Acquisitions & Divestitures

Whiting Petroleum to Exit D-J Basin in A&D Double Play

Whiting Petroleum entered into separate definitive agreements totaling $458 million to acquire Williston Basin assets in North Dakota and divest all its oil and gas assets in the D-J Basin of Colorado.

Emily

Patsy

Hart Energy

Wed, 07/21/2021 - 03:50 PM

Whiting Petroleum to Exit D-J Basin in A&D Double Play

The two transactions result in a “significantly deeper drilling inventory” in Whiting’s key Sanish operating area in the Williston Basin, while divesting of properties in Colorado that were not going to compete internally for capital, said President and CEO Lynn A. Peterson. (Source: Hart Energy)

Whiting Petroleum Corp. is wishing its home state of Colorado goodbye in an A&D double play disclosed by the Denver-based company on July 21.

In a company release, Whiting said it had entered into separate definitive agreements totaling $458 million to acquire oil and gas assets in the Williston Basin of North Dakota and divest all its oil and gas assets in the Denver-Julesburg (D-J) Basin of Colorado.

“These two transactions result in a significantly deeper drilling inventory in our key Sanish operating area, while divesting of properties in Colorado that were not going to compete internally for capital,” commented Lynn A. Peterson, president and CEO of Whiting, in the company release.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.

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