James J. Volker, Whiting's Chairman, President and CEO, commented, "The price received for these properties, which are largely non-operated, highlights the quality of Whiting’s Bakken/Three Forks assets. The Fort Berthold properties represent only approximately 7% of Whiting’s second quarter total production. The sale provides Whiting additional liquidity to develop its industry-leading properties across the Williston Basin, where the Company estimates it has 4850 future gross drilling locations.”
The properties span 29 637 net acres, 29 non-operated drilling spacing units and 17 operated. Net daily production from the properties averaged 7785 boe/d in the second quarter of 2017. Lease operating expense (LOE) for the properties averaged approximately US$12.60 per BOE for the 12 months ending June 30, 2017. Whiting’s other operated Bakken production averaged US$7.50 per BOE.
