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Whiting Petroleum Corporation Announces Results Of Exchange Offer Relating To Outstanding, Unregistered 5.750% Senior Notes Due 2021

Whiting Petroleum Corporation (NYSE: WLL) today announced the results of its offer to exchange (the “Exchange Offer”) all of its outstanding, unregistered 5.750% Senior Notes due 2021 (CUSIP Nos. 966387AJ1 and U9650FAC1) (the "Original Notes") issued September 26, 2013, for new, registered 5.750% Senior Notes due 2021 (CUSIP No. 966387AH5) (the "New Notes"), which are an additional issuance of and will be fully fungible and form a single series voting together as one class with the $800 million aggregate principal amount of its 5.750% Senior Notes due 2021 issued on September 12, 2013. Whiting has been advised by The Bank of New York Mellon Trust Company, N.A., the exchange agent for the Exchange Offer, that, as of 5:00 p.m., New York City time, December 13, 2013 (the “Expiration Date”), holders of 100% of the $400 million aggregate principal amount of Original Notes had validly tendered pursuant to the terms of the Exchange Offer. The settlement date for the Exchange Offer is expected to occur on December 16, 2013.

Under the terms of the Exchange Offer, eligible holders of the Original Notes who had validly tendered at or before the Expiration Date will receive, for each $1,000 principal amount of the Original Notes tendered, $1,000 principal amount of the New Notes, provided that such Original Notes tendered in the Exchange Offer were in minimum denominations of $2,000 principal amount and any integral multiples of $1,000 in excess thereof.

About Whiting Petroleum Corporation

Whiting Petroleum Corporation, a Delaware corporation, is an independent oil and gas company that explores for, develops, acquires and produces crude oil, natural gas and natural gas liquids primarily in the Rocky Mountain, Permian Basin, Michigan, Gulf Coast and Mid-Continent regions of the United States. The Company’s largest projects are in the Bakken and Three Forks plays in North Dakota and its Enhanced Oil Recovery field in Texas. The Company trades publicly under the symbol WLL on the New York Stock Exchange. For further information, please visit http://www.whiting.com.

Forward-Looking Statements

This news release contains statements that we believe to be "forward-looking statements" within the meaning of section 21E of the Securities Exchange Act of 1934. All statements other than historical facts, including, without limitation, statements regarding our future financial position, business strategy, projected revenues, earnings, costs, capital expenditures and debt levels, and plans and objectives of management for future operations, are forward-looking statements. When used in this news release, words such as we "expect," "intend," "plan," "estimate," "anticipate," "believe" or "should" or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements.

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