Whiting Petroleum Corporation was a U.S. independent exploration and production company focused on unconventional oil and gas development in the Williston Basin, primarily the Bakken and Three Forks formations of North Dakota and Montana. Its portfolio produced crude oil, natural gas liquids (NGLs), and natural gas, with output delivered into regional pipeline and refining networks.
The company completed a financial restructuring during the 2020 industry downturn and, in 2022, merged with Oasis Petroleum to form Chord Energy Corporation (NASDAQ: CHRD). Following this transaction, Whiting ceased to operate as a standalone entity; Chord Energy is the corporate successor, continuing to concentrate on the Williston Basin.
Relevance to the chemical value chain: Whiting’s legacy production—and that of its successor—provides crude feedstock to refineries and NGL streams (including ethane, propane, and butanes) that are fractionated and used in petrochemical manufacturing and fuels blending across North America.
Q3 saw $7.8bn cash flow, $2.2bn RC profit. Upstream reliability at 96.8%, refining at 96.6%. $4bn+ divestments expected, $14.5bn capex on track. Net debt stable at $26.1bn.
