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Whiting Petroleum Corporation

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Namestring
Whiting Petroleum Corporation
Websiteurl
whiting.com
Company typeenum
Private
Founded yearint
1980
Descriptiontext

Whiting Petroleum Corporation is an independent U.S. upstream oil and gas exploration and production company founded in 1980 and headquartered in Denver, Colorado. The company historically focused on the development and production of crude oil, natural gas, and natural gas liquids, with its core acreage and operations concentrated in the Bakken and Three Forks formations of the Williston Basin in North Dakota and Montana. Its predecessor entity was publicly listed on the NYSE under ticker WLL prior to a 2020 restructuring event.

The company's revenue model is the sale of produced hydrocarbons at wellhead or basin pricing points, indexed primarily to WTI crude oil benchmarks. Financial disclosures spanning 2017-2021 show annual revenue ranging from approximately $732 million to $2.08 billion, with substantial year-over-year volatility driven by commodity price cycles — a $3.93 billion net loss in 2020 coincided with the COVID-19 demand shock and the company's Chapter 11 filing. EBITDA ranged from approximately $430 million to $1.39 billion over the same window, reflecting the operating leverage typical of capital-intensive E&Ps.

Post-restructuring, Whiting operates as a delisted entity with a deleveraged capital structure but at a smaller revenue and production base than its 2018 peak. Leadership includes a Chairman/President/CEO (Bradley Holly), CFO (Michael Stevens), and operational VPs covering land, planning, and legal functions. The 5,001-10,000 employee headcount range is consistent with a mid-to-large independent E&P that retains full-cycle operational capability (drilling, completion, production, midstream coordination) within a single core basin.

Short descriptiontext

Whiting Petroleum Corporation is a Denver-based independent U.S. oil and gas exploration and production company founded in 1980, historically focused on crude oil and natural gas production in the Bakken and Three Forks formations of the Williston Basin.

Ownership categoryenum
Headcount rangeband
501–1,000
akta.pro rankint
HeadquartersHouston, United States
HQ citystring
Houston
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Keyword5 values
crude oil production, natural gas exploration, upstream oil and gas, shale hydrocarbon development, onshore energy production
Industry2 codes
1Drilling & Well Construction (E&P Operator-led)
CodeEUALAAADPrimaryYes
2Production Operations & Well Optimization (Artificial Lift, Flow Assurance)
CodeEUALAAAFPrimaryNo
NAICS code2 codes
  • Crude Petroleum Extraction21112
  • Oil and Gas Extraction211
SIC code1 code
  • Crude Petroleum & Natural Gas1311
Product category
Upstream Oil and Gas Production
Social media profiles2 records
Cost components4 values
Operations, Infrastructure, Personnel, Supply Chain
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

Whiting Petroleum Corporation is an independent U.S. upstream oil and gas company engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids from onshore basins in the United States. Its core operations center on the Williston Basin (Bakken/Three Forks) and the DJ Basin (Niobrara), producing hydrocarbons that are sold to refiners, pipeline operators, and commodity purchasers.

Differentiator
Functional benefit
Problem solved
Product and service3 records
1Crude Oil Production
CategoryUpstream Oil and Gas
2Natural Gas Production
CategoryUpstream Oil and Gas
3Natural Gas Liquids (NGLs) Production
CategoryUpstream Oil and Gas
Recent move5 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight3 records

Each record includes

Type, Description

Peers10 records
1Devon Energy
TypeBroad incumbent
Description

Large-cap US independent E&P with significant shale operations across multiple basins. Directly comparable upstream business model with broader product mix.

2Hess Corporation
TypeDirect peer
Description

Independent operator with material Bakken production alongside offshore assets. Directly comparable upstream scale and shale decline economics.

3Pioneer Natural Resources
TypeBroad incumbent
Description

Major independent E&P historically focused on the Permian/Delaware. Comparable pure-play shale model and US-centric upstream exposure (acquired by ExxonMobil in 2024).

4Continental Resources
TypeDirect peer
Description

Largest independent operator in the Bakken/Williston Basin. Directly comparable upstream tight-oil asset base and capital-intensive operating model to Whiting.

5Civitas Resources
TypeRegional player
Description

Denver-based pure-play US shale operator focused on the DJ and Powder River basins. Comparable independent E&P model with overlapping US shale and Denver cultural base.

6Chord Energy (formerly Oasis Petroleum)
TypeDirect peer
Description

Bakken-focused independent E&P that acquired Whiting Petroleum in 2022. Near-identical Williston Basin footprint and pure-play US shale model.

7EOG Resources
TypeBroad incumbent
Description

Largest US independent E&P with multi-basin exposure including the Bakken. Comparable pure-play upstream model with greater geographic diversification.

8Marathon Oil
TypeBroad incumbent
Description

Independent E&P with significant Bakken and Eagle Ford positions pre-merger. Highly comparable US shale operating model prior to the 2024 ConocoPhillips transaction.

9Murphy Oil
TypeBroad incumbent
Description

Independent E&P with onshore US exposure including Eagle Ford. Comparable upstream scale and US shale specialization outside of large-cap diversified players.

10Northern Oil and Gas
TypeEmerging player
Description

Bakken and US shale non-operating mineral and leasehold holder. Structurally smaller and non-op, but direct basin overlap (Williston) makes it a partial comparable to Whiting's core footprint.

Market position
Strengths3 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat3 records

Each record includes

Type, Details

Key risks5 records

Each record includes

Headline, Details, Source

Key highlights5 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles8 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Whiting Petroleum Corporation

Upstream Oil and Gas Productionwhiting.com

Whiting Petroleum Corporation is a Denver-based independent U.S. oil and gas exploration and production company founded in 1980, historically focused on crude oil and natural gas production in the Bakken and Three Forks formations of the Williston Basin.

What Whiting Petroleum Corporation does

Whiting Petroleum Corporation is an independent U.S. upstream oil and gas exploration and production company founded in 1980 and headquartered in Denver, Colorado. The company historically focused on the development and production of crude oil, natural gas, and natural gas liquids, with its core acreage and operations concentrated in the Bakken and Three Forks formations of the Williston Basin in North Dakota and Montana. Its predecessor entity was publicly listed on the NYSE under ticker WLL prior to a 2020 restructuring event.

The company's revenue model is the sale of produced hydrocarbons at wellhead or basin pricing points, indexed primarily to WTI crude oil benchmarks. Financial disclosures spanning 2017-2021 show annual revenue ranging from approximately $732 million to $2.08 billion, with substantial year-over-year volatility driven by commodity price cycles — a $3.93 billion net loss in 2020 coincided with the COVID-19 demand shock and the company's Chapter 11 filing. EBITDA ranged from approximately $430 million to $1.39 billion over the same window, reflecting the operating leverage typical of capital-intensive E&Ps.

Post-restructuring, Whiting operates as a delisted entity with a deleveraged capital structure but at a smaller revenue and production base than its 2018 peak. Leadership includes a Chairman/President/CEO (Bradley Holly), CFO (Michael Stevens), and operational VPs covering land, planning, and legal functions. The 5,001-10,000 employee headcount range is consistent with a mid-to-large independent E&P that retains full-cycle operational capability (drilling, completion, production, midstream coordination) within a single core basin.

Whiting Petroleum Corporation firmographics

Firmographics
Name
Whiting Petroleum Corporation
Website
https://whiting.com
Company type
Private
Founded year
1980
Headcount range
501–1,000 employees
Short description
Whiting Petroleum Corporation is a Denver-based independent U.S. oil and gas exploration and production company founded in 1980, historically focused on crude oil and natural gas production in the Bakken and Three Forks formations of the Williston Basin.
Ownership category
akta.pro rank

Whiting Petroleum Corporation industry classification

Industry
Product category
Upstream Oil and Gas Production
NAICS
Crude Petroleum Extraction (21112), Oil and Gas Extraction (211)
SIC
Crude Petroleum & Natural Gas (1311)
akta.pro primary industry
Drilling & Well Construction (E&P Operator-led) (EUALAAAD)
akta.pro secondary industry
Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)

Keywords

  • Crude oil production
  • Natural gas exploration
  • Upstream oil and gas
  • Shale hydrocarbon development
  • Onshore energy production

Where Whiting Petroleum Corporation is headquartered

Location

Headquarters

HQ city
Houston
HQ country
United States
HQ region
North America

Markets served

Whiting Petroleum Corporation business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Operations, Infrastructure, Personnel, Supply Chain

Whiting Petroleum Corporation product offering

Product offering

Core offering

Whiting Petroleum Corporation is an independent U.S. upstream oil and gas company engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids from onshore basins in the United States. Its core operations center on the Williston Basin (Bakken/Three Forks) and the DJ Basin (Niobrara), producing hydrocarbons that are sold to refiners, pipeline operators, and commodity purchasers.

Differentiator

Problem solved

Functional benefit

Products and services

  • Crude Oil Production
  • Natural Gas Production
  • Natural Gas Liquids (NGLs) Production

Companies that use Whiting Petroleum Corporation

Customer profile

Ideal customer profiles1 record

Whiting Petroleum Corporation technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Whiting Petroleum Corporation partnerships and signals

Strategic signal

Recent moves5 records

Expansion highlights3 records

Whiting Petroleum Corporation competitors and assessment

Company assessment

Broad incumbents

  • Devon Energy: Large-cap US independent E&P with significant shale operations across multiple basins. Directly comparable upstream business model with broader product mix.
  • Pioneer Natural Resources: Major independent E&P historically focused on the Permian/Delaware. Comparable pure-play shale model and US-centric upstream exposure (acquired by ExxonMobil in 2024).
  • EOG Resources: Largest US independent E&P with multi-basin exposure including the Bakken. Comparable pure-play upstream model with greater geographic diversification.
  • Marathon Oil: Independent E&P with significant Bakken and Eagle Ford positions pre-merger. Highly comparable US shale operating model prior to the 2024 ConocoPhillips transaction.
  • Murphy Oil: Independent E&P with onshore US exposure including Eagle Ford. Comparable upstream scale and US shale specialization outside of large-cap diversified players.

Direct peers

  • Hess Corporation: Independent operator with material Bakken production alongside offshore assets. Directly comparable upstream scale and shale decline economics.
  • Continental Resources: Largest independent operator in the Bakken/Williston Basin. Directly comparable upstream tight-oil asset base and capital-intensive operating model to Whiting.
  • Chord Energy (formerly Oasis Petroleum): Bakken-focused independent E&P that acquired Whiting Petroleum in 2022. Near-identical Williston Basin footprint and pure-play US shale model.

Regional players

  • Civitas Resources: Denver-based pure-play US shale operator focused on the DJ and Powder River basins. Comparable independent E&P model with overlapping US shale and Denver cultural base.

Emerging players

  • Northern Oil and Gas: Bakken and US shale non-operating mineral and leasehold holder. Structurally smaller and non-op, but direct basin overlap (Williston) makes it a partial comparable to Whiting's core footprint.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Whiting Petroleum Corporation social profiles

Digital presence

Whiting Petroleum Corporation financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Whiting Petroleum Corporation leadership team

Management profile

Number of profiles

Profiles8 records

Whiting Petroleum Corporation funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Whiting Petroleum Corporation M&A and investment

M&A and investment

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Whiting Petroleum Corporation

What does Whiting Petroleum Corporation do?

Whiting Petroleum Corporation is an independent U.S. upstream oil and gas company engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids from onshore basins in the United States. Its core operations center on the Williston Basin (Bakken/Three Forks) and the DJ Basin (Niobrara), producing hydrocarbons that are sold to refiners, pipeline operators, and commodity purchasers.

Is Whiting Petroleum Corporation a public or private company?

Whiting Petroleum Corporation is a private company. It is classified as public.

When was Whiting Petroleum Corporation founded?

Whiting Petroleum Corporation was founded in 1980. It employs 501 to 1,000 people.

Where is Whiting Petroleum Corporation based?

Whiting Petroleum Corporation is headquartered in Houston, United States, in the North America region.

Who are Whiting Petroleum Corporation's main competitors?

Broad incumbents on record are Devon Energy, Pioneer Natural Resources, EOG Resources, Marathon Oil and Murphy Oil. Direct peers are Hess Corporation, Continental Resources and Chord Energy (formerly Oasis Petroleum). Civitas Resources is listed as a regional player. Northern Oil and Gas is listed as an emerging player.

Does Whiting Petroleum Corporation have an API?

No public API is recorded for Whiting Petroleum Corporation.

What industry is Whiting Petroleum Corporation in?

Whiting Petroleum Corporation's product category is Upstream Oil and Gas Production. Its primary akta.pro industry code is EUALAAAD, Drilling & Well Construction (E&P Operator-led), with a secondary code of EUALAAAF, Production Operations & Well Optimization (Artificial Lift, Flow Assurance). Its NAICS code is 21112 and its SIC code is 1311.

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Live signals
PR NewswireChord Energy Releases 2022 Sustainability ReportChord Energy Corporation released its inaugural 2022 Sustainability Report, marking the first such disclosure since the merger of Oasis Petroleum Inc. and Whiting Petroleum Corporation formed the company on July 1, 2022. The report highlights significant environmental achievements including a 53% decrease in operated Scope 1 GHG emissions intensity and a 47% reduction in operated methane emissions intensity since 2019, along with safety improvements of 47% year-over-year reduction in total recordable incident rate. The report was informed by stakeholders and aligns with multiple ESG frameworks including TCFD, SASB, and GRI standards.PR NewswireChord Energy Announces Updated Return of Capital Plan, Including Increasing Base Dividend by 114%, Issues an Updated Outlook and Reports Second Quarter 2022 EarningsChord Energy Corporation announced an updated return of capital plan featuring an 114% increase in its base dividend and a new $300 million share repurchase program, following the merger of Oasis Petroleum and Whiting Petroleum. The company also reported second quarter 2022 financial results for legacy Oasis, including net income from continuing operations of $130.8 million and adjusted free cash flow of $202.9 million.ChordenergyWhiting and Oasis Complete Combination, Establishing Chord EnergyChord Energy Corporation has completed the merger of Whiting Petroleum and Oasis Petroleum, creating a new unconventional U.S. oil producer with operations in the Williston Basin. The combined entity will trade under the ticker CHRD on NASDAQ and features an enhanced balance sheet with a net debt to EBITDAX ratio of approximately 0.2x. The transaction is expected to generate at least $65 million in annual cost savings by late 2023.PR NewswireWLL SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Whiting Petroleum Corp. and Encourages Current Stockholders to Contact the FirmKaskela Law LLC announced an investigation into Whiting Petroleum Corp. regarding the company's announced merger with Oasis Petroleum Inc., seeking to determine whether the deal terms adequately maximized value for Whiting shareholders. The proposed deal terms offer Whiting shareholders 0.5774 shares of Oasis common stock plus $6.25 in cash per share. The investigation will examine whether Whiting and its representatives violated securities laws or breached fiduciary duties, and whether potential conflicts of interest were properly disclosed to shareholders.PR NewswireWHITING PETROLEUM INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Merger of Whiting Petroleum Corporation - WLLLaw firm Kahn Swick & Foti, LLC announced an investigation into the proposed merger between Whiting Petroleum Corporation and Oasis Petroleum Inc., with Whiting shareholders set to receive $6.25 cash plus 0.5774 shares of Oasis per share. The firm is examining whether the merger terms adequately value Whiting or whether the transaction undervalues the company and its shareholders. Interested parties may contact KSF Managing Partner Lewis S. Kahn or visit the firm's website for more information on the investigation.PR NewswireOil & Gas Industry Merger & Acquisitions Deals Totaled $14.5 Billion Globally For Last Month AloneGlobal oil and gas M&A activity reached $14.5 billion in the last month of February 2022, representing a 54% year-over-year increase, while full-year 2021 deal value totaled $269 billion. Key industry transactions include Whiting Petroleum's merger with Oasis Petroleum for approximately $6 billion, APA Corporation's $1 billion asset divestiture, and Occidental Energy's partnership with SK Trading International to produce net-zero oil.ThedealWhiting, Oasis Finally Link Up in BakkenWhiting Petroleum Corp. and Oasis Petroleum Inc. announced on March 7 they will combine through a merger to create a $6 billion company, with Whiting shareholders receiving 0.5774 shares of Oasis common stock plus $6.25 in cash per share and a special $15 dividend to Oasis shareholders. The combined entity will be 53% owned by Whiting shareholders and 47% by Oasis shareholders, headquartered in Houston with a Denver office, and is expected to hold 972,000 net acres in the Williston Basin producing 167,800 barrels of oil equivalent per day. The deal, subject to shareholder approval, has backing from major Oasis shareholder Kimmeridge Energy Management, which called the consolidation a necessary response to the sector's sustainability and scale pressures.PR NewswireSHAREHOLDER ALERT: Weiss Law Investigates Whiting Petroleum CorporationWeiss Law is investigating a proposed merger in which Whiting Petroleum Corporation would combine with Oasis Petroleum Inc. in a transaction valued at approximately $6 billion, with Whiting shareholders receiving 0.5774 Oasis shares plus $6.25 in cash per share, representing $91.53 per share, and resulting in Whiting shareholders owning 53% of the combined entity while Oasis shareholders receive a $15 special dividend. The law firm is examining whether Whiting's board breached fiduciary duties by agreeing to terms that adequately compensate shareholders and whether full disclosure regarding the sales process and valuation was made.PR NewswireShareholder Alert: Ademi LLP investigates whether Whiting Petroleum Corporation has obtained a Fair Price in its transaction with Oasis.Ademi LLP is investigating Whiting Petroleum Corporation for potential breaches of fiduciary duty regarding its merger transaction with Oasis. The law firm alleges that the deal offers an unfair price to shareholders and includes restrictive provisions that limit competing bids while providing substantial benefits to insiders.PR NewswireSHAREHOLDER NOTICE: Halper Sadeh LLP Investigates CNR, WLL, VEC, OASHalper Sadeh LLP, an investor rights law firm, announced investigations into four pending corporate transactions for potential violations of federal securities laws and breaches of fiduciary duties to shareholders. The investigated transactions include Cornerstone Building Brands' sale to Clayton, Dubilier & Rice for $24.65 per share, Whiting Petroleum's sale to Oasis Petroleum, and Vectrus's merger with The Vertex Company. The law firm is soliciting affected shareholders to contact them regarding their legal rights and options.