Whiting Petroleum Corp. Declines; Announces Two Acquisitions Of Oil And Gas Assets

(RTTNews) - Shares of Whiting Petroleum Corporation (WLL) are down more than 5% Tuesday morning after the company announced two separate acquisitions of oil and gas assets in the Williston Basin of North Dakota for a total cash consideration of $273 million.

The assets include 14,563 net acres, 4 gross/0.2 net drilled and uncompleted well interests, and 277 gross/32 net undrilled locations.

The assets are expected to contribute about 4,500 barrels of oil equivalent per day at closing.

The smaller transaction closed in the fourth quarter of 2021, and the larger acquisition is scheduled to close in the first quarter of 2022, Whiting Petroleum said.

WLL, currently at $72.77, has traded in the range of $26.10- $79.97 in the past 52 weeks.