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Whiting Petroleum Corporation Announces Second Quarter 2013 Financial And Operating Results

Western Williston Basin

The Western Williston Basin includes our Hidden Bench, Tarpon, Missouri Breaks and Cassandra prospects. These areas represent a total of 171,408 gross (106,952 net) acres. Production from the Western Williston Basin averaged 9,385 BOE/d in the second quarter of 2013, which represented a 44% increase over the 6,520 BOE/d average rate in the first quarter of 2013.

Missouri Breaks Prospect. We hold 84,213 gross (57,526 net) acres in the Missouri Breaks prospect, located in Richland County, Montana and McKenzie County, North Dakota. We have implemented a new completion design in our Missouri Breaks area that utilizes cemented liners and higher sand volumes. The new frac design appears to significantly improve production rates. We recently completed the Weber 24-30-1H flowing at a rate of 1,164 BOE/d using our new completion design. This well offset the Mullin 21-24-1H, which tested at a rate of 481 BOE/d and was completed using our prior frac design, an uncemented liner with sliding sleeve technology.

Southern Williston Basin

The Southern Williston Basin encompasses our Pronghorn and Lewis & Clark prospects, which encompass a total of 395,441 gross (262,630 net) acres. Production from the Southern Williston averaged 13,325 BOE/d, relatively flat with first quarter 2013 production and up 30% year-over-year. We have been shifting to pad drilling in the Pronghorn area in the first half of 2013 and have generated a backlog of uncompleted wells. As of quarter end, we had 13 wells being completed or waiting on completion at our Pronghorn prospect.

Sanish Field Area

Whiting’s net production from the Sanish field area averaged 36,315 BOE per day in the second quarter of 2013 compared to 35,805 BOE/d in the first quarter 2013. The increase was in part attributable to a higher density drilling program at the Parshall field. We have initiated our higher density pilot project in the Sanish field. If successful, this could add 191 gross well locations.

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