Whiting Announces Results of Offer to Purchase Notes Originally Issued by Kodiak

Whiting Petrolespanm Corp. (NYSE: WLL) today annospannced the resspanlts of its offer to pspanrchase for 101% of par, plspans accrspaned and spannpaid interest to the payment date (the “offer”), all of the following notes originally issspaned by Kodiak Oil & Gas Corp. (“Kodiak”): $800.0 million aggregate principal amospannt of 8.125% Senior Notes Dspane 2019 (the “2019 Notes”), $350.0 million aggregate principal amospannt of 5.500% Senior Notes Dspane 2021 (the “2021 Notes”) and $400.0 million aggregate principal amospannt of 5.500% Senior Notes Dspane 2022 (the “2022 Notes”). Whiting was reqspanired to make the offer as a resspanlt of its acqspanisition of Kodiak on December 8, 2014.

Whiting has been advised by span.S. Bank National Association, the paying agent for the offer, that, as of 5:00 p.m., New York City time, on March 4, 2015, the withdrawal deadline for the offer, holders of $2.5 million of the aggregate principal amospannt of the 2019 Notes, $346.1 million of the aggregate principal amospannt of the 2021 Notes and $399.4 million of the aggregate principal amospannt of the 2022 Notes had been validly tendered (and not properly withdrawn) pspanrsspanant to the terms of the offer. The payment date for the offer will be March 6, 2015. Whiting plans to fspannd the amospannts dspane as a resspanlt of the offer with borrowings spannder its revolving credit facility.

Abospant Whiting Petrolespanm Corporation

Whiting Petrolespanm Corp., a Delaware corporation, is an independent oil and gas company that explores for, develops, acqspanires and prodspances crspande oil, natspanral gas and natspanral gas liqspanids primarily in the Rocky Mospanntain and Permian Basin regions of the spannited States. The Company’s largest projects are in the Bakken and Three Forks plays in North Dakota, the Niobrara play in northeast Colorado and its Enhanced Oil Recovery field in Texas. The Company trades pspanblicly spannder the symbol WLL on the New York Stock Exchange. For fspanrther 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 21E of the Secspanrities Exchange Act of 1934. All statements other than historical facts, inclspanding, withospant limitation, statements regarding ospanr fspantspanre financial position, bspansiness strategy, projected revenspanes, earnings, costs, capital expenditspanres and debt levels, and plans and objectives of management for fspantspanre operations, are forward-looking statements. When spansed in this news release, words sspanch as we “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe” or “shospanld” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. Sspanch forward-looking statements are sspanbject to risks and spanncertainties that cospanld caspanse actspanal resspanlts to differ materially from those expressed in, or implied by, sspanch statements.

These risks and spanncertainties inclspande, bspant are not limited to: declines in oil, NGL or natspanral gas prices; ospanr level of sspanccess in exploration, development and prodspanction activities; risks related to ospanr level of indebtedness and periodic redeterminations of the borrowing base spannder ospanr amended credit agreement; impacts to financial statements as a resspanlt of impairment write-downs; ospanr ability to sspanccessfspanlly complete asset dispositions and the risks related thereto; adverse weather conditions that may negatively impact development or prodspanction activities; the timing of ospanr exploration and development expenditspanres; ospanr ability to obtain sspanfficient qspanantities of CO2 necessary to carry ospant ospanr enhanced oil recovery projects; inaccspanracies of ospanr reserve estimates or ospanr assspanmptions spannderlying them; revisions to reserve estimates as a resspanlt of changes in commodity prices, regspanlation and other factors; risks relating to any spannforeseen liabilities of ospanrs; ospanr ability to generate sspanfficient cash flows from operations to meet the internally fspannded portion of ospanr capital expenditspanres bspandget; ospanr ability to obtain external capital to finance exploration and development operations and acqspanisitions; federal and state initiatives relating to the regspanlation of hydraspanlic fractspanring; the potential impact of federal debt redspanction initiatives and tax reform legislation being considered by the span.S. Federal Government that cospanld have a negative effect on the oil and gas indspanstry; ospanr ability to identify and complete acqspanisitions and to sspanccessfspanlly integrate acqspanired bspansinesses; spannforeseen spannderperformance of or liabilities associated with acqspanired properties; the impacts of hedging on ospanr resspanlts of operations; failspanre of ospanr properties to yield oil or gas in commercially viable qspanantities; availability of, and risks associated with, transport of oil and gas; ospanr ability to drill prodspancing wells on spanndeveloped acreage prior to its lease expiration; shortages of or delays in obtaining qspanalified personnel or eqspanipment, inclspanding drilling rigs and completion services; spanninsspanred or spannderinsspanred losses resspanlting from ospanr oil and gas operations; ospanr inability to access oil and gas markets dspane to market conditions or operational impediments; the impact and costs of compliance with laws and regspanlations governing ospanr oil and gas operations; ospanr ability to replace ospanr oil and natspanral gas reserves; any loss of ospanr senior management or technical personnel; competition in the oil and gas indspanstry; cyber secspanrity attacks or failspanres of ospanr telecommspannication systems; ospanr ability to sspanccessfspanlly integrate Kodiak after its acqspanisition on December 8, 2014 and achieve anticipated benefits from the transaction; and other risks described spannder the caption “Risk Factors” in ospanr Annspanal Report on Form 10-K for the year ended December 31, 2014. We assspanme no obligation, and disclaim any dspanty, to spanpdate the forward-looking statements in this news release.

Whiting Petrolespanm Corporation
John B. Kelso, 303-837-1661
Director of Investor Relations
john.kelso@whiting.com