Whiting Petroleum Corporation (OLL)

[OilStockReport]

Whiting said it stopped the leak yesterday afternoon and the well was now shut-in and secure. The well had been leaking since Saturday after a valve near the wellhead failed resulting in water, oil and gas flowing from the well.

While Whiting did not release a final figure on the amount of fluid leaked, on Monday it said about 5639 barrels of water and 420 barrels of oil had been hauled to a disposal facility.

At the time it also said the well had, by then, declined to about 25% of its initial flow rate and was estimated to be flowing 50 – 70 barrels of fluid per hour, consisting of about 90% water and 10% oil.

No injuries were reported as a result of the incident which occurred in Mountrail County, about eight miles north-west of Newton.

[OilStockReport]

DENVER--(BUSINESS WIRE)-- Whiting Petroleum Corporation is issuing an update on the well incident at the Roggenbuck 14-25H well in North Dakota disclosed in Whiting’s November 21, 2010 press release. As previously disclosed, a valve near the wellhead failed resulting in water, oil and natural gas flowing from the well, with Whiting containing and hauling from the well site the liquids being produced.

Whiting believes that flow of liquids from the well started declining early Sunday morning November 21, 2010. From Saturday afternoon through 6:00 a.m. (CST) Monday, November 22, 2010 approximately 5,630 barrels of water and 420 barrels of oil were hauled to a disposal facility from a lined pit on location where fluids are being collected. Whiting estimates that on Monday flow from the well had declined to approximately 25% of its initial flow rate. Early Monday the well was estimated to be flowing 50 – 70 barrels of fluid per hour: 90% water and 10% oil. All fluids continue to be collected and hauled to a disposal facility.

Personnel from Whiting, Whiting contractors and Wild Well Control, Inc. are progressing with operations to control the flow from the well.

About Whiting Petroleum Corporation

Whiting Petroleum Corporation, a Delaware corporation, is independent oil and gas company that acquires, exploits, develops and explores for crude oil, natural gas and natural gas liquids primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast and Michigan regions of the United States. The Company’s largest projects are in the Bakken and Three Forks plays in North Dakota and its Enhanced Oil Recovery fields in Oklahoma and Texas. The Company trades publicly under the symbol WLL on the New York Stock Exchange. For further information, please visit www.whiting.com.