Exploration & Production | Reserves
Whiting Ups Proved Reserves 29% to 780 MMBOE
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Whiting Petroleum Corporation's proved reserves, effective December 31, 2014, increased to an estimated 780 million barrels of oil equivalent (MMBOE) of which 83% were classified as oil and 90% were classified as oil and natural gas liquids.
After replacing 2014 production, this represents a 29% increase over the year-end 2013 combined total for Whiting and Kodiak Oil & Gas Corp. of 606 MMBOE. Whiting's reserves, including those acquired in the Kodiak acquisition, were independently engineered by Cawley, Gillespie & Associates, Inc.
James J. Volker, Whiting's Chairman, President and CEO, commented, "The 29% growth in our reserves underpins our strong financial position. Accordingly, on December 19, 2014 our bank syndicate increased our credit commitments to $4.5 billion reflecting our…
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