Whiting Petroleum Corporation
Whiting Petroleum Corporation is an American petroleum and natural gas exploration and production company headquartered in Denver, Colorado.
As of December 31, 2015, the company had 820 million barrels of oil equivalent of estimated proved reserves, of which 73% was petroleum and 27% was natural gas. Of these reserves, 85% were located in the Rocky Mountains and 15% were located in the Permian Basin.
In the Rocky Mountain region, the company is focused on the Niobrara region of Colorado and the Bakken formation and Three Forks Shale of Montana and North Dakota. In the Permian Basin, the company uses a technique called enhanced oil recovery, which uses carbon dioxide flooding to extract oil. As a result of a decline in petroleum prices in 2015, Whiting determined that producing oil at its properties using enhanced oil recovery, which involves a higher production cost, was not economic.
As You Sow has engaged with Whiting Petroleum on issues related to hydraulic fracturing.
STATUS: Withdrawn; Company will address
BE IT RESOLVED:
Shareholders request the Board of Directors report to shareholders, using quantitative indicators, the results of company policies and practices, above and beyond regulatory requirements, to minimize the adverse environmental and community impacts from the company’s hydraulic fracturing operations associated with shale formations. Such report should be prepared at reasonable cost, omitting confidential information.