Whiting Petroleum Corp

(WLL)

Whiting Petroleum Corporation is a Denver based independent oil and gas company that acquires, exploits, develops and explores for crude oil, natural gas and natural gas liquids primarily in the Permian, Rocky Mountain, Mid-Continent, Gulf Coast and Michigan basins of the United States. The Company trades publicly under the symbol WLL on the New York Stock Exchange.

Prior to 2006, Whiting emphasized the acquisition of properties that increased production levels and provided upside potential through further development. From 2004 to 2008, the Company completed $1.82 billion of producing property acquisitions in 13 transactions covering estimated proved reserves of 226.9 MMBOE, as of the effective dates of the acquisitions. Whiting's experienced team of management, engineering and geoscience professionals designed and executed this program to increase reserves and complement its existing properties.

Since 2006, Whiting has focused primarily on organic drilling activity and on the development of previously acquired properties, specifically on projects that it believes could provide the opportunity for repeatable success and production growth.

During 2008, the Company invested $1,386.1 million in acquisition, development and exploration activities, including $947.4 million for the drilling of 308 gross (125.7 net) wells. Of these new wells, 115.2 (net) resulted in productive completions and 10.5 (net) were unsuccessful, yielding a 92% success rate.