Whiting USA Trust I (NYSE: WHX) announced the fourth Trust distribution in 2011, which relates to net profits generated during the third quarterly payment period of 2011.

Unitholders of record on November 19, 2011 will receive a distribution amounting to $10,132,645 or $0.730866 per unit, which is payable on or before November 29, 2011.

Volumes, price and net profits for the quarterly payment period were:
Sales Volumes:  
Oil (Bbls) 193,045
Natural Gas (Mcf)   751,194  
Total (BOE) 318,244
Average Sales Prices:
Oil (per Bbl) $ 80.01
Natural gas (per Mcf) $ 4.47
Gross Proceeds:
Oil Sales $ 15,446,438
Natural Gas Sales   3,359,097  
Total Gross Proceeds $ 18,805,535  
Lease Operating Expenses $ 6,726,063
Production Taxes 1,363,746
Realized Gains on Hedging Settlements   (806,451 )
Total Costs $ 7,283,358  
Net Profits $ 11,522,177
Percentage allocable to Trust’s Net Profits Interest   90 %
Total cash available for the Trust $ 10,369,959
Provision for estimated Trust expenses (175,000 )
Montana state income taxes withheld   (62,314 )
Net cash proceeds available for distribution $ 10,132,645
Trust units outstanding   13,863,889  
Cash distribution per Trust unit $ 0.730866  

This press release contains forward-looking statements, including all statements made in this press release other than statements of historical fact. No assurances can be given that such statements will prove to be correct. The announced distributable amount is based, in part, on the amount of cash received or expected to be received by the Trust from Whiting Petroleum Corporation pursuant to the net profits interest with respect to the relevant quarterly period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust, fluctuations in oil and natural gas prices, uncertainty of estimates of oil and natural gas reserves and production, risks inherent in operation and production of oil and gas properties and future production costs. Statements made in this press release are qualified by the cautionary statements made in this press release. The Trustee does not intend, and assumes no obligation, to update any of the statements included in this press release.

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