The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from PR Newswire

Whiting Petroleum Corporation Acquires 90,174 Net Acres in the Montana Portion of the Williston Basin

Tuesday, September 07, 2010

Whiting Petroleum Corporation Acquires 90,174 Net Acres in the Montana Portion of the Williston Basin09:00 EDT Tuesday, September 07, 2010Acreage Prospective in the Bakken and Three Forks FormationsDENVER, Sept. 7 /PRNewswire/ -- Whiting Petroleum Corporation (NYSE: WLL) today announced that it acquired oil and gas leasehold interests covering 111,966 gross acres (90,174 net acres) in the Montana portion of the Williston Basin from undisclosed sellers.  The Company believes that the acquired properties are prospective in both the Bakken and Three Forks formations.  The undeveloped leasehold acreage is located in Roosevelt and Sheridan Counties within Whiting's Starbuck Prospect area.President and CEO, James J. Volker, commented, "We are very pleased with this addition to our acreage position in the Williston Basin.  This acquisition brings our total net acreage in the Bakken and Three Forks Hydrocarbon System (BTFHS) of North Dakota and Montana to 532,266 net acres."About Whiting Petroleum CorporationWhiting Petroleum Corporation, a Delaware corporation, is an independent oil and gas company that acquires, exploits, develops and explores for crude oil, natural gas and natural gas liquids primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast and Michigan regions of the United States.  The Company's largest projects are in the Bakken and Three Forks plays in North Dakota and its Enhanced Oil Recovery fields in Oklahoma and Texas.  The Company trades publicly under the symbol WLL on the New York Stock Exchange.  For further information, please visit www.whiting.com.Forward-Looking StatementsThis news release contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding whether certain properties are prospective in certain formations, are forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. These risks and uncertainties include, but are not limited to: our level of success in exploitation, exploration, development and production activities; the timing of our exploration and development expenditures, including our ability to obtain CO2; and other risks described under the caption "Risk Factors" in our Annual Report on Form 10-K for the period ended December 31, 2009. We assume no obligation, and disclaim any duty, to update the forward-looking statements in this news release.SOURCE Whiting Petroleum CorporationFor further information: John B. Kelso, Director of Investor Relations of Whiting Petroleum Corporation, +1-303-837-1661, john.kelso@whiting.com