The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

Whiting Petroleum Corporation Provides Update on Well Incident in Mountrail County, North Dakota

Monday, November 22, 2010

Whiting Petroleum Corporation Provides Update on Well Incident in Mountrail County, North Dakota09:25 EST Monday, November 22, 2010 DENVER (Business Wire) -- Whiting Petroleum Corporation is issuing an update on the well incident at the Roggenbuck 14-25H well in North Dakota disclosed in Whiting's November 21, 2010 press release. As previously disclosed, a valve near the wellhead failed resulting in water, oil and natural gas flowing from the well, with Whiting containing and hauling from the well site the liquids being produced. Whiting believes that flow of liquids from the well started declining early Sunday morning November 21, 2010. From Saturday afternoon through 6:00 a.m. (CST) Monday, November 22, 2010 approximately 5,630 barrels of water and 420 barrels of oil were hauled to a disposal facility from a lined pit on location where fluids are being collected. Whiting estimates that on Monday flow from the well had declined to approximately 25% of its initial flow rate. Early Monday the well was estimated to be flowing 50 – 70 barrels of fluid per hour: 90% water and 10% oil. All fluids continue to be collected and hauled to a disposal facility. Personnel from Whiting, Whiting contractors and Wild Well Control, Inc. are progressing with operations to control the flow from the well. About Whiting Petroleum Corporation Whiting Petroleum Corporation, a Delaware corporation, is 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 Forward-Looking Statements This 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 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: Whiting's ability to continue to contain the liquids flowing from the Roggenbuck 14-25H well; the amount of costs Whiting may incur to control and shut in the Roggenbuck 14-25H well; any actions that governmental authorities may take with respect to Whiting, including imposing fines or penalties; Whiting's ability to control and shut in the well without injuries or damages; and other risks described in our prospectus supplement, dated September 21, 2010 filed with the SEC. We assume no obligation, and disclaim any duty, to update the forward-looking statements in this news release. Whiting Petroleum CorporationJack R. Ekstrom, Vice President of Corporate and Government Relations303-803-5465jack.ekstrom@whiting.comorJohn B. Kelso, Director of Investor