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New words:
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Financial report summary
?Risks
- The combined company may be unable to integrate the business of Oasis and Whiting successfully or realize the anticipated benefits of the Merger.
- Failure to complete the Merger could negatively impact Whiting’s stock price and have a material adverse effect on our results of operations, cash flows and financial position.
Management Discussion
- Our properties in the Williston Basin of North Dakota and Montana target the Bakken and Three Forks formations. Net production from North Dakota and Montana averaged 86.6 MBOE/d for the first quarter of 2022, representing a 5% decrease from the fourth quarter of 2021. Across our acreage in the Williston Basin, we have implemented completion designs specifically tailored to unique reservoir conditions to increase well performance while reducing cost. We continued to focus on reducing time-on-location and total well cost while maximizing our lateral footage through drilling best practices including utilizing top tier drilling rigs, advanced downhole motor and drill bit technology and our custom drilling fluid system.