in the DJ Basin averaged 23,300 BOEPD.
President and CEO Bradley J. Holly
Bradley J. Holly became president and CEO of Whiting Petroleum on November 1, 2017. Holly had previously served as EVP of U.S. onshore exploration and production for Anadarko Petroleum Corporation. Holly’s predecessor, James J. Volker, served as Whiting’s president and CEO from 2002 until his recent retirement.
Whiting Petroleum will present at the EnerCom conference in Denver
Whiting Petroleum will be presenting at the 23rd annual edition of The Oil & Gas Conference®. The conference will take place August 19-23, 2018, at the Westin Denver Downtown. Investment and oil and gas professionals may register for the conference on the website.
