Whiting Petroleum Corporation

Whiting Petroleum Corporation

Whiting Petroleum Corporation

Overview
Date Founded

2003

Headquarters

1700 BROADWAY SUITE 2300, DENVER, CO, 80290

Type of Company

Public

Employees (Worldwide)

405

Industries

Oil & Gas
Pension Funds & Sovereign Wealth

Company Description

Whiting Petroleum Corp. engages in the development, production, acquisition, and exploration of oil and gas properties. It operates in the Rocky Mountains regions. The company was founded by Kenneth R. Whiting and J. Bert Ladd in January 1980 and is headquartered in Denver, CO.

Contact Data
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Executives & Employees

President & Chief Executive Officer

Executive Vice President Finance & Chief Financial Officer

Executive Vice President, Operations & Chief Operating Officer

Vice President, Legal, General Counsel & Secretary

Vice President, Accounting & Controller

Senior Vice President, Planning & Reservoir Engineering

Vice President of Planning

Vice President, Information Technology

Vice President, Business Development & ESG

Vice President of Land

Board of Directors

Co-Founder at KA Fund Advisors LLC

President & Chief Executive Officer at Whiting Petroleum Corporation

Director-TriCities Chapter at National Association of Corporate Directors - North Texas Chapter

Former Vice Chairman & Managing Partner-Mid America at Deloitte LLP

Former Senior Vice President at Noble Energy, Inc.

Former Vice President, Chief Financial Officer, Treasurer & Secretary at Cimarex Energy Co.

Chief Executive Officer & Director at Rice Acquisition Corp. II

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Owners & Shareholders
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Sourcerock Group LLC is an American private company located in Chicago, IL, with a presence in the United States and the Cayman Islands. The firm provides investment advice. It was founded by Christian Zann, he is currently the CEO of the company.

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Encompass generally focuses on investments, both long and short, in the equity and equity-linked securities of companies in the US and abroad in energy and energy-related markets, including natural gas, crude and refined oil products, steel and other metals, chemicals, power, coal, alternative energy, engineering, construction and shipbuilding companies, railroads, airlines and the securities of other companies that are derivative of the energy sector, including industrials, materials, agriculture/food products, the automobile industry and other industries that the firm considers to be derivative of energy. The firm utilizes both fundamental top-down and bottom-up analysis in an attempt to develop a deep, fundamental view of individual companies and sectors.

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SIR Capital Management manages privately-offered hedge funds that focus on investments in energy and related industries. The firm's Hedged Equity Funds aim to achieve superior absolute returns that are not correlated with or dependent upon changes in commodity prices, the S&P 500 Index, energy equity indices or any other equity market index. The core investments usually have a 3 to 6 month expected time horizon. Their Energy Opportunities Funds seeks to achieve long-term capital appreciation and superior risk adjusted returns. The core investments will generally be directionally biased and have a 6- to 36-month expected time horizon. Both funds employ a fundamental bottom-up approach in their investment decision-making process and may invest in a wide variety of market capitalizations of companies involved in exploration and production, refining and marketing, oil field services, drilling, shipping, coal, chemicals, steel, engineering and construction, alternative energy and natural gas processing, transportation and distribution, as well as regulated utilities. They may also invest in MLPs, royalty trusts, ETFs, listed and over-the-counter derivatives, private placements and other securities.

Recent Transactions
Details Hidden

Northern Oil & Gas, Inc. purchases Whiting Petroleum Corp. /North Dakota Williston Basin from Whiting Petroleum Corporation

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Andeavor Logistics LP, Qep Field Services LLC purchase Whiting Petroleum Corp. /Belfield Water Gathering Facilities from Whiting Petroleum Corporation

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Four Corners Petroleum II LLC purchases Whiting Oil & Gas Corp. /North Ward Estes Assets from Whiting Petroleum Corporation

Transaction Advisors
Auditor

Advised onWhiting Petroleum Corporation issued USD Common Stock

Investment Advisor

Advised onWhiting Petroleum Corporation purchases Whiting Canadian Holding Co. ULC

Underwriter

Advised onWhiting Petroleum Corporation issued USD Common Stock

Legal Advisor

Advised onWhiting Petroleum Corporation purchases Whiting Canadian Holding Co. ULC

Legal Advisor

Advised onWhiting Petroleum Corporation purchases Whiting Canadian Holding Co. ULC

Legal Advisor

Advised onWhiting Petroleum Corporation purchases Whiting Canadian Holding Co. ULC

Clients

Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Following its acquisition of Andeavor on October 1, 2018, Marathon Petroleum became the largest petroleum refinery operator in the United States, with 16 refineries and over 3 million barrels per day of refining capacity. Marathon Petroleum ranked No. 41 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company which owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure.

Royal Dutch Shell Plc engages in the oil and natural gas production. It operates through the following segments: Integrated Gas, Upstream, Oil Products, Chemicals and Corporate. The Integrated Gas segment manages liquefied natural gas activities and the conversion of natural gas into gas to liquids fuels and other products. The Upstream segment manages the exploration for and extraction of crude oil, natural gas, and natural gas liquids. The Oil Products segment manages the Refining and Trading, and Marketing classes of business. The Chemicals segment operates manufacturing plants and its own marketing network. The Corporate segment comprises holdings and treasury, self-insurance activities, and headquarters and central functions of the company. The company was founded in February 1907 and is headquartered in The Hague, Netherlands.

Key Stats and Financials As of 2020
Market Capitalization
$2.33B
Total Enterprise Value
$1.32B
Earnings Per Share
$-103.19
Revenue
$732M
EBITDAMargin
35.96%
Net Profit
$-3.93B
Total Equity
$1.23B
EBITDA
$263M
Total Debt
$399M
Three Year Compounded Annual Growth Rate Of Revenue
-20.93%
Debt TEV
0.3x
Enterprise Value / Sales
1.81x
Enterprise Value EBITDAOperating
4.94x
TEVNet Income
-0.34x
Political Donations
$500
2012
$500
2012
Investors
Details Hidden

Chairman of the Board & Chief Executive Officer at Liberty Oilfield Services, Inc.

Suppliers
Pioneer Energy Services Corp. Power & Utilities | San Antonio, Texas

Pioneer Energy Services Corp. engages in the provision of land-based drilling services and production services to oil and gas exploration and production companies. It operates through Drilling and Production Services segments. The Drilling Services segment offers drilling rig, crews, supplies, and most of the ancillary equipment needed to operate drilling rigs. The Production Services segment offers well servicing,wireline and coiled tubing services to producers primarily in Texas and the Mid-Continent and Rocky Mountain regions, as well as in North Dakota, Louisiana and Mississippi. The company was founded in 1968 and is headquartered in San Antonio, TX.

Cypress Environmental Partners LP Power & Utilities | Tulsa, OK

Cypress Environmental Partners LP engages in the provision of essential midstream services. The firm's services include pipeline inspection, integrity and hydrostatic testing services to energy companies and vendors. It operates through the following segments: Pipeline Inspection, Pipeline & Process and Water & Environmental Services. The Pipeline Inspection Services segment provides inspection and integrity services on a variety of infrastructure assets, including midstream pipelines, gathering systems and distribution systems. The Pipeline & Process Services segment provides midstream services including hydrostatic testing services and chemical cleaning related to newly-constructed and existing pipelines and related infrastructure. The Water & Environmental Services segment owns and operates Environmental Protection Agency Class II saltwater disposal facilities in the Williston Basin region of North Dakota. The company was founded by Peter C. Boylan III and Charles C. Stephenson Jr. in March 2012 and is headquartered in Tulsa, OK.

Steel Excel, Inc. Oil & Gas | New York, NY

Company Information Steel Excel, through its two business segments, Steel Storts Inc. and Steel Energy Ltd., is committed to acquiring, strengthening and growing profitable businesses. Steel Sports is a network of branded participatory and experience-based businesses engaged in sports, training, entertainment and consumer lifestyle. Steel Energy provides well servicing, workover and other services to the oil and gas industry.

Competitors
Hess Corp. Oil & Gas - New York, NY

Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream. The Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, natural gas liquids and natural gas. The Midstream segment provides fee-based services including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, primarily in the Bakken shale play of North Dakota. The company was founded by Leon Hess in 1920 and is headquartered in New York, NY.

Continental Resources, Inc. Oil & Gas - Oklahoma City, OK

Continental Resources is a Top 10 petroleum liquids producer in the United States and the largest leaseholder in the nation’s premier oil play, the Bakken Play of North Dakota and Montana. Based in Oklahoma City, the company also has a leading presence in the Anadarko Woodford Play of Oklahoma and the Red River Units Play of North Dakota, South Dakota and Montana. Founded in 1967, Continental’s growth strategy has focused on crude oil since the 1980s. The company reported total revenues of $1.6 billion for 2011 and is on track to triple production and proved reserves from 2009 to 2014.

Oasis Petroleum, Inc. Oil & Gas - Houston, Texas

Oasis Petroleum, Inc. engages in the acquisition, development, and exploration of onshore, unconventional oil and natural gas resources. It operates through the Exploration and Production (E&P), and Midstream segments. The E&P segment acquires and develops oil and gas properties. The Midstream segment performs natural gas gathering, compression, processing, and gas lift supply; crude oil gathering, terminating, and transportation; produced and flowback water gathering and disposal; and freshwater distribution. The company was founded by Thomas B. Nusz and Taylor L. Reid on March 8, 2007 and is headquartered in Houston, TX.

Awards & Honors
Rank #955
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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