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Whiting Gets Partner To Help Drill/Complete Bakken Wells
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Whiting's production in the first quarter 2016 totaled 13.4 million barrels of oil equivalent (MMBOE), an average of 146,770 barrels of oil equivalent per day (BOE/d), which was comprised of 87% crude oil/natural gas liquids (NGLs).
Joint Venture/ PartnershipOn April 14, 2016, Whiting entered into a wellbore participation agreement with a private party who will pay 65% of drilling and completion costs to earn a 50% working interest in 44 gross Williston Basin wells. Because of this agreement, we plan to complete 44 additional wells in the Williston Basin in 2016 and are increasing our 2016 production forecast without changing our capital expenditure guidance.
James J. Volker, Whiting's Chairman, President and CEO, commented, "During the first quarter, we improved our balance sheet and…
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