Whiting Petroleum Declares Second Quarter Dividend on Common Shares

Rhea-AI Summary

Whiting Petroleum Corporation (NYSE: WLL) has announced a quarterly cash dividend of $0.25 per share on its common stock. This dividend is payable on June 1, 2022, to stockholders of record as of the close of business on May 20, 2022. The company engages in the development, production, and acquisition of crude oil and natural gas, mainly in the Rocky Mountains, with significant operations in North Dakota and Montana.

Positive

• Quarterly cash dividend of $0.25 per share announced.
• Confidence in maintaining dividend payments as part of shareholder returns.

Negative

• Future dividends are not guaranteed and depend on various economic factors.

DENVER--(BUSINESS WIRE)-- Whiting Petroleum Corporation (NYSE: WLL) (“Whiting” or the “Company”) announced today that its Board of Directors declared a quarterly cash dividend of $0.25 per share on Whiting’s outstanding common stock. The dividend is payable June 1, 2022, to stockholders of record at the close of business on May 20, 2022.

About Whiting Petroleum Corporation

Whiting Petroleum Corporation, a Delaware corporation, is an independent oil and gas company engaged in the development, production and acquisition of crude oil, NGLs and natural gas primarily in the Rocky Mountains region of the United States. The Company’s largest projects are in the Bakken and Three Forks plays in North Dakota and Montana. The Company trades publicly under the symbol WLL on the New York Stock Exchange. For further information, please visit http://www.whiting.com.

Forward-Looking Statements

This news release contains statements that we believe to be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than historical facts are forward-looking statements. Words such as “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe” or “should” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements, including the risks described under the caption “Risk Factors” in Item 1A of our Annual Report on Form 10-K for the period ended December 31, 2021, as amended.

There can be no guarantee that we will pay additional dividends in the future. The board of directors’ decisions regarding future dividends will be based on legal, economic and other considerations the board considers relevant at the time such decisions are made. We assume no obligation, and disclaim any duty, to update the forward-looking statements in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220414005332/en/

Company Contact: Brandon Day

Title: Investor Relations Director

Phone: 303‑837‑1661

Email: Brandond@whiting.com

Source: Whiting Petroleum Corporation

FAQ

What is the dividend amount declared by WLL?

Whiting Petroleum declared a dividend of $0.25 per share.

When is the WLL dividend payable?

The WLL dividend is payable on June 1, 2022.

When is the record date for WLL dividend?

The record date for the dividend is May 20, 2022.

Is the WLL dividend sustainable?

The company's board will decide future dividends based on various legal and economic considerations.