Chord Energy
| Company type | Public company |
|---|---|
| Nasdaq: CHRD | |
| Industry | Petroleum industry |
| Founded | July 1, 2022 |
| Headquarters | Houston, Texas, U.S. |
Key people | Daniel E. Brown, President & CEO Michael H. Lou, CFO Susan M. Cunningham, Director |
| Products | Petroleum Natural gas |
Production output | 171 thousand barrels of oil equivalent (1,050,000 GJ) per day (2022) |
| Website | www |
Chord Energy Corporation (formerly Oasis Petroleum) is a company engaged in hydrocarbon exploration and hydraulic fracturing in the Williston Basin in North Dakota and Montana. It is organized in Delaware and headquartered in Houston, Texas, with an office in Williston, North Dakota. Oasis renamed itself to Chord Energy when it merged with Whiting Petroleum in 2022.
History
Oasis Petroleum
In February 2007, Oasis Petroleum was founded by Thomas B. Nusz and Taylor L. Reid and was financed by EnCap Investments.[1] In June 2007, the company acquired 175,000 net acres and 1 thousand barrels of oil equivalent (6,100 GJ) per day of production in Williston, North Dakota for $83 million.[1]
In 2008–2009, Oasis Petroleum acquired an additional 131,000 net acres and 1.1 thousand barrels of oil equivalent (6,700 GJ) per day of production nearby for $54 million.[1]
In 2010, Oasis Petroleum became a public company via an initial public offering which raised over $400 million.[2]
In 2013, Oasis Petroleum acquired 161,000 net acres in the Williston Basin for $1.5 billion.[3]
In 2016, Oasis Petroleum acquired 55,000 net acres and 226 gross operated drilling locations in the Williston Basin from SM Energy for $785 million.[4]
In 2017, Oasis Petroleum completed the corporate spin-off of its midstream operations.[5][6] The same year, Oasis Petroleum acquired 20,300 net acres in the Delaware Basin for $946 million.[7][8][9] It sold these assets in 2021.[10]
In September 2020, Oasis Petroleum filed for Chapter 11 bankruptcy; it emerged from bankruptcy in November 2020.[11][12]
Whiting Petroleum
Whiting Petroleum was founded in 1980 by Kenneth R. Whiting and Bert Ladd.[13]
In 1992, Alliant Energy, a Midwest public utility, acquired Whiting Petroleum for $27.5 million.[14]
In 2003, Whiting Petroleum became a public company via an initial public offering which raised over $400 million.[15]In 2005, the company acquired assets in the North Ward Estes field for $459 million.[16] The property was sold in 2016 for $300 million.
In July 2013, Whiting Petroleum sold assets in the Oklahoma Panhandle to BreitBurn Energy Partners for $846 million.[17] In August 2013, Whiting Petroleum acquired assets in the Williston Basin for $260 million.[18] In 2014, Whiting Petroleum acquired Kodiak Oil & Gas.[19]
In January 2017, Whiting Petroleum sold midstream assets in North Dakota for $375 million.[20][21] In August 2017, Whiting Petroleum sold its assets near the Fort Berthold Indian Reservation in North Dakota for $500 million.[22]
On April 1, 2020, Whiting Petroleum filed bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas; it emerged on September 1, 2020.[23]
References
- ^ a b c "Oasis Petroleum Inc. COMMON STOCK 42,000,000 shares". U.S. Securities and Exchange Commission. June 16, 2010.
- ^ "Oasis Petroleum prices IPO at $14/shr". Reuters. June 24, 2010.
- ^ "Oasis Petroleum adding to its Williston basin assets". Oil & Gas Journal. September 5, 2013.
- ^ Zborowski, Matt (October 18, 2016). "Oasis to buy Williston assets from SM Energy for $785 million". Oil & Gas Journal.
- ^ "Oasis Midstream Partners LP Launches Initial Public Offering" (Press release). PR Newswire. September 11, 2017.
- ^ Pulsinelli, Olivia (September 21, 2017). "Oasis Petroleum's MLP Oasis Midstream Partners prices IPO below expected range". American City Business Journals.
- ^ "Oasis Petroleum Announces Delaware Basin Acquisition and Provides Operational Updates" (Press release). PR Newswire. December 11, 2017.
- ^ Eaton, Collin (December 12, 2017). "Oasis Petroleum in $946 million deal for Delaware Basin land". Houston Chronicle.
- ^ Para, Jen (December 12, 2017). "Oasis Petroleum acquires Delaware Basin acreage for nearly $1B". American City Business Journals.
- ^ Jean, Renée (May 21, 2021). "Oasis Petroleum is selling its Permian Assets for half what it paid for them in 2017". Williston Herald.
- ^ "Oasis Petroleum Successfully Completes Financial Restructuring" (Press release). PR Newswire. November 19, 2020.
- ^ Jumchai, Stephen Cedric (November 19, 2020). "Oasis Petroleum emerges from Chapter 11 bankruptcy". S&P Global.
- ^ "Obituaries: Kenneth R. Whiting". The Aspen Times. June 3, 2014.
- ^ "Whiting Petroleum Corporation 2003 Annual Report" (PDF).
- ^ "Whiting Petroleum prices IPO". American City Business Journals. November 20, 2003.
- ^ "Whiting completes North Ward Estes acquisition". Oil & Gas Journal. October 10, 2005.
- ^ "BreitBurn Energy Partners L.P. Completes Acquisition of Oklahoma Panhandle Assets from Whiting Oil and Gas Corporation" (Press release). Business Wire. July 15, 2013.
- ^ "Whiting Petroleum Corporation Announces Agreement to Acquire Properties in the Williston Basin for $260 Million" (Press release). Business Wire. August 27, 2013.
- ^ "Whiting Petroleum Completes Acquisition of Kodiak Oil & Gas" (Press release). Business Wire. December 8, 2014.
- ^ "Whiting Petroleum Corporation Closes Sale of North Dakota Midstream Assets for $375 Million" (Press release). Business Wire. January 3, 2017.
- ^ Brelsford, Robert (January 3, 2017). "Whiting closes sale of North Dakota midstream assets". Oil & Gas Journal.
- ^ "Whiting Petroleum Corporation Announces $500 Million Sale of Fort Berthold Area Assets in North Dakota" (Press release). Business Wire. August 15, 2017.
- ^ "Shale producer Whiting Petroleum emerges from bankruptcy". Reuters. September 1, 2020.
External links
- Business data for Chord Energy Corporation:
