Chord Energy (WLLBW) 10-Q 29 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 15, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	WHITING PETROLEUM CORP
Entity Central Index Key	1,255,474
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		204,142,725
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 37,731	$ 78,100
Accounts receivable trade, net	354,488	543,172
Derivative assets	125,988	135,577
Prepaid expenses and other	39,967	86,150
Total current assets	558,174	842,999
Property and equipment:
Oil and gas properties, successful efforts method	13,795,901	14,949,702
Other property and equipment	164,278	276,582
Total property and equipment	13,960,179	15,226,284
Less accumulated depreciation, depletion and amortization	(3,013,548)	(3,083,572)
Total property and equipment, net	10,946,631	12,142,712
Goodwill		875,676
Debt issuance costs	76,244	53,274
Other long-term assets	91,111	104,843
TOTAL ASSETS	11,672,160	14,019,504
Current liabilities:
Accounts payable trade	124,805	62,664
Accrued capital expenditures	125,893	429,970
Revenues and royalties payable	178,208	254,018
Production Participation Plan liability		113,391
Accrued liabilities and other	142,316	169,193
Taxes payable	63,390	63,822
Accrued interest	73,925	67,913
Deferred income taxes	55,398	47,545
Total current liabilities	763,935	1,208,516
Long-term debt	5,254,646	5,628,782
Deferred income taxes	586,578	1,230,630
Asset retirement obligations	137,051	167,741
Deferred gain on sale	52,133	60,305
Other long-term liabilities	27,799	20,486
Total liabilities	$ 6,822,142	$ 8,316,460
Commitments and contingencies
Equity:
Common stock, $0.001 par value, 300,000,000 shares authorized; 206,455,594 issued and 204,142,725 outstanding as of September 30, 2015 and 168,346,020 issued and 166,889,152 outstanding as of December 31, 2014	$ 206	$ 168
Additional paid-in capital	4,652,571	3,385,094
Retained earnings	189,219	2,309,712
Total Whiting shareholders' equity	4,841,996	5,694,974
Noncontrolling interest	8,022	8,070
Total equity	4,850,018	5,703,044
TOTAL LIABILITIES AND EQUITY	$ 11,672,160	$ 14,019,504

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
CONSOLIDATED BALANCE SHEETS [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	206,455,594	168,346,020
Common stock, shares outstanding	204,142,725	166,889,152

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
REVENUES AND OTHER INCOME:
Oil, NGL and natural gas sales		$ 504,155	$ 805,054	$ 1,674,530	$ 2,352,064
Gain (loss) on sale of properties		(359)	(50)	(61,937)	12,305
Amortization of deferred gain on sale		3,666	7,689	13,240	22,906
Interest income and other		579	438	1,449	1,727
Total revenues and other income		508,041	813,131	1,627,282	2,389,002
COSTS AND EXPENSES:
Lease operating expenses		125,575	124,075	435,315	357,222
Production taxes		44,303	69,106	145,410	197,993
Depreciation, depletion and amortization		316,147	285,658	922,077	789,432
Exploration and impairment		1,690,679	29,925	1,829,160	103,544
Goodwill impairment	[1]	869,713		869,713
General and administrative		44,821	37,070	133,788	104,959
Interest expense		84,551	39,632	247,984	120,821
Loss on early extinguishment of debt				5,634
Commodity derivative (gain) loss, net		(207,783)	(23,783)	(115,215)	26,828
Total costs and expenses		2,968,006	561,683	4,473,866	1,700,799
INCOME (LOSS) BEFORE INCOME TAXES		(2,459,965)	251,448	(2,846,584)	688,203
INCOME TAX EXPENSE (BENEFIT):
Current		(422)	(660)	(357)	7,695
Deferred		(594,425)	94,147	(725,686)	262,070
Total income tax expense (benefit)		(594,847)	93,487	(726,043)	269,765
NET INCOME (LOSS)		(1,865,118)	157,961	(2,120,541)	418,438
Net loss attributable to noncontrolling interests		10	14	48	50
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS		$ (1,865,108)	$ 157,975	$ (2,120,493)	$ 418,488
EARNINGS (LOSS) PER COMMON SHARE:
Basic (in dollars per share)		$ (9.14)	$ 1.33	$ (11.01)	$ 3.52
Diluted (in dollars per share)		$ (9.14)	$ 1.32	$ (11.01)	$ 3.48
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic (in shares)		204,143,000	119,024,000	192,549,000	118,972,000
Diluted (in shares)		204,143,000	120,066,000	192,549,000	120,109,000
[1]	During the three and nine months ended September 30, 2015, goodwill related to the Kodiak Acquisition with a previous carrying amount of $870 million was written down to its fair value of zero, resulting in a non-cash impairment charge of $870 million which was recorded as a separate line in the consolidated statements of income. The Company did not recognize any goodwill impairment write-downs during the comparable 2014 reporting periods.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		$ (2,120,541)	$ 418,438
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization		922,077	789,432
Deferred income tax expense (benefit)		(725,686)	262,070
Amortization of debt issuance costs, debt discount and debt premium		33,058	9,343
Stock-based compensation		20,786	17,077
Amortization of deferred gain on sale		(13,240)	(22,906)
(Gain) loss on sale of properties		61,937	(12,305)
Undeveloped leasehold and oil and gas property impairments		1,721,160	53,972
Goodwill impairment	[1]	869,713
Exploratory dry hole costs		867	3,972
Loss on early extinguishment of debt		5,634
Non-cash portion of derivative losses		31,831	19,661
Other, net		(4,914)	(7,973)
Changes in current assets and liabilities:
Accounts receivable trade, net		188,341	(112,358)
Prepaid expenses and other		45,787	2,944
Accounts payable trade and accrued liabilities		(59,181)	(99,581)
Revenues and royalties payable		(75,810)	6,086
Taxes payable		(563)	21,434
Net cash provided by operating activities		901,256	1,349,306
CASH FLOWS FROM INVESTING ACTIVITIES:
Drilling and development capital expenditures		(2,146,681)	(2,046,338)
Acquisition of oil and gas properties		(25,018)	(58,104)
Other property and equipment		(7,123)	(58,907)
Proceeds from sale of oil and gas properties		338,507	83,500
Net cash used in investing activities		(1,840,315)	(2,079,849)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of common stock		1,111,148
Issuance of 1.25% Convertible Senior Notes due 2020		1,250,000
Issuance of 6.25% Senior Notes due 2023		750,000
Borrowings under credit agreement		2,450,000	350,000
Repayments of borrowings under credit agreement		(3,850,000)	(250,000)
Repayment of tax sharing liability			(26,373)
Debt and equity issuance costs		(54,420)	(4,508)
Restricted stock used for tax withholdings		(1,111)	(11,340)
Proceeds from stock options exercised		3,048	1,357
Net cash provided by financing activities		898,690	59,136
NET CHANGE IN CASH AND CASH EQUIVALENTS		(40,369)	(671,407)
CASH AND CASH EQUIVALENTS:
Beginning of period		78,100	699,460
End of period		37,731	28,053
NONCASH INVESTING AND FINANCING ACTIVITIES:
Accrued capital expenditures related to property additions		125,893	$ 226,337
Senior Notes [Member] | 8.125% Senior Notes due 2019 [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Partial redemption of Senior Notes		(2,475)
Senior Notes [Member] | 5.5% Senior Notes due 2021 [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Partial redemption of Senior Notes		(353,500)
Senior Notes [Member] | 5.5% Senior Notes due 2022 [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Partial redemption of Senior Notes		$ (404,000)
[1]	During the three and nine months ended September 30, 2015, goodwill related to the Kodiak Acquisition with a previous carrying amount of $870 million was written down to its fair value of zero, resulting in a non-cash impairment charge of $870 million which was recorded as a separate line in the consolidated statements of income. The Company did not recognize any goodwill impairment write-downs during the comparable 2014 reporting periods.

CONSOLIDATED STATEMENTS OF CAS6

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	Sep. 30, 2015	Dec. 31, 2014
1.25% Convertible Senior Notes due 2020 [Member] | Convertible Senior Notes [Member]
Interest Rate (as a percent)	1.25%
6.25% Senior Notes due 2023 [Member] | Senior Notes [Member]
Interest Rate (as a percent)	6.25%
8.125% Senior Notes due 2019 [Member] | Senior Notes [Member]
Interest Rate (as a percent)	8.125%	8.125%
5.5% Senior Notes due 2021 [Member] | Senior Notes [Member]
Interest Rate (as a percent)	5.50%	5.50%
5.5% Senior Notes due 2022 [Member] | Senior Notes [Member]
Interest Rate (as a percent)	5.50%	5.50%

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands	Total Whiting Shareholders' Equity [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
BALANCES at Dec. 31, 2013	$ 3,828,567	$ 120	$ 1,583,542	$ 2,244,905	$ 8,132	$ 3,836,699
BALANCES (in shares) at Dec. 31, 2013		120,102
Increase (Decrease) in Shareholders' Equity
Net income (loss)	418,488			418,488	(50)	418,438
Exercise of stock options	1,357		1,357			1,357
Exercise of stock options (in shares)		84
Restricted stock issued		$ 1	(1)
Restricted stock issued (in shares)		908
Restricted stock forfeited (in shares)		(384)
Restricted stock used for tax withholdings	(11,340)		(11,340)			(11,340)
Restricted stock used for tax withholdings (in shares)		(191)
Stock-based compensation	17,077		17,077			17,077
BALANCES at Sep. 30, 2014	4,254,149	$ 121	1,590,635	2,663,393	8,082	4,262,231
BALANCES (in shares) at Sep. 30, 2014		120,519
BALANCES at Dec. 31, 2014	5,694,974	$ 168	3,385,094	2,309,712	8,070	5,703,044
BALANCES (in shares) at Dec. 31, 2014		168,346
Increase (Decrease) in Shareholders' Equity
Net income (loss)	(2,120,493)			(2,120,493)	(48)	(2,120,541)
Issuance of common stock	1,100,037	$ 37	1,100,000			1,100,037
Issuance of common stock (in shares)		37,000
Equity component of Convertible Senior Notes, Net	144,755		144,755			144,755
Exercise of stock options	3,048		3,048			3,048
Exercise of stock options (in shares)		149
Restricted stock issued		$ 1	(1)
Restricted stock issued (in shares)		1,216
Restricted stock forfeited (in shares)		(217)
Restricted stock used for tax withholdings	(1,111)		(1,111)			(1,111)
Restricted stock used for tax withholdings (in shares)		(38)
Stock-based compensation	20,786		20,786			20,786
BALANCES at Sep. 30, 2015	$ 4,841,996	$ 206	$ 4,652,571	$ 189,219	$ 8,022	$ 4,850,018
BALANCES (in shares) at Sep. 30, 2015		206,456

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2015
BASIS OF PRESENTATION [Abstract]
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION Description of Operations —Whiting Petroleum Corporation, a Delaware corporation, is an independent oil and gas company engaged in the exploration, development, acquisition and production of crude oil, NGLs and natural gas primarily in the Rocky Mountains and Permian Basin regions of the United States. Unless otherwise specified or the context otherwise requires, all references in these notes to “Whiting” or the “Company” are to Whiting Petroleum Corporation and its consolidated subsidiaries, Whiting Oil and Gas Corporation (“Whiting Oil and Gas”), Whiting US Holding Company, Whiting Canadian Holding Company ULC (formerly Kodiak Oil & Gas Corp., “Kodiak”), Whiting Resources Corporation (formerly Kodiak Oil & Gas (USA) Inc.) and Whiting Programs, Inc. Consolidated Financial Statements —The unaudited consolidated financial statements include the accounts of Whiting Petroleum Corporation, its consolidated subsidiaries and Whiting’s pro rata share of the accounts of Whiting USA Trust I (“Trust I”) pursuant to Whiting’s 15.8% ownership interest in Trust I. On January 28, 2015, the net profits interest that Whiting conveyed to Trust I terminated as a result of 9.11 MMBOE (which amount is equivalent to 8.20 MMBOE attributable to the 90% net profits interest) having been produced and sold from the underlying properties. Upon termination, the net profits interest in the underlying properties reverted back to Whiting. Investments in entities which give Whiting significant influence, but not control, over the investee are accounted for using the equity method. Under the equity method, investments are stated at cost plus the Company’s equity in undistributed earnings and losses. All intercompany balances and transactions have been eliminated upon consolidation. These financial statements have been prepared in accordance with GAAP and the SEC rules and regulations for interim financial reporting. In the opinion of management, the accompanying financial statements include all adjustments (consisting of normal recurring accruals and adjustments) necessary to present fairly, in all material respects, the Company’s interim results. However, operating results for the periods presented are not necessarily indicative of the results that may be expected for the full year. The consolidated financial statements and related notes included in this Quarterly Report on Form 10-Q should be read in conjunction with Whiting’s consolidated financial statements and related notes included in the Company’s 2014 Annual Report on Form 10-K. Except as disclosed herein, there have been no material changes to the information disclosed in the notes to the consolidated financial statements included in the Company’s 2014 Annual Report on Form 10 ‑K. Earnings Per Share —Basic earnings per common share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during each period. Diluted earnings per common share is calculated by dividing adjusted net income available to common shareholders by the weighted average number of diluted common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for the diluted earnings per share calculations consist of unvested restricted stock awards, outstanding stock options and contingently issuable shares of convertible debt, all using the treasury stock method. In the computation of diluted earnings per share, excess tax benefits that would be created upon the assumed vesting of unvested restricted shares or the assumed exercise of stock options (i.e. hypothetical excess tax benefits) are included in the assumed proceeds component of the treasury stock method to the extent that such excess tax benefits are more likely than not to be realized. In addition, to the extent the conversion value of the convertible debt exceeds the aggregate principal amount of the notes, such conversion spread is included in the diluted earnings per share computation under the treasury stock method. When a loss from continuing operations exists, all potentially dilutive securities are anti-dilutive and are therefore excluded from the computation of diluted earnings per share.

OIL AND GAS PROPERTIES

OIL AND GAS PROPERTIES	9 Months Ended
	Sep. 30, 2015
OIL AND GAS PROPERTIES [Abstract]
OIL AND GAS PROPERTIES	2. OIL AND GAS PROPERTIES Net capitalized costs related to the Company’s oil and gas producing activities at September 30, 2015 and December 31, 2014 are as follows (in thousands): September 30, December 31, 2015 2014 Proved leasehold costs $ $ Unproved leasehold costs Costs of completed wells and facilities Wells and facilities in progress Total oil and gas properties, successful efforts method Accumulated depletion Oil and gas properties, net $ $

ACQUISITIONS AND DIVESTITURES

ACQUISITIONS AND DIVESTITURES	9 Months Ended
	Sep. 30, 2015
ACQUISITIONS AND DIVESTITURES [Abstract]
ACQUISITIONS AND DIVESTITURES	3. ACQUISITIONS AND DIVESTITURES 2015 Acquisitions There were no significant acquisitions during the nine months ended September 30, 2015. 2015 Divestitures In June 2015, the Company completed the sale of its interests in certain non-core producing oil and gas wells, effective June 1, 2015, for a purchase price of $150 million (subject to post-closing adjustments) and resulting in a pre-tax loss on sale of $114 million. The properties included over 2,000 gross wells in 132 fields across 10 states. In April 2015, the Company completed the sale of its interests in certain non-core producing oil and gas wells, effective May 1, 2015, for a purchase price of $108 million (subject to post-closing adjustments) and resulting in a pre-tax gain on sale of $31 million. The properties are located in 187 fields across 14 states, and predominately consist of assets that were previously included in the underlying properties of Whiting USA Trust I. Also during the nine months ended September 30, 2015, the Company completed several immaterial divestiture transactions for the sale of its interests in certain non-core producing oil and gas wells and undeveloped acreage, for a total purchase price of $78 million (subject to post-closing adjustments) and resulting in a pre-tax gain on sale of $21 million. In addition, subsequent to quarter-end , the Company entered into an agreement to sell its interests in additional non-core producing oil and gas wells, effective October 1, 2015, for a purchase price of $5 2 million (subject to post-closing adjustments). 2014 Acquisitions On December 8, 2014, the Company completed the acquisition of Kodiak Oil & Gas Corp. (now known as Whiting Canadian Holding Company ULC, “Kodiak”), whereby Whiting acquired all of the outstanding common stock of Kodiak (the “Kodiak Acquisition”). Pursuant to the terms of the Kodiak Acquisition agreement, Kodiak shareholders received 0.177 of a share of Whiting common stock in exchange for each share of Kodiak common stock they owned. Total consideration for the Kodiak Acquisition was $1.8 billion, consisting of 47,546,139 Whiting common shares issued at the market price of $37.25 per share on the date of issuance plus the fair value of Kodiak’s outstanding equity awards assumed by Whiting. The aggregate purchase price of the transaction was $4.3 billion, which included the assumption of Kodiak’s outstanding debt of $2.5 billion as of December 8, 2014 and the net cash acquired of $19 million. Kodiak was an independent energy company focused on exploration and production of crude oil and natural gas reserves, primarily in the Williston Basin region of the United States. As a result of the Kodiak Acquisition, Whiting acquired approximately 327,000 gross ( 178,000 net) acres located primarily in North Dakota, including interests in 778 producing oil and gas wells and undeveloped acreage. Approximately 10,000 of the net acres acquired were located in Wyoming and Colorado. The Kodiak Acquisition was accounted for using the acquisition method of accounting for business combinations. The allocation of the purchase price is based upon management’s estimates and assumptions related to the fair value of assets acquired and liabilities assumed on the acquisition date using currently available information. Transaction costs relating to the Kodiak Acquisition were expensed as incurred. The initial accounting for the Kodiak Acquisition is preliminary, and adjustments to provisional amounts (such as goodwill, certain accrued receivables and liabilities, and their related deferred taxes) or recognition of additional assets acquired or liabilities assumed, may occur as additional information is obtained about facts and circumstances that existed as of the acquisition date. Since the acquisition date, the Company has recorded adjustments to provisional amounts, and a corresponding decrease to goodwill, totaling $6 million. These adjustments did not have a material impact on the Company’s previously reported consolidated financial statements, and therefore the Company has not retrospectively adjusted those financial statements. The consideration transferred, fair value of assets acquired and liabilities assumed, and the resulting goodwill as of the acquisition date are as follows (in thousands): Consideration: Fair value of Whiting’s common stock issued (1) $ Fair value of Kodiak restricted stock units assumed by Whiting (2) Fair value of Kodiak options assumed by Whiting Total consideration $ Fair value of liabilities assumed: Accounts payable trade $ Accrued capital expenditures Revenues and royalties payable Accrued liabilities and other Taxes payable Accrued interest Current deferred tax liability Long-term debt Asset retirement obligations Other long-term liabilities Amount attributable to liabilities assumed $ Fair value of assets acquired: Cash and cash equivalents $ Accounts receivable trade, net Derivative assets Prepaid expenses and other Oil and gas properties, successful efforts method: Proved properties Unproved properties Other property and equipment Long-term deferred tax asset Other long-term assets Amount attributable to assets acquired $ Goodwill $ (1) 47,546,139 shares of Whiting common stock at $37.25 per share (closing price as of December 5, 2014) based on Kodiak’s 268,622,497 common shares outstanding at closing. (2) 257,601 shares of Whiting common stock issued at $37.25 per share (closing price as of December 5, 2014) based on Kodiak’s 1,455,409 restricted stock units held by employees as of December 8, 2014. Goodwill recognized as a result of the Kodiak Acquisition totaled $870 million, none of which is deductible for income tax purposes. Goodwill was primarily attributable to the operational and financial synergies expected to be realized from the acquisition, including the employment of optimized completion techniques on Kodiak's undrilled acreage which improved hydrocarbon recovery, the realization of savings in drilling and well completion costs, the accelerated development of Kodiak’s asset base, and the acquisition of experienced oil and gas technical personnel. During the third quarter of 2015, the Company determined that the goodwill recognized as a result of the Kodiak Acquisition had become fully impaired and wrote its carrying value down to zero . Refer to the “Fair Value Measurements” footnote for further information regarding goodwill impairment. 2014 Divestitures In March 2014, the Company completed the sale of approximately 49,900 gross ( 41,000 net) acres in its Big Tex prospect, which consisted mainly of undeveloped acreage as well as its interests in certain producing oil and gas wells, located in the Delaware Basin of Texas for a cash purchase price of $76 million resulting in a pre-tax gain on sale of $12 million.

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2015
LONG-TERM DEBT [Abstract]
LONG-TERM DEBT	4. LONG-TERM DEBT Long-term debt consisted of the following at September 30, 2015 and December 31, 2014 (in thousands): September 30, December 31, 2015 2014 Credit agreement $ - $ 6.5% Senior Subordinated Notes due 2018 5% Senior Notes due 2019 8.125% Senior Notes due 2019, including unamortized debt premium of $20,639 and $23,742 , respectively 1.25% Convertible Senior Notes due 2020, including unamortized debt discount of $216,210 - 5.75% Senior Notes due 2021, including unamortized debt premium of $2,667 and $3,180 , respectively 5.5% Senior Notes due 2021, including unamortized debt premium of $867 - 5.5% Senior Notes due 2022, including unamortized debt premium of $993 - 6.25% Senior Notes due 2023 - Total debt $ $ Credit Agreement —Whiting Oil and Gas, the Company’s wholly-owned subsidiary, has a credit agreement with a syndicate of banks that as of September 30, 2015 had a borrowing base of $4.5 billion, with aggregate commitments of $3.5 billion. In October 2015, the Company entered into an amendment to its credit agreement in connection with the November 1, 2015 regular borrowing base redetermination that (i) decreased the borrowing base under the facility to $4.0 billion, (ii) extended the Interim Covenant Period (as defined in the credit agreement and below), and (iii) included an additional financial covenant requirement during the Interim Covenant Period. The aggregate commitments under the amended credit agreement remain unchanged at $3.5 billion. The Company may increase the maximum aggregate amount of commitments under the credit agreement up to the $4.0 billion borrowing base if certain conditions are satisfied, including the consent of lenders participating in the increase. As of September 30, 2015 , the Company had $3.5 billion of available borrowing capacity, which was net of $4 million in letters of credit with no borrowings outstanding. The borrowing base under the credit agreement is determined at the discretion of the lenders, based on the collateral value of the Company’s proved reserves that have been mortgaged to such lenders, and is subject to regular redeterminations on May 1 and November 1 of each year, as well as special redeterminations described in the credit agreement, in each case which may reduce the amount of the borrowing base. Upon a redetermination of the borrowing base, either on a periodic or special redetermination date, if borrowings in excess of the revised borrowing capacity were outstanding, the Company could be forced to immediately repay a portion of its debt outstanding under the credit agreement. A portion of the revolving credit facility in an aggregate amount not to exceed $100 million may be used to issue letters of credit for the account of Whiting Oil and Gas or other designated subsidiaries of the Company. As of September 30, 2015 , $96 million was available for additional letters of credit under the agreement. The credit agreement provides for interest only payments until December 2019, when the credit agreement expires and all outstanding borrowings are due. Interest under the revolving credit facility accrues at the Company’s option at either (i) a base rate for a base rate loan plus the margin in the table below, where the base rate is defined as the greatest of the prime rate, the federal funds rate plus 0.5% per annum, or an adjusted LIBOR rate plus 1.0% per annum, or (ii) an adjusted LIBOR rate for a Eurodollar loan plus the margin in the table below. Additionally, the Company also incurs commitment fees as set forth in the table below on the unused portion of the aggregate commitments of the lenders under the revolving credit facility, which are included as a component of interest expense. Applicable Applicable Margin for Base Margin for Commitment Ratio of Outstanding Borrowings to Borrowing Base Rate Loans Eurodollar Loans Fee Less than 0.25 to 1.0 0.50% 1.50% 0.375% Greater than or equal to 0.25 to 1.0 but less than 0.50 to 1.0 0.75% 1.75% 0.375% Greater than or equal to 0.50 to 1.0 but less than 0.75 to 1.0 1.00% 2.00% 0.50% Greater than or equal to 0.75 to 1.0 but less than 0.90 to 1.0 1.25% 2.25% 0.50% Greater than or equal to 0.90 to 1.0 1.50% 2.50% 0.50% The credit agreement contains restrictive covenants that may limit the Company’s ability to, among other things, incur additional indebtedness, sell assets, make loans to others, make investments, enter into mergers, enter into hedging contracts, incur liens and engage in certain other transactions without the prior consent of its lenders. Except for limited exceptions, the credit agreement also restricts the Company’s ability to make any dividend payments or distributions on its common stock. These restrictions apply to all of the net assets of the subsidiaries. As of September 30, 2015 , total restricted net assets were $ 4. 1 billion, and there were no retained earnings free from restrictions. The amended credit agreement requires the Company, as of the last day of any quarter, to maintain the following ratios (as defined in the credit agreement): (i) a consolidated current assets to consolidated current liabilities ratio (which includes an add back of the available borrowing capacity under the credit agreement) of not less than 1.0 to 1.0, (ii) a total senior secured debt to the last four quarters’ EBITDAX ratio of less than 2.5 to 1.0 during the Interim Covenant Period (defined below), and thereafter a total debt to EBITDAX ratio of less than 4.0 to 1.0 and (iii) a ratio of the last four quarters’ EBITDAX to consolidated interest charges of not less than 2.25 to 1.0 during the Interim Covenant Period. Under the amended credit agreement, the “Interim Covenant Period” is defined as the period from June 30, 2015 until the earlier of (a) April 1, 2018 or (b) the commencement of an investment-grade debt rating period as described below. The Company was in compliance with its covenants under the credit agreement as of September 30, 2015 . Under the terms of the credit agreement, at any time during which Whiting has an investment-grade debt rating from Moody’s Investors Service, Inc. or Standard & Poor’s Ratings Group and Whiting has elected, at its discretion, to effect an investment-grade rating period, (i) certain security requirements, including the borrowing base requirement, and restrictive covenants will cease to apply, (ii) certain other restrictive covenants will become less restrictive, (iii) an additional financial covenant will be imposed, and (iv) the interest rate margin applicable to all revolving borrowings as well as the commitment fee with respect to the revolving facility will be based upon the Company’s debt rating rather than the ratio of outstanding borrowings to the borrowing base. The obligations of Whiting Oil and Gas under the credit agreement are secured by a first lien on substantially all of Whiting Oil and Gas’ and Whiting Resource Corporation’s properties included in the borrowing base for the credit agreement. The Company has guaranteed the obligations of Whiting Oil and Gas under the credit agreement and has pledged the stock of its subsidiaries as security for its guarantee. Senior Notes and Senior Subordinated Notes —In September 2010, the Company issued at par $350 million of 6.5% Senior Subordinated Notes due October 2018 (the “2018 Senior Subordinated Notes”). The estimated fair value of these notes was $319 million and $345 million as of September 30, 2015 and December 31, 2014 , respectively, based on quoted market prices for this debt security, and such fair value is therefore designated as Level 1 within the valuation hierarchy. In September 2013, the Company issued at par $1.1 billion of 5% Senior Notes due March 2019 (the “2019 Senior Notes”) and $800 million of 5.75% Senior Notes due March 2021, and issued at 101% of par an additional $400 million of 5.75% Senior Notes due March 2021 (collectively, the “2021 Senior Notes”). The estimated fair value of the 2019 Senior Notes was $ 946 million and $1.0 billion as of September 30, 2015 and December 31, 2014 , respectively. The estimated fair value of the 2021 Senior Notes was $1.0 billion and $1.1 billion as of September 30, 2015 and December 31, 2014 , respectively. These fair values are based on quoted market prices for these debt securities, and such fair values are therefore designated as Level 1 within the valuation hierarchy. Kodiak Senior Notes. In conjunction with the Kodiak Acquisition, Whiting US Holding Company, a wholly-owned subsidiary of the Company, became a co-issuer of Kodiak’s $800 million of 8.125% Senior Notes due December 2019 (the “2019 Kodiak Notes”), $350 million of 5.5% Senior Notes due January 2021 (the “2021 Kodiak Notes”), and $400 million of 5.5% Senior Notes due February 2022 (the “2022 Kodiak Notes” and together with the 2019 Kodiak Notes and the 2021 Kodiak Notes, the “Kodiak Notes”). The Kodiak Notes were recorded at their fair values of $824 million, $351 million and $401 million, respectively, on December 8, 2014, the closing date of the acquisition. Upon closing of the Kodiak Acquisition, the indentures under which the Kodiak Notes were issued (the “Kodiak Indentures”) were amended to (i) modify certain covenants and restrictions, (ii) provide for unconditional and irrevocable guarantees by Whiting Petroleum Corporation and Whiting Oil and Gas of the prompt payment, when due, of any amounts owed under the Kodiak Notes and the Kodiak Indentures, and (iii) allow Whiting US Holding Company to become a co-issuer of the Kodiak Notes. Also in conjunction with the Kodiak Acquisition, in December 2014, each of the indentures governing the Company’s 2019 Senior Notes, 2021 Senior Notes and 2018 Senior Subordinated Notes were amended to include Whiting US Holding Company, Kodiak and Whiting Resources Corporation as guarantors. Shortly after closing, the Kodiak Notes were deregistered in accordance with the Securities Exchange Act of 1934, and accordingly, the Company is exempt from the reporting requirements under Rule 3-10 of Regulation S-X of the SEC with respect to the Kodiak Notes. Repurchase of Kodiak Notes. On January 7, 2015, as required under the Kodiak Indentures upon a change in control of Kodiak, Whiting offered to repurchase at 101% of par all $1,550 million principal amount of Kodiak Notes then outstanding. On March 6, 2015, Whiting paid $760 million to repurchase $2 million aggregate principal amount of the 2019 Kodiak Notes, $346 million aggregate principal amount of the 2021 Kodiak Notes and $399 million aggregate principal amount of the 2022 Kodiak Notes, which payment consisted of the 101% redemption price and all accrued and unpaid interest on such notes. On May 1, 2015, Whiting paid $5 million to repurchase the remaining $4 million aggregate principal amount of the 2021 Kodiak Notes and $1 million aggregate principal amount of the 2022 Kodiak Notes, which payment consisted of the 101% redemption price and all accrued and unpaid interest on such notes. The Company financed the note repurchases with borrowings under its revolving credit facility. As a result of the repurchases, Whiting recognized a $6 million loss on early extinguishment of debt, which consisted of an $8 million cash charge related to the redemption premium on the Kodiak Notes, partially offset by a $2 million non-cash credit related to the acceleration of unamortized debt premiums on such notes. The remaining debt premium on the 2019 Kodiak Notes is being amortized as a reduction to interest expense over the life of the notes. The estimated fair value of the 2019 Kodiak Notes was $758 million and $812 million as of September 30, 2015 and December 31, 2014, respectively, based on quoted market prices for this debt security, and such fair value is therefore designated as Level 1 within the valuation hierarchy. Issuance of Senior Notes. In March 2015, the Company issued at par $750 million of 6.25% Senior Notes due April 2023 (the “2023 Senior Notes” and together with the 2019 Senior Notes and 2021 Senior Notes, the “Whiting Senior Notes”). The Company used the net proceeds from this issuance to repay a portion of the debt outstanding under its credit agreement. The estimated fair value of the 2023 Senior Notes was $660 million as of September 30, 2015 . The fair value is based on quoted market prices for this debt security, and such fair value is therefore designated as Level 1 within the valuation hierarchy. Convertible Senior Notes —In March 2015, the Company issued at par $1,250 million of 1.25% Convertible Senior Notes due April 2020 (the “Convertible Senior Notes”) for net proceeds of $1.2 billion, net of initial purchasers’ fees of $25 million. The Company used the net proceeds from this issuance to repay a portion of the debt outstanding under its credit agreement. The notes will mature on April 1, 2020 unless earlier converted in accordance with their terms. The Company has the option to settle conversions of these notes with cash, shares of common stock or a combination of cash and common stock at its election. The Company’s intent is to settle the principal amount of the Convertible Senior Notes in cash upon conversion. Prior to January 1, 2020, the Convertible Senior Notes will be convertible only under the following circumstances: (i) during any calendar quarter commencing after the calendar quarter ending on June 30, 2015 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (ii) during the five business day period after any five consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of the Convertible Senior Notes for each trading day of the measurement period is less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; or (iii) upon the occurrence of specified corporate events. On or after January 1, 2020, the Convertible Senior Notes will be convertible at any time until the second scheduled trading day immediately preceding the April 1, 2020 maturity date of the notes. The notes will be convertible at an initial conversion rate of 25.6410 shares of Whiting’s common stock per $1,000 principal amount of the notes, which is equivalent to an initial conversion price of approximately $39.00 . The conversion rate will be subject to adjustment in some events. In addition, following certain corporate events that occur prior to the maturity date, the Company will increase, in certain circumstances, the conversion rate for a holder who elects to convert its Convertible Senior Notes in connection with such corporate event. As of September 30, 2015 , none of the contingent conditions allowing holders of the Convertible Senior Notes to convert these notes had been met. Upon issuance, the Company separately accounted for the liability and equity components of the Convertible Senior Notes. The liability component was recorded at the estimated fair value of a similar debt instrument without the conversion feature. The difference between the principal amount of the Convertible Senior Notes and the estimated fair value of the liability component was recorded as a debt discount and will be amortized to interest expense over the term of the notes using the effective interest method, with an effective interest rate of 5.61% per annum. The fair value of the Convertible Senior Notes as of the issuance date was estimated at $1.0 billion, resulting in a debt discount at inception of $238 million. The equity component, representing the value of the conversion option, was computed by deducting the fair value of the liability component from the initial proceeds of the Convertible Senior Notes issuance. This equity component was recorded, net of deferred taxes and issuance costs, in additional paid-in capital within shareholders’ equity, and will not be remeasured as long as it continues to meet the conditions for equity classification. Transaction costs related to the Convertible Senior Notes issuance were allocated to the liability and equity components based on their relative fair values. Issuance costs attributable to the liability component were recorded within debt issuance costs on the consolidated balance sheet and are being amortized to expense over the term of the notes using the effective interest method. Issuance costs attributable to the equity component were recorded as a charge to additional paid-in capital within shareholders’ equity. The Convertible Senior Notes consist of the following at September 30, 2015 (in thousands): Liability component: Principal $ Less: note discount Net carrying value $ Equity component (1) $ (1) Recorded in additional paid-in capital, net of $ 5 million of issuance costs and $88 million of deferred taxes. The estimated fair value of the Convertible Senior Notes was $1.0 billion as of September 30, 2015 . The fair value is based on quoted market prices for this debt security, and such fair value is therefore designated as Level 1 within the valuation hierarchy. Interest expense recognized on the Convertible Senior Notes related to the stated interest rate and amortization of the debt discount totaled $14 million and $29 million for the three and nine months ended September 30, 2015 , respectively. The Whiting Senior Notes and the Convertible Senior Notes are unsecured obligations of Whiting Petroleum Corporation and the 2019 Kodiak Notes are unsecured obligations of Whiting US Holding Company, and these unsecured obligations are subordinated to all of the Company’s secured indebtedness, which consists of Whiting Oil and Gas’ credit agreement. The 2018 Senior Subordinated Notes are also unsecured obligations of Whiting Petroleum Corporation and are subordinated to all of the Company’s senior debt, which currently consists of the Whiting Senior Notes, the Convertible Senior Notes, the 2019 Kodiak Notes and Whiting Oil and Gas’ credit agreement. The Company’s obligations under the 2018 Senior Subordinated Notes, the Whiting Senior Notes and the Convertible Senior Notes are guaranteed by the Company’s wholly-owned subsidiaries, Whiting Oil and Gas, Whiting US Holding Company, Whiting Canadian Holding Company ULC and Whiting Resources Corporation (the “Guarantors”). These guarantees are full and unconditional and joint and several among the Guarantors. Any subsidiaries other than these Guarantors are minor subsidiaries as defined by Rule 3-10(h)(6) of Regulation S ‑X of the SEC. Whiting Petroleum Corporation has no assets or operations independent of this debt and its investments in its consolidated subsidiaries.

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	9 Months Ended
	Sep. 30, 2015
ASSET RETIREMENT OBLIGATIONS [Abstract]
ASSET RETIREMENT OBLIGATIONS	5. ASSET RETIREMENT OBLIGATIONS The Company’s asset retirement obligations represent the present value of estimated future costs associated with the plugging and abandonment of oil and gas wells, removal of equipment and facilities from leased acreage, and land restoration (including removal of certain onshore and offshore facilities in California) in accordance with applicable local, state and federal laws. The Company follows FASB ASC Topic 410, Asset Retirement and Environmental Obligations , to determine its asset retirement obligation amounts by calculating the present value of the estimated future cash outflows associated with its plug and abandonment obligations. The current portions at September 30, 2015 and December 31, 2014 were $8 million and $12 million, respectively, and have been included in accrued liabilities and other. Revisions to the liability typically occur due to changes in estimated abandonment costs or well economic lives, or if federal or state regulators enact new requirements regarding the abandonment of wells. The following table provides a reconciliation of the Company’s asset retirement obligations for the nine months ended September 30, 2015 (in thousands): Asset retirement obligation at January 1, 2015 $ Additional liability incurred Revisions to estimated cash flows Accretion expense Obligations on sold properties Liabilities settled Asset retirement obligation at September 30, 2015 $

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2015
DERIVATIVE FINANCIAL INSTRUMENTS [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	6. DERIVATIVE FINANCIAL INSTRUMENTS The Company is exposed to certain risks relating to its ongoing business operations, and Whiting uses derivative instruments to manage its commodity price risk. Whiting follows FASB ASC Topic 815, Derivatives and Hedging , to account for its derivative financial instruments. Commodity Derivative Contracts — Historically, prices received for crude oil and natural gas production have been volatile because of supply and demand factors, worldwide political factors, general economic conditions and seasonal weather patterns. Whiting enters into derivative contracts such as costless collars, swaps and crude oil sales and delivery contracts to achieve a more predictable cash flow by reducing its exposure to commodity price volatility. Commodity derivative contracts are thereby used to ensure adequate cash flow to fund the Company’s capital programs and to manage returns on acquisitions and drilling programs. The Company does not enter into derivative contracts for speculative or trading purposes. Crude Oil Costless Collars and Swaps. Costless collars are designed to establish floor and ceiling prices on anticipated future oil or gas production, while swaps are designed to establish a fixed price for anticipated future oil or gas production. While the use of these derivative instruments limits the downside risk of adverse price movements, they may also limit future revenues from favorable price movements. The table below details the Company’s costless collar and swap derivatives entered into to hedge forecasted crude oil production revenues as of October 1, 2015. Whiting Petroleum Corporation Derivative Contracted Crude Weighted Average NYMEX Price Instrument Period Oil Volumes (Bbl) Collar Ranges for Crude Oil (per Bbl) Three-way collars (1) Oct - Dec 2015 $44.48 - $54.83 - $70.54 Jan - Dec 2016 $43.75 - $53.75 - $74.40 Collars Oct - Dec 2015 $51.06 - $57.37 Jan - Dec 2016 $51.00 - $63.48 Jan - Dec 2017 $53.00 - $70.44 Swaps Oct - Dec 2015 $76.25 Total (1) A three-way collar is a combination of options: a sold call, a purchased put and a sold put. The sold call establishes a maximum price (ceiling) Whiting will receive for the volumes under contract. The purchased put establishes a minimum price (floor), unless the market price falls below the sold put (sub-floor), at which point the minimum price would be NYMEX plus the difference between the purchased put and the sold put strike price. Crude Oil Sales and Delivery Contract. The Company has a long-term crude oil sales and delivery contract for oil volumes produced from its Redtail field in Colorado. Under the terms of the agreement, Whiting has committed to deliver certain fixed volumes of crude oil through 2020. The Company determined that it was not probable that future oil production from its Redtail field would be sufficient to meet the minimum volume requirement specified in this contract, and accordingly, that the Company would not settle this contract through physical delivery of crude oil volumes. As a result, Whiting determined that this contract would not qualify for the “normal purchase normal sale” exclusion and has therefore reflected the contract at fair value in the consolidated financial statements. As of September 30, 2015 , the estimated fair value of this derivative contract was a liability of $11 million. Embedded Commodity Derivative Contract — In May 2011, Whiting entered into a long-term contract to purchase CO 2 for use in its EOR project that is being carried out at its North Ward Estes field in Texas. This contract contained a price adjustment clause that was linked to changes in NYMEX crude oil prices. The Company had determined that the portion of this contract linked to NYMEX oil prices was not clearly and closely related to the host contract, and the Company therefore bifurcated this embedded pricing feature from its host contract and reflected it at fair value in the consolidated financial statements. This contract has been terminated. Derivative Instrument Reporting — All derivative instruments are recorded in the consolidated financial statements at fair value, other than derivative instruments that meet the “normal purchase normal sale” exclusion. The following table summarizes the effects of commodity derivative instruments on the consolidated statements of income for the three and nine months ended September 30, 2015 and 2014 (in thousands): (Gain) Loss Recognized in Income Not Designated as Nine Months Ended September 30, ASC 815 Hedges Income Statement Classification 2015 2014 Commodity contracts Commodity derivative (gain) loss, net $ $ Embedded commodity contracts Commodity derivative (gain) loss, net - Total $ $ (Gain) Loss Recognized in Income Not Designated as Three Months Ended September 30, ASC 815 Hedges Income Statement Classification 2015 2014 Commodity contracts Commodity derivative (gain) loss, net $ $ Embedded commodity contracts Commodity derivative (gain) loss, net - Total $ $ Offsetting of Derivative Assets and Liabilities. The Company typically has numerous hedge positions with each individual financial derivative counterparty that span a several-month time period and that typically result in both fair value asset and liability positions held with that counterparty. These positions are all offset to a single fair value asset or liability amount at the end of each reporting period. The Company nets its financial derivative instrument fair value amounts executed with the same counterparty pursuant to ISDA master agreements, which provide for net settlement over the term of the contract and in the event of default or termination of the contract. The following tables summarize the location and fair value amounts of all derivative instruments in the consolidated balance sheets, as well as the gross recognized derivative assets, liabilities and amounts offset in the consolidated balance sheets (in thousands): September 30, 2015 (1) Net Gross Recognized Recognized Gross Fair Value Not Designated as Assets/ Amounts Assets/ ASC 815 Hedges Balance Sheet Classification Liabilities Offset Liabilities Derivative assets: Commodity contracts - current Derivative assets $ $ $ Commodity contracts - non-current Other long-term assets Total derivative assets $ $ $ Derivative liabilities: Commodity contracts - current Accrued liabilities and other $ $ $ Commodity contracts - non-current Other long-term liabilities Total derivative liabilities $ $ $ December 31, 2014 (1) Net Gross Recognized Recognized Gross Fair Value Not Designated as Assets/ Amounts Assets/ ASC 815 Hedges Balance Sheet Classification Liabilities Offset Liabilities Derivative assets: Commodity contracts - current Derivative assets $ $ $ Commodity contracts - non-current Other long-term assets - Total derivative assets $ $ $ Derivative liabilities: Commodity contracts - current Accrued liabilities and other $ $ $ - Total derivative liabilities $ $ $ - (1) Because counterparties to the Company’s financial derivative contracts are lenders under Whiting Oil and Gas’ credit agreement, which eliminates its need to post or receive collateral associated with its derivative positions, columns for cash collateral pledged or received have not been presented in the tables above. Contingent Features in Financial Derivative Instruments . None of the Company’s derivative instruments contain credit-risk-related contingent features. Counterparties to the Company’s financial derivative contracts are high credit-quality financial institutions that are lenders under Whiting’s credit agreement. The Company uses only credit agreement participants to hedge with, since these institutions are secured equally with the holders of Whiting’s bank debt, which eliminates the potential need to post collateral when Whiting is in a derivative liability position. As a result, the Company is not required to post letters of credit or corporate guarantees for its derivative counterparties in order to secure contract performance obligations.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2015
FAIR VALUE MEASUREMENTS [Abstract]
FAIR VALUE MEASUREMENTS	7. FAIR VALUE MEASUREMENTS Cash and cash equivalents, accounts receivable and accounts payable are carried at cost, which approximates their fair value because of the short-term maturity of these instruments. The Company’s credit agreement has a recorded value that approximates its fair value since its variable interest rate is tied to current market rates. The Company’s Senior Notes (including the Kodiak Notes), Convertible Senior Notes and Senior Subordinated Notes are recorded at cost, and the fair values of these instruments are included in the “Long-Term Debt” footnote. The Company’s derivative financial instruments are recorded at fair value and include a measure of the Company’s own nonperformance risk or that of its counterparties, as appropriate. The Company follows FASB ASC Topic 820, Fair Value Measurement and Disclosure , which establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy categorizes assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. The three levels are defined as follows: · Level 1: Quoted Prices in Active Markets for Identical Assets – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. · Level 2: Significant Other Observable Inputs – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. · Level 3: Significant Unobservable Inputs – inputs to the valuation methodology are unobservable and significant to the fair value measurement. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The Company reflects transfers between the three levels at the beginning of the reporting period in which the availability of observable inputs no longer justifies classification in the original level. The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014 , and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair values (in thousands): Total Fair Value Level 1 Level 2 Level 3 September 30, 2015 Financial Assets Commodity derivatives – current $ - $ $ - $ Commodity derivatives – non-current - - Total financial assets $ - $ $ - $ Financial Liabilities Commodity derivatives – current $ - $ - $ $ Commodity derivatives – non-current - - Total financial liabilities $ - $ - $ $ Total Fair Value Level 1 Level 2 Level 3 December 31, 2014 Financial Assets Commodity derivatives – current $ - $ $ $ Commodity derivatives – non-current - - Total financial assets $ - $ $ $ The following methods and assumptions were used to estimate the fair values of the Company’s financial assets and liabilities that are measured on a recurring basis: Commodity Derivatives . Commodity derivative instruments consist mainly of costless collars and swap contracts for crude oil. The Company’s costless collars and swaps are valued based on an income approach. Both the option and swap models consider various assumptions, such as quoted forward prices for commodities, time value and volatility factors. These assumptions are observable in the marketplace throughout the full term of the contract, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace, and are therefore designated as Level 2 within the valuation hierarchy. The discount rates used in the fair values of these instruments include a measure of either the Company’s or the counterparty’s nonperformance risk, as appropriate. The Company utilizes its counterparties’ valuations to assess the reasonableness of its own valuations. In addition, the Company has a long-term crude oil sales and delivery contract, whereby it has committed to deliver certain fixed volumes of crude oil through 2020. Whiting has determined that the contract did not meet the “normal purchase normal sale” exclusion, and has therefore reflected this contract at fair value in its consolidated financial statements. This commodity derivative was valued based on an income approach, which considers various assumptions, including quoted forward prices for commodities, market differentials for crude oil, U.S. Treasury rates and either the Company’s or the counterparty’s nonperformance risk, as appropriate. The assumptions used in the valuation of the crude oil sales and delivery contract include certain market differential metrics that were unobservable during the term of the contract. Such unobservable inputs were significant to the contract valuation methodology, and the contract’s fair value was therefore designated as Level 3 within the valuation hierarchy. Level 3 Fair Value Measurements. A third-party valuation specialist is utilized to determine the fair value of the commodity derivative instruments designated as Level 3. The Company reviews these valuations (including the related model inputs and assumptions) and analyzes changes in fair value measurements between periods. The Company corroborates such inputs, calculations and fair value changes using various methodologies, and reviews unobservable inputs for reasonableness utilizing relevant information from other published sources. T he following table presents a reconciliation of changes in the fair value of financial assets or liabilities designated as Level 3 in the valuation hierarchy for the three and nine months ended September 30, 2015 and 2014 (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 (2) 2015 2014 (2) Fair value asset (liability), beginning of period $ $ $ $ Unrealized losses on commodity derivative contracts included in earnings (1) Transfers into (out of) Level 3 - - - - Fair value asset (liability), end of period $ $ $ $ (1) Included in commodity derivative (gain) loss in the consolidated statements of income. (2) The fair value asset designated as Level 3 during the three and nine months ended September 30, 2014 consisted of the Company’s embedded commodity derivative contract, which has since been terminated and therefore had a fair value of zero as of December 31, 2014. Refer to the “Derivative Financial Instruments” footnote for more information. Quantitative Information About Level 3 Fair Value Measurements. The significant unobservable inputs used in the fair value measurement of the Company’s commodity derivative contract designated as Level 3 are as follows: Fair Value at September 30, 2015 Valuation Unobservable Amount (in thousands) Technique Input (per Bbl) Commodity derivative contract ($10,769) Income approach Market differential for crude oil $5.02 Sensitivity to Changes In Significant Unobservable Inputs. As presented above, the significant unobservable inputs used in the fair value measurement of Whiting’s commodity derivative contract are the market differentials for crude oil over the term of the contract. Significant increases or decreases in these unobservable inputs in isolation would result in a significantly higher or lower, respectively, fair value liability measurement. Non-recurring Fair Value Measurements . The Company applies the provisions of the fair value measurement standard on a non-recurring basis to its non-financial assets and liabilities, including proved property and goodwill. These assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances. The following table presents information about the Company’s non-financial assets measured at fair value on a non-recurring basis as of September 30, 2015, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (in thousands): Impairment Loss (Before Tax) Net Carrying Three and Nine Value as of Months Ended September 30, Fair Value Measurements Using September 30, 2015 Level 1 Level 2 Level 3 2015 Proved property (1) $ $ - $ - $ $ Goodwill (2) - - - - Total non-recurring assets at fair value $ $ - $ - $ $ _____________________ (1) During the three and nine months ended September 30, 2015, proved oil and gas properties with a previous carrying amount of $2.1 billion were written down to their fair value of $531 million, resulting in a non-cash impairment charge of $1.5 billion which was recorded within exploration and impairment expense. The impaired properties consisted of the Company’s North Ward Estes field in Texas and other non-core proved oil and gas properties primarily in Texas, Wyoming, North Dakota and Colorado that are not currently being developed due to depressed oil and gas prices. Also during the three and nine months ended September 30, 2015, proved CO 2 properties at the Bravo Dome field in New Mexico and the McElmo Dome field in Colorado with a previous carrying amount of $63 million were written down to their fair value of $1 million, resulting in a non-cash impairment charge of $62 million which was also recorded within exploration and impairment expense. The Company did not recognize any impairment write-downs with respect to its proved oil and gas or CO 2 properties during the comparable 2014 reporting periods. (2) During the three and nine months ended September 30, 2015, goodwill related to the Kodiak Acquisition with a previous carrying amount of $870 million was written down to its fair value of zero , resulting in a non-cash impairment charge of $870 million which was recorded as a separate line in the consolidated statements of income. The Company did not recognize any goodwill impairment write-downs during the comparable 2014 reporting periods. The following methods and assumptions were used to estimate the fair values of the non-financial assets in the tables above: Proved Property Impairments . The Company tests proved property for impairment whenever events or changes in circumstances indicate that the fair value of these assets may be reduced below their carrying value. As a result of the significant decrease in the forward price curve s for crude oil and natural gas from June 30, 2015 to September 30, 2015 and the associated decline in oil and gas reserves over that same period, the Company performed a proved property impairment test as of September 30, 2015. Th e fair value was ascribed using income approach analyse s based on the net discounted future cash flows from the producing property and a market approach analysis , which approaches have been probability-weighted . The discounted cash flows are based on management’s expectations for the future. Unobservable inputs include estimates of future oil and gas or CO 2 production, as the case may be, from the Company’s reserve reports, commodity prices based on sales contract terms or NYMEX forward price curves as of the date of the estimate (adjusted for basis differentials), operating and development costs, and a discount rate based on the Company’s weighted-average cost of capital (all of which are designated as Level 3 inputs within the fair value hierarchy). The impairment test indicated that a proved property impairment had occurred, and the Company therefore recorded a non-cash impairment charge to reduce the carrying value of the impaired property to its fair value. Goodwill Impairment. The Company tests goodwill for impairment annually in the second quarter or whenever events or changes in circumstances indicate that the fair value of its reporting unit may have been reduced below its carrying value. The Company performed its annual goodwill impairment test as of June 30, 2015, and determined that no impairment had occurred. However, as a result of a sustained decrease in the price of Whiting’s common stock during the third quarter of 2015 caused by a significant decline in crude oil and natural gas prices over that same period, the Company performed another goodwill impairment test as of September 30, 2015. The fair value of the Company’s reporting unit was ascribed using an income approach analysis based on the Company’s net discounted future cash flows and a market approach analysis. The discounted cash flows are based on management’s expectations for the future. Unobservable inputs include estimates of future oil and gas production from the Company’s reserve reports, commodity prices based on sales contract terms or NYMEX forward price curves as of the date of the estimate (adjusted for basis differentials), operating and development costs, and a discount rate based on the Company’s weighted-average cost of capital (all of which are designated as Level 3 inputs within the fair value hierarchy). The impairment test performed by the Company indicated that the fair value of its reporting unit was less than its carrying amount, and further that there was no remaining implied fair value attributable to goodwill. Based on these results, the Company recorded a non-cash impairment charge to reduce the carrying value of goodwill to zero.

DEFERRED COMPENSATION

DEFERRED COMPENSATION	9 Months Ended
	Sep. 30, 2015
DEFERRED COMPENSATION [Abstract]
DEFERRED COMPENSATION	8. DEFERRED COMPENSATION Production Participation Plan —The Company had a Production Participation Plan (the “Plan”) in which all employees participated. On June 11, 2014, the Board of Directors of the Company terminated the Plan effective December 31, 2013. Prior to Plan termination, interests in oil and gas properties acquired, developed or sold during the year were allocated to the Plan on an annual basis as determined by the Compensation Committee of the Company’s Board of Directors. Once allocated, the interests (not legally conveyed) were fixed. Interest allocations prior to 1995 consisted of 2% ‑ 3% overriding royalty interests. Interest allocations after 1995 were 1.75% ‑ 5% of oil and gas sales less lease operating expenses and production taxes. Employees vested in the Plan ratably at 20% per year over a five -year period. However, pursuant to the terms of the Plan, upon Plan termination all employees fully vested, and the Company was required to distribute to each Plan participant an amount, based upon the valuation method set forth in the Plan, in a lump sum payment twelve months after the date of termination. This distribution included the value of proved undeveloped oil and gas properties awarded upon Plan termination and was based on forecasted commodity prices for crude oil, NGLs and natural gas as of December 31, 2013. In January 2015, a portion of the amount due to Plan participants representing a regular distribution under the Plan was paid totaling $41 million, and in June 2015, the remaining fully vested amount due to Plan participants was paid totaling $72 million. Accrued compensation expense under the Plan for the nine months ended September 30, 2014 primarily related to the change in liability for employee vestings and PUDs assigned upon Plan termination and amounted to $24 million charged to general and administrative expense and $2 million charged to exploration expense. Prior to Plan termination, the Company recorded non-cash changes in the present value of estimated future payments under the Plan as a separate line item in the consolidated statements of income.

SHAREHOLDERS' EQUITY AND NONCON

SHAREHOLDERS' EQUITY AND NONCONTROLLING INTEREST	9 Months Ended
	Sep. 30, 2015
SHAREHOLDERS' EQUITY AND NONCONTROLLING INTEREST [Abstract]
SHAREHOLDERS' EQUITY AND NONCONTROLLING INTEREST	9. SHAREHOLDERS ’ EQUITY AND NONCONTROLLING INTEREST Common Stock Offering — In March 2015, the Company completed a public offering of its common stock, selling 35,000,000 shares of common stock at a price of $30.00 per share and providing net proceeds of approximately $1.0 billion after underwriter’s fees. In addition, the Company granted the underwriter a 30 -day option to purchase up to an additional 5,250,000 shares of common stock. On April 1, 2015 , the underwriter exercised its right to purchase an additional 2,000,000 shares of common stock, providing additional net proceeds of $61 million. The Company used the net proceeds from these offerings to repay a portion of the debt outstanding under its credit agreement, as well as for general corporate purposes. Equity Incentive Plan —At the Company’s 2013 Annual Meeting held on May 7, 2013, shareholders approved the Whiting Petroleum Corporation 2013 Equity Incentive Plan (the “2013 Equity Plan”), which replaced the Whiting Petroleum Corporation 2003 Equity Incentive Plan (the “2003 Equity Plan”) and includes the authority to issue 5,300,000 shares of the Company’s common stock. Upon shareholder approval of the 2013 Equity Plan, the 2003 Equity Plan was terminated. The 2003 Equity Plan continues to govern awards that were outstanding as of the date of its termination, which remain in effect pursuant to their terms. Any shares netted or forfeited after May 7, 2013 under the 2003 Equity Plan will be available for future issuance under the 2013 Equity Plan. Under the 2013 Equity Plan, no employee or officer participant may be granted options for more than 600,000 shares of common stock, stock appreciation rights relating to more than 600,000 shares of common stock, or more than 300,000 shares of restricted stock during any calendar year. On December 8, 2014, the Company increased the number of shares issuable under the 2013 Equity Plan by 978,161 shares to accommodate for the conversion of Kodiak’s outstanding equity awards to Whiting equity awards upon closing of the Kodiak Acquisition. Any shares netted or forfeited under this increased availability will be cancelled and will not be available for future issuance under the 2013 Equity Plan. As of September 30, 2015 , 4,095,721 shares of common stock remained available for grant under the 2013 Equity Plan. Noncontrolling Interest —The Company’s noncontrolling interest represents an unrelated third party’s 25% ownership interest in Sustainable Water Resources, LLC. The table below summarizes the activity for the equity attributable to the noncontrolling interest (in thousands): Nine Months Ended September 30, 2015 2014 Balance at January 1 $ $ Net loss Balance at September 30 $ $

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2015
INCOME TAXES [Abstract]
INCOME TAXES	10. INCOME TAXES Income tax expense during interim periods is based on applying an estimated annual effective income tax rate to year-to-date income, plus any significant unusual or infrequently occurring items which are recorded in the interim period. The provision for income taxes for the three and nine months ended September 30, 2015 and 2014 differs from the amount that would be provided by applying the statutory U.S. federal income tax rate of 35% to pre-tax income primarily because of state income taxes and estimated permanent differences. The computation of the annual estimated effective tax rate at each interim period requires certain estimates and significant judgment including, but not limited to, the expected operating income for the year, projections of the proportion of income earned and taxed in various jurisdictions, permanent and temporary differences, and the likelihood of recovering deferred tax assets generated in the current year. The accounting estimates used to compute the provision for income taxes may change as new events occur, more experience is obtained, additional information becomes known or as the tax environment changes.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2015
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	11. EARNINGS PER SHARE The reconciliations between basic and diluted earnings or loss per share are as follows (in thousands, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Basic Earnings (Loss) Per Share Numerator: Net income (loss) available to common shareholders, basic $ $ $ $ Denominator: Weighted average shares outstanding, basic Diluted Earnings (Loss) Per Share Numerator: Net income (loss) available to common shareholders, diluted $ $ $ $ Denominator: Weighted average shares outstanding, basic Restricted stock and stock options - - Weighted average shares outstanding, diluted Earnings (loss) per common share, basic $ $ $ $ Earnings (loss) per common share, diluted $ $ $ $ During the three months ended September 30, 2015 , the Company had a net loss and therefore the diluted earnings per share calculation for that period excludes the anti-dilutive effect of 94,513 shares of restricted stock and 59,320 stock options. In addition, the diluted earnings per share calculation for the three months ended September 30, 2015 excludes (i) the anti- dilutive effect of 359,270 incremental shares of restricted stock that did not meet its market-based vesting criteria as of September 30, 2015 and (ii) the dilutive effect of 712,778 common shares for stock options that were out-of-the-money. During the nine months ended September 30, 2015 , the Company had a net loss and therefore the diluted earnings per share calculation for that period excludes the anti-dilutive effect of 442,713 shares of restricted stock and 94,434 stock options. In addition, the diluted earnings per share calculation for the nine months ended September 30, 2015 excludes (i) the anti- dilutive effect of 644,233 incremental shares of restricted stock that did not meet its market-based vesting criteria as of September 30, 2015 and (ii) the dilutive effect of 405,065 common shares for stock options that were out-of-the-money. As discussed in the “Long-Term Debt” footnote, the Company has Convertible Senior Notes whereby it has the option to settle the conversion of such notes with cash, shares of common stock or any combination thereof. The Company’s intent is to settle the principal amount of the Convertible Senior Notes in cash upon conversion. As a result, only the amount by which the conversion value exceeds the aggregate principal amount of the notes (the “conversion spread”) is considered in the diluted earnings per share computation under the treasury stock method. As of September 30, 2015 , the conversion value did not exceed the principal amount of the notes, and accordingly, there was no impact to diluted earnings per share or the related disclosures for that period.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	12. COMMITMENTS AND CONTINGENCIES Delivery Commitments —In the second quarter of 2015, the Company entered into a physical delivery contract requiring the Company to deliver fixed volumes of crude oil from its Sanish field in Mountrail County, North Dakota. Under the terms of the contract, the Company is committed to deliver 5.5 MMBbl of crude oil per year for a term of seven years beginning when the related pipeline is placed in service, which is expected to occur in the second half of 2016. If the Company fails to deliver the committed volumes, it will be required to pay a deficiency payment of $7.00 per undelivered Bbl (or up to $38 million per year), subject to upward adjustment, over the duration of the contract. However, the Company expects to fully deliver the contracted volumes and therefore avoid any payments for deficiencies. Drilling Rig Contracts —As of September 30, 2015, the Company had 10 drilling rigs under long-term contract , including two that were on standby. Four of these agreements expire in 2016 and six expire in 2017. As of September 30, 2015, the Company’s minimum future payments under these contracts totaled $25 million for the remainder of 2015, $84 million in 2016 and $33 million in 2017. As of September 30, 2015, early termination of these contracts would require penalties of $119 million, which would be in lieu of paying the remaining drilling commitments under these contracts.

ADOPTED AND RECENTLY ISSUED ACC

ADOPTED AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2015
ADOPTED AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS [Abstract]
ADOPTED AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	13. ADOPTED AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In September 2015, the FASB issued Accounting Standards Update No. 2015-16, Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”). This ASU eliminates the requirement to retrospectively apply measurement-period adjustments made to provisional amounts recognized in a business combination. Under ASU 2015-16, the cumulative impact of a measurement-period adjustment (including the impact on prior periods) should instead be recognized in the reporting period in which the adjustment is identified. ASU 2015-16 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. This standard should be applied prospectively, and early adoption is permitted. The adoption of this standard is not expected to have a significant impact on the Company’s consolidated financial statements. In July 2015, the FASB issued Accounting Standards Update No. 2015-11, Simplifying the Measurement of Inventory (“ASU 2015-11”). This ASU requires entities to measure most inventory at the lower of cost and net realizable value, thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market. ASU 2015-11 is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years and should be applied prospectively. Early adoption is permitted. The adoption of this standard will not have a material impact on the Company’s consolidated financial statements. In April 2015, the FASB issued Accounting Standards Update No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). The objective of ASU 2015-03 is to simplify the presentation of debt issuance costs in financial statements by presenting such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. In August 2015, the FASB issued Accounting Standards Update No. 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (“ASU 2015-15”). This ASU amends ASU 2015-03 which had not addressed the balance sheet presentation of debt issuance costs incurred in connection with line-of-credit arrangements. Under ASU 2015-15, a Company may defer debt issuance costs associated with line-of-credit arrangements and present such costs as an asset, subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings. ASU 2015-03 and ASU 2015-15 are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and should be applied retrospectively. Early adoption is permitted. The adoption of these standards will not have an impact on the Company’s consolidated financial statements, other than balance sheet reclassifications. In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements – Going Concern (“ASU 2014-15”). The objective of ASU 2014-15 is to provide guidance on management’s responsibility to evaluate whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 is effective for fiscal years ending after December 15, 2016 and annual and interim periods thereafter. This standard is not expected to have an impact on the Company’s consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014 ‑09”). The objective of ASU 2014-09 is to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards. ASU 2014-09 was effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, however, in August 2015, the FASB issued Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date (“ASU 2015-14”), which deferred the effective date of ASU 2014 ‑09 for one year. ASU 2015-14 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. The standards permit retrospective application using either of the following methodologies: (i) restatement of each prior reporting period presented or (ii) recognition of a cumulative-effect adjustment as of the date of initial application. The Company is currently evaluating the impact of adopting ASU 2014 ‑09 and ASU 2015-14 , including the transition method to be applied , however the standards are not expected to have a significant effect on its consolidated financial statements.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 30, 2015
SUBSEQUENT EVENT [Abstract]
SUBSEQUENT EVENT	14. SUBSEQUENT EVENT In October 2015, Whiting Oil and Gas entered into an amendment to its existing credit agreement in connection with the November 1, 2015 regular redetermination that (i) decreased the borrowing base under the facility from $4.5 billion to $4.0 billion, with no change to the aggregate commitments of $3.5 billion, (ii) extended the interim covenant period (as defined in the credit agreement) until April 1, 2018 and (iii) added a requirement that the Company maintain a ratio of the last four quarters’ EBITDAX to consolidated interest charges (as defined in the credit agreement) of not less than 2.25 to 1.0 during the interim covenant period. Refer to the “Long-Term Debt” footnote for more information.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2015
BASIS OF PRESENTATION [Abstract]
Consolidated Financial Statements	Consolidated Financial Statements —The unaudited consolidated financial statements include the accounts of Whiting Petroleum Corporation, its consolidated subsidiaries and Whiting’s pro rata share of the accounts of Whiting USA Trust I (“Trust I”) pursuant to Whiting’s 15.8% ownership interest in Trust I. On January 28, 2015, the net profits interest that Whiting conveyed to Trust I terminated as a result of 9.11 MMBOE (which amount is equivalent to 8.20 MMBOE attributable to the 90% net profits interest) having been produced and sold from the underlying properties. Upon termination, the net profits interest in the underlying properties reverted back to Whiting. Investments in entities which give Whiting significant influence, but not control, over the investee are accounted for using the equity method. Under the equity method, investments are stated at cost plus the Company’s equity in undistributed earnings and losses. All intercompany balances and transactions have been eliminated upon consolidation. These financial statements have been prepared in accordance with GAAP and the SEC rules and regulations for interim financial reporting. In the opinion of management, the accompanying financial statements include all adjustments (consisting of normal recurring accruals and adjustments) necessary to present fairly, in all material respects, the Company’s interim results. However, operating results for the periods presented are not necessarily indicative of the results that may be expected for the full year. The consolidated financial statements and related notes included in this Quarterly Report on Form 10-Q should be read in conjunction with Whiting’s consolidated financial statements and related notes included in the Company’s 2014 Annual Report on Form 10-K. Except as disclosed herein, there have been no material changes to the information disclosed in the notes to the consolidated financial statements included in the Company’s 2014 Annual Report on Form 10 ‑K.
Earnings Per Share	Earnings Per Share —Basic earnings per common share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during each period. Diluted earnings per common share is calculated by dividing adjusted net income available to common shareholders by the weighted average number of diluted common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for the diluted earnings per share calculations consist of unvested restricted stock awards, outstanding stock options and contingently issuable shares of convertible debt, all using the treasury stock method. In the computation of diluted earnings per share, excess tax benefits that would be created upon the assumed vesting of unvested restricted shares or the assumed exercise of stock options (i.e. hypothetical excess tax benefits) are included in the assumed proceeds component of the treasury stock method to the extent that such excess tax benefits are more likely than not to be realized. In addition, to the extent the conversion value of the convertible debt exceeds the aggregate principal amount of the notes, such conversion spread is included in the diluted earnings per share computation under the treasury stock method. When a loss from continuing operations exists, all potentially dilutive securities are anti-dilutive and are therefore excluded from the computation of diluted earnings per share.

OIL AND GAS PROPERTIES (Tables)

OIL AND GAS PROPERTIES (Tables)	9 Months Ended
	Sep. 30, 2015
OIL AND GAS PROPERTIES [Abstract]
Net capitalized costs related to oil and gas producing activities	September 30, December 31, 2015 2014 Proved leasehold costs $ $ Unproved leasehold costs Costs of completed wells and facilities Wells and facilities in progress Total oil and gas properties, successful efforts method Accumulated depletion Oil and gas properties, net $ $

ACQUISITIONS AND DIVESTITURES (

ACQUISITIONS AND DIVESTITURES (Tables)	9 Months Ended
	Sep. 30, 2015
ACQUISITIONS AND DIVESTITURES [Abstract]
Assets acquired and liabilities assumed	Consideration: Fair value of Whiting’s common stock issued (1) $ Fair value of Kodiak restricted stock units assumed by Whiting (2) Fair value of Kodiak options assumed by Whiting Total consideration $ Fair value of liabilities assumed: Accounts payable trade $ Accrued capital expenditures Revenues and royalties payable Accrued liabilities and other Taxes payable Accrued interest Current deferred tax liability Long-term debt Asset retirement obligations Other long-term liabilities Amount attributable to liabilities assumed $ Fair value of assets acquired: Cash and cash equivalents $ Accounts receivable trade, net Derivative assets Prepaid expenses and other Oil and gas properties, successful efforts method: Proved properties Unproved properties Other property and equipment Long-term deferred tax asset Other long-term assets Amount attributable to assets acquired $ Goodwill $ (1) 47,546,139 shares of Whiting common stock at $37.25 per share (closing price as of December 5, 2014) based on Kodiak’s 268,622,497 common shares outstanding at closing. (2) 257,601 shares of Whiting common stock issued at $37.25 per share (closing price as of December 5, 2014) based on Kodiak’s 1,455,409 restricted stock units held by employees as of December 8, 2014.

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2015
LONG-TERM DEBT [Abstract]
Schedule of long-term debt	September 30, December 31, 2015 2014 Credit agreement $ - $ 6.5% Senior Subordinated Notes due 2018 5% Senior Notes due 2019 8.125% Senior Notes due 2019, including unamortized debt premium of $20,639 and $23,742 , respectively 1.25% Convertible Senior Notes due 2020, including unamortized debt discount of $216,210 - 5.75% Senior Notes due 2021, including unamortized debt premium of $2,667 and $3,180 , respectively 5.5% Senior Notes due 2021, including unamortized debt premium of $867 - 5.5% Senior Notes due 2022, including unamortized debt premium of $993 - 6.25% Senior Notes due 2023 - Total debt $ $
Summary of margin rates and commitment fees	Applicable Applicable Margin for Base Margin for Commitment Ratio of Outstanding Borrowings to Borrowing Base Rate Loans Eurodollar Loans Fee Less than 0.25 to 1.0 0.50% 1.50% 0.375% Greater than or equal to 0.25 to 1.0 but less than 0.50 to 1.0 0.75% 1.75% 0.375% Greater than or equal to 0.50 to 1.0 but less than 0.75 to 1.0 1.00% 2.00% 0.50% Greater than or equal to 0.75 to 1.0 but less than 0.90 to 1.0 1.25% 2.25% 0.50% Greater than or equal to 0.90 to 1.0 1.50% 2.50% 0.50%
Schedule of convertible senior notes	Liability component: Principal $ Less: note discount Net carrying value $ Equity component (1) $ (1) Recorded in additional paid-in capital, net of $ 5 million of issuance costs and $88 million of deferred taxes.

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	9 Months Ended
	Sep. 30, 2015
ASSET RETIREMENT OBLIGATIONS [Abstract]
Schedule of reconciliation of the Company's asset retirement obligations	Asset retirement obligation at January 1, 2015 $ Additional liability incurred Revisions to estimated cash flows Accretion expense Obligations on sold properties Liabilities settled Asset retirement obligation at September 30, 2015 $

DERIVATIVE FINANCIAL INSTRUME27

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Financial Instruments [Line Items]
Schedule of effects of commodity derivative instruments	(Gain) Loss Recognized in Income Not Designated as Nine Months Ended September 30, ASC 815 Hedges Income Statement Classification 2015 2014 Commodity contracts Commodity derivative (gain) loss, net $ $ Embedded commodity contracts Commodity derivative (gain) loss, net - Total $ $ (Gain) Loss Recognized in Income Not Designated as Three Months Ended September 30, ASC 815 Hedges Income Statement Classification 2015 2014 Commodity contracts Commodity derivative (gain) loss, net $ $ Embedded commodity contracts Commodity derivative (gain) loss, net - Total $ $
Location and fair value of derivative instruments	September 30, 2015 (1) Net Gross Recognized Recognized Gross Fair Value Not Designated as Assets/ Amounts Assets/ ASC 815 Hedges Balance Sheet Classification Liabilities Offset Liabilities Derivative assets: Commodity contracts - current Derivative assets $ $ $ Commodity contracts - non-current Other long-term assets Total derivative assets $ $ $ Derivative liabilities: Commodity contracts - current Accrued liabilities and other $ $ $ Commodity contracts - non-current Other long-term liabilities Total derivative liabilities $ $ $ December 31, 2014 (1) Net Gross Recognized Recognized Gross Fair Value Not Designated as Assets/ Amounts Assets/ ASC 815 Hedges Balance Sheet Classification Liabilities Offset Liabilities Derivative assets: Commodity contracts - current Derivative assets $ $ $ Commodity contracts - non-current Other long-term assets - Total derivative assets $ $ $ Derivative liabilities: Commodity contracts - current Accrued liabilities and other $ $ $ - Total derivative liabilities $ $ $ - (1) Because counterparties to the Company’s financial derivative contracts are lenders under Whiting Oil and Gas’ credit agreement, which eliminates its need to post or receive collateral associated with its derivative positions, columns for cash collateral pledged or received have not been presented in the tables above.
Whiting Petroleum Corporation [Member]
Derivative Financial Instruments [Line Items]
Derivative instruments	Whiting Petroleum Corporation Derivative Contracted Crude Weighted Average NYMEX Price Instrument Period Oil Volumes (Bbl) Collar Ranges for Crude Oil (per Bbl) Three-way collars (1) Oct - Dec 2015 $44.48 - $54.83 - $70.54 Jan - Dec 2016 $43.75 - $53.75 - $74.40 Collars Oct - Dec 2015 $51.06 - $57.37 Jan - Dec 2016 $51.00 - $63.48 Jan - Dec 2017 $53.00 - $70.44 Swaps Oct - Dec 2015 $76.25 Total (1) A three-way collar is a combination of options: a sold call, a purchased put and a sold put. The sold call establishes a maximum price (ceiling) Whiting will receive for the volumes under contract. The purchased put establishes a minimum price (floor), unless the market price falls below the sold put (sub-floor), at which point the minimum price would be NYMEX plus the difference between the purchased put and the sold put strike price.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
FAIR VALUE MEASUREMENTS [Abstract]
Fair value assets and liabilities measured on a recurring basis	Total Fair Value Level 1 Level 2 Level 3 September 30, 2015 Financial Assets Commodity derivatives – current $ - $ $ - $ Commodity derivatives – non-current - - Total financial assets $ - $ $ - $ Financial Liabilities Commodity derivatives – current $ - $ - $ $ Commodity derivatives – non-current - - Total financial liabilities $ - $ - $ $ Total Fair Value Level 1 Level 2 Level 3 December 31, 2014 Financial Assets Commodity derivatives – current $ - $ $ $ Commodity derivatives – non-current - - Total financial assets $ - $ $ $
Reconciliation of changes in the fair value of financial assets (liabilities) designated as Level 3 in the valuation hierarchy	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 (2) 2015 2014 (2) Fair value asset (liability), beginning of period $ $ $ $ Unrealized losses on commodity derivative contracts included in earnings (1) Transfers into (out of) Level 3 - - - - Fair value asset (liability), end of period $ $ $ $ (1) Included in commodity derivative (gain) loss in the consolidated statements of income. (2) The fair value asset designated as Level 3 during the three and nine months ended September 30, 2014 consisted of the Company’s embedded commodity derivative contract, which has since been terminated and therefore had a fair value of zero as of December 31, 2014. Refer to the “Derivative Financial Instruments” footnote for more information.
Significant unobservable inputs used in the fair value measurement	Fair Value at September 30, 2015 Valuation Unobservable Amount (in thousands) Technique Input (per Bbl) Commodity derivative contract ($10,769) Income approach Market differential for crude oil $5.02
Non-financial assets and liabilities measured at fair value on a nonrecurring basis	Impairment Loss (Before Tax) Net Carrying Three and Nine Value as of Months Ended September 30, Fair Value Measurements Using September 30, 2015 Level 1 Level 2 Level 3 2015 Proved property (1) $ $ - $ - $ $ Goodwill (2) - - - - Total non-recurring assets at fair value $ $ - $ - $ $ _____________________ (1) During the three and nine months ended September 30, 2015, proved oil and gas properties with a previous carrying amount of $2.1 billion were written down to their fair value of $531 million, resulting in a non-cash impairment charge of $1.5 billion which was recorded within exploration and impairment expense. The impaired properties consisted of the Company’s North Ward Estes field in Texas and other non-core proved oil and gas properties primarily in Texas, Wyoming, North Dakota and Colorado that are not currently being developed due to depressed oil and gas prices. Also during the three and nine months ended September 30, 2015, proved CO 2 properties at the Bravo Dome field in New Mexico and the McElmo Dome field in Colorado with a previous carrying amount of $63 million were written down to their fair value of $1 million, resulting in a non-cash impairment charge of $62 million which was also recorded within exploration and impairment expense. The Company did not recognize any impairment write-downs with respect to its proved oil and gas or CO 2 properties during the comparable 2014 reporting periods. (2) During the three and nine months ended September 30, 2015, goodwill related to the Kodiak Acquisition with a previous carrying amount of $870 million was written down to its fair value of zero , resulting in a non-cash impairment charge of $870 million which was recorded as a separate line in the consolidated statements of income. The Company did not recognize any goodwill impairment write-downs during the comparable 2014 reporting periods.

SHAREHOLDERS' EQUITY AND NONC29

SHAREHOLDERS' EQUITY AND NONCONTROLLING INTEREST (Tables)	9 Months Ended
	Sep. 30, 2015
SHAREHOLDERS' EQUITY AND NONCONTROLLING INTEREST [Abstract]
Schedule of noncontrolling interest	Nine Months Ended September 30, 2015 2014 Balance at January 1 $ $ Net loss Balance at September 30 $ $

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2015
EARNINGS PER SHARE [Abstract]
Reconciliations between basic and diluted earnings per share	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Basic Earnings (Loss) Per Share Numerator: Net income (loss) available to common shareholders, basic $ $ $ $ Denominator: Weighted average shares outstanding, basic Diluted Earnings (Loss) Per Share Numerator: Net income (loss) available to common shareholders, diluted $ $ $ $ Denominator: Weighted average shares outstanding, basic Restricted stock and stock options - - Weighted average shares outstanding, diluted Earnings (loss) per common share, basic $ $ $ $ Earnings (loss) per common share, diluted $ $ $ $

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - Whiting USA Trust I [Member] - MBoe	Jan. 28, 2015	Sep. 30, 2015
Consolidation disclosures
Company retained ownership (as a percent)		15.80%
Termination of net profits interest, cumulative production from underlying properties (in MBOE)	9,110
Proved producing reserves conveyed (in MBOE)	8,200
Entitled to receive percentage of net proceeds from sale of oil and gas production	90.00%

OIL AND GAS PROPERTIES (Details

OIL AND GAS PROPERTIES (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
OIL AND GAS PROPERTIES [Abstract]
Proved leasehold costs	$ 3,129,299	$ 3,637,026
Unproved leasehold costs	776,502	1,232,040
Costs of completed wells and facilities	9,426,149	9,319,808
Wells and facilities in progress	463,951	760,828
Total oil and gas properties, successful efforts method	13,795,901	14,949,702
Accumulated depletion	(2,972,126)	(3,003,270)
Oil and gas properties, net	$ 10,823,775	$ 11,946,432

ACQUISITIONS AND DIVESTITURES33

ACQUISITIONS AND DIVESTITURES (Narrative I) (Details) $ / shares in Units, $ in Thousands	Jun. 01, 2015USD ($)stateitem	May. 01, 2015USD ($)stateitem	Dec. 08, 2014USD ($)aitemshares	Oct. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 05, 2014$ / shares
Business Acquisition [Line Items]
Proceeds from sale	$ 150,000	$ 108,000
Gain (loss) on sale	$ (114,000)	$ 31,000
Number of well sold | item	2,000
Number of fields, in which sold wells are located | item	132	187
Number of states, in which sold wells are located | state	10	14
Goodwill						$ 875,676
Non-Core Producing Oil And Gas Wells And Undeveloped Acreage [Member]
Business Acquisition [Line Items]
Proceeds from sale					$ 78,000
Gain (loss) on sale					21,000
Non-Core Producing Oil And Gas Wells And Undeveloped Acreage [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Proceeds from sale				$ 52,000
Kodiak [Member]
Business Acquisition [Line Items]
Shares exchanged per each share owned | shares			0.177
Total consideration			$ 1,788,213
Aggregate purchase price			4,300,000
Outstanding debt			2,500,000
Cash acquired from acquisition			$ 19,000
Gross acquisition area (in acres) | a			327,000
Net acquisition area (in acres) | a			178,000
Number of wells acquired | item			778
Goodwill adjustment since acquisition					6,000
Goodwill			$ 869,713		$ 0
Kodiak [Member] | Wyoming And Colorado [Member]
Business Acquisition [Line Items]
Net acquisition area (in acres) | a			10,000
Common Stock [Member] | Kodiak [Member]
Business Acquisition [Line Items]
Awards Assumed in Kodiak Acquisition (in shares) | shares			47,546,139
Closing price, per share | $ / shares							$ 37.25

ACQUISITIONS AND DIVESTITURES34

ACQUISITIONS AND DIVESTITURES (Narrative II) (Details) $ in Millions	Jun. 01, 2015USD ($)	May. 01, 2015USD ($)	Mar. 31, 2014USD ($)a
Acquisitions and divestitures [Line Items]
Proceeds from sale	$ 150	$ 108
Pre tax gain on Divestiture	$ (114)	$ 31
Big Tex prospect properties [Member]
Acquisitions and divestitures [Line Items]
Gross acquisition area (in acres) | a			49,900
Net acquisition area (in acres) | a			41,000
Proceeds from sale			$ 76
Pre tax gain on Divestiture			$ 12

ACQUISITIONS AND DIVESTITURES35

ACQUISITIONS AND DIVESTITURES (Preliminary Consideration Transferred) (Details) - USD ($) $ / shares in Units, $ in Thousands		Dec. 08, 2014	Sep. 30, 2015	Dec. 31, 2014	Dec. 05, 2014
Business Acquisition [Line Items]
Unproved properties			$ 776,502	$ 1,232,040
Goodwill				$ 875,676
Common stock, shares issued			206,455,594	168,346,020
Restricted Stock Units (RSUs) [Member]
Business Acquisition [Line Items]
Closing price, per share					$ 37.25
Kodiak [Member] | Restricted Stock Units (RSUs) [Member]
Business Acquisition [Line Items]
Common stock, shares issued		1,455,409
Kodiak [Member]
Business Acquisition [Line Items]
Total consideration		$ 1,788,213
Accounts payable trade		18,390
Accrued capital expenditures		100,406
Revenues and royalties payable		57,423
Accrued liabilities and other		42,964
Taxes payable		12,807
Accrued interest		18,070
Current deferred tax liability		31,034
Long-term debt		2,500,875
Asset retirement obligations		8,646
Other long-term liabilities		15,735
Amount attributable to liabilities assumed		2,806,350
Cash and cash equivalents		18,879
Accounts receivable trade, net		220,944
Derivative assets		85,718
Prepaid expenses and other		8,552
Proved properties		2,266,607
Unproved properties		1,000,396
Other property and equipment		11,347
Long-term deferred tax asset		106,758
Other long-term assets		5,649
Amount attributable to assets acquired		3,724,850
Goodwill		$ 869,713	$ 0
Common Stock [Member] | Restricted Stock Units (RSUs) [Member]
Business Acquisition [Line Items]
Awards Assumed in Kodiak Acquisition (in shares)		257,601
Common Stock [Member] | Kodiak [Member]
Business Acquisition [Line Items]
Common stock, shares issued		268,622,497
Common Stock [Member]
Business Acquisition [Line Items]
Closing price, per share					$ 37.25
Common Stock [Member] | Kodiak [Member]
Business Acquisition [Line Items]
Fair value of Whiting’s common stock issued	[1]	$ 1,771,094
Common Stock [Member] | Kodiak [Member] | Restricted Stock Units (RSUs) [Member]
Business Acquisition [Line Items]
Fair value of Whiting’s common stock issued	[2]	9,596
Common Stock [Member] | Kodiak [Member] | Stock Option [Member]
Business Acquisition [Line Items]
Fair value of Whiting’s common stock issued		$ 7,523
Common Stock [Member] | Common Stock [Member]
Business Acquisition [Line Items]
Awards Assumed in Kodiak Acquisition (in shares)		47,546,139
[1]	47,546,139 shares of Whiting common stock at $37.25 per share (closing price as of December 5, 2014) based on Kodiak's 268,622,497 common shares outstanding at closing.
[2]	257,601 shares of Whiting common stock issued at $37.25 per share (closing price as of December 5, 2014) based on Kodiak's 1,455,409 restricted stock units held by employees as of December 8, 2014.

LONG-TERM DEBT (Credit agreemen

LONG-TERM DEBT (Credit agreement) (Details) - Whiting Oil and Gas Corporation [Member] - Credit Agreement [Member] $ in Millions	1 Months Ended	9 Months Ended
	Oct. 31, 2015USD ($)	Sep. 30, 2015USD ($)
Debt disclosures [Line Items]
Maximum borrowing capacity of credit facility		$ 4,500
Maximum aggregate commitments		3,500
Borrowing capacity of credit facility, net of letter of credit		3,500
Outstanding borrowings under credit facility		0
Letters of credit borrowings outstanding		4
Portion of line of credit available for issuance of letters of credit		100
Amount of revolving credit agreement available for additional letters of credit under the agreement		96
Restricted net assets		4,100
Retained earnings free from restrictions		$ 0
Minimum consolidated current assets to consolidated current liabilities ratio (percentage)		1
Total senior secured debt to EBITDAX ratio (percentage)		2.5
Subsequent Event [Member]
Debt disclosures [Line Items]
Maximum borrowing capacity of credit facility	$ 4,000
Maximum aggregate commitments	$ 3,500
EBITDAX to consolidated interest charges	2.25
April 1, 2018 Or Commencement Of An Investment-Grade Debt Rating Period [Member]
Debt disclosures [Line Items]
Total debt to EBITDAX ratio (percentage)		4
Base Rate [Member]
Debt disclosures [Line Items]
Basis points added to reference rate (as a percent)		0.50%
Variable interest rate basis		federal funds
LIBOR [Member]
Debt disclosures [Line Items]
Basis points added to reference rate (as a percent)		1.00%
Variable interest rate basis		LIBOR

LONG-TERM DEBT (Schedule of lon

LONG-TERM DEBT (Schedule of long-term debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2013	Sep. 26, 2013	Sep. 30, 2010
Debt Instrument [Line Items]
Long-term debt	$ 5,254,646		$ 5,628,782
Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt			1,400,000
Senior Subordinated Notes [Member] | 6.5% Senior Subordinated Notes due 2018 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 350,000		$ 350,000
Interest rate on debt instrument (as a percent)	6.50%		6.50%			6.50%
Senior Notes [Member] | 5% Senior Notes due 2019 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 1,100,000		$ 1,100,000
Interest rate on debt instrument (as a percent)	5.00%		5.00%	5.00%
Senior Notes [Member] | 8.125% Senior Notes due 2019 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 818,189		$ 823,742
Interest rate on debt instrument (as a percent)	8.125%		8.125%
Unamortized debt premium	$ 20,639		$ 23,742
Senior Notes [Member] | 5.75% Senior Notes due 2021 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 1,202,667		$ 1,203,180
Interest rate on debt instrument (as a percent)	5.75%		5.75%	5.75%	5.75%
Unamortized debt premium	$ 2,667		$ 3,180
Senior Notes [Member] | 5.5% Senior Notes due 2021 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 350,867
Interest rate on debt instrument (as a percent)	5.50%		5.50%
Unamortized debt premium			$ 867
Senior Notes [Member] | 5.5% Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 400,993
Interest rate on debt instrument (as a percent)	5.50%		5.50%
Unamortized debt premium			$ 993
Senior Notes [Member] | 6.25% Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 750,000
Interest rate on debt instrument (as a percent)	6.25%
Convertible Senior Notes [Member] | 1.25% Convertible Senior Notes due 2020 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 1,033,790
Interest rate on debt instrument (as a percent)	1.25%
Unamortized debt discount	$ 216,210	$ 238,000

LONG-TERM DEBT (Summary of marg

LONG-TERM DEBT (Summary of margin rates and commitment fees) (Details) - Credit Agreement [Member] - Whiting Oil and Gas Corporation [Member]	9 Months Ended
	Sep. 30, 2015
Base Rate [Member]
Debt Instrument [Line Items]
Variable interest rate basis	federal funds
Applicable Margin for Loans (as percent)	0.50%
Less than 0.25 to 1.0 [Member]
Debt Instrument [Line Items]
Variable interest rate basis	LIBOR
Alternate variable interest rate basis	base loan rate
Range, less than	0.25
Commitment Fee (as a percent)	0.375%
Less than 0.25 to 1.0 [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Applicable Margin for Loans (as percent)	0.50%
Less than 0.25 to 1.0 [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Applicable Margin for Loans (as percent)	1.50%
Greater than or equal to 0.25 to 1.0 but less than 0.50 to 1.0 [Member]
Debt Instrument [Line Items]
Variable interest rate basis	LIBOR
Alternate variable interest rate basis	base loan rate
Range, greater than or equal to	0.25
Range, less than	0.50
Commitment Fee (as a percent)	0.375%
Greater than or equal to 0.25 to 1.0 but less than 0.50 to 1.0 [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Applicable Margin for Loans (as percent)	0.75%
Greater than or equal to 0.25 to 1.0 but less than 0.50 to 1.0 [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Applicable Margin for Loans (as percent)	1.75%
Greater than or equal to 0.50 to 1.0 but less than 0.75 to 1.0 [Member]
Debt Instrument [Line Items]
Variable interest rate basis	LIBOR
Alternate variable interest rate basis	base loan rate
Range, greater than or equal to	0.50
Range, less than	0.75
Commitment Fee (as a percent)	0.50%
Greater than or equal to 0.50 to 1.0 but less than 0.75 to 1.0 [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Applicable Margin for Loans (as percent)	1.00%
Greater than or equal to 0.50 to 1.0 but less than 0.75 to 1.0 [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Applicable Margin for Loans (as percent)	2.00%
Greater than or equal to 0.75 to 1.0 but less than 0.90 to 1.0 [Member]
Debt Instrument [Line Items]
Variable interest rate basis	LIBOR
Alternate variable interest rate basis	base loan rate
Range, greater than or equal to	0.75
Range, less than	0.90
Commitment Fee (as a percent)	0.50%
Greater than or equal to 0.75 to 1.0 but less than 0.90 to 1.0 [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Applicable Margin for Loans (as percent)	1.25%
Greater than or equal to 0.75 to 1.0 but less than 0.90 to 1.0 [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Applicable Margin for Loans (as percent)	2.25%
Greater than or equal to 0.90 to 1.0 [Member]
Debt Instrument [Line Items]
Variable interest rate basis	LIBOR
Alternate variable interest rate basis	base loan rate
Range, greater than or equal to	0.90
Commitment Fee (as a percent)	0.50%
Greater than or equal to 0.90 to 1.0 [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Applicable Margin for Loans (as percent)	1.50%
Greater than or equal to 0.90 to 1.0 [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Applicable Margin for Loans (as percent)	2.50%

LONG-TERM DEBT (Senior notes an

LONG-TERM DEBT (Senior notes and senior subordinated notes) (Details) - USD ($)	May. 01, 2015	Mar. 06, 2015	Sep. 30, 2015	Dec. 31, 2014	Dec. 08, 2014	Sep. 30, 2013	Sep. 26, 2013	Sep. 30, 2010
Debt disclosures [Line Items]
Accrued liabilities and other			$ 142,316,000	$ 169,193,000
Loss on early extinguishment of debt			$ (5,634,000)
Senior Subordinated Notes [Member] | 6.5% Senior Subordinated Notes due 2018 [Member]
Debt disclosures [Line Items]
Interest rate on debt instrument (as a percent)			6.50%	6.50%				6.50%
Notes Issued								$ 350,000,000
Estimated fair value of Notes			$ 319,000,000	$ 345,000,000
Senior Notes [Member] | 5% Senior Notes due 2019 [Member]
Debt disclosures [Line Items]
Interest rate on debt instrument (as a percent)			5.00%	5.00%		5.00%
Notes Issued						$ 1,100,000,000
Estimated fair value of Notes			$ 946,000,000	$ 1,000,000,000
Senior Notes [Member] | 5.75% Senior Notes due 2021 [Member]
Debt disclosures [Line Items]
Interest rate on debt instrument (as a percent)			5.75%	5.75%		5.75%	5.75%
Notes Issued						$ 800,000,000	$ 400,000,000
Estimated fair value of Notes			$ 1,000,000,000	$ 1,100,000,000
Premium as a percentage of par							101.00%
Senior Notes [Member] | 8.125% Senior Notes due 2019 [Member]
Debt disclosures [Line Items]
Interest rate on debt instrument (as a percent)			8.125%	8.125%
Notes Issued			$ 800,000,000
Estimated fair value of Notes			758,000,000	$ 812,000,000	$ 824,000,000
Repurchase of notes			$ 2,475,000
Note balance at repurchase date		$ 2,000,000
Senior Notes [Member] | 5.5% Senior Notes due 2021 [Member]
Debt disclosures [Line Items]
Interest rate on debt instrument (as a percent)			5.50%	5.50%
Notes Issued			$ 350,000,000
Notes repurchased, principal amount	$ 4,000,000
Estimated fair value of Notes					351,000,000
Repurchase of notes			$ 353,500,000
Note balance at repurchase date		346,000,000
Senior Notes [Member] | 5.5% Senior Notes due 2022 [Member]
Debt disclosures [Line Items]
Interest rate on debt instrument (as a percent)			5.50%	5.50%
Notes Issued			$ 400,000,000
Notes repurchased, principal amount	1,000,000
Estimated fair value of Notes					$ 401,000,000
Repurchase of notes			$ 404,000,000
Note balance at repurchase date		399,000,000
Senior Notes [Member] | Repurchased Kodiak Notes [Member]
Debt disclosures [Line Items]
Notes repurchased, principal amount		1,550,000,000
Repurchase of notes	$ 5,000,000	$ 760,000,000
Percentage of redemption price	101.00%	101.00%	101.00%
Loss on early extinguishment of debt			$ 6,000,000
Cash charge related to the redemption premium			8,000,000
Non cash charges			$ 2,000,000
Senior Notes [Member] | 6.25% Senior Notes due 2023 [Member]
Debt disclosures [Line Items]
Interest rate on debt instrument (as a percent)			6.25%
Notes Issued			$ 750,000,000
Estimated fair value of Notes			$ 660,000,000

LONG-TERM DEBT (Convertible sen

LONG-TERM DEBT (Convertible senior notes) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)$ / shares$ / item	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)item$ / shares$ / item	Sep. 30, 2014USD ($)	Mar. 31, 2015USD ($)	Mar. 27, 2015USD ($)
Debt Instrument [Line Items]
Interest expense	$ 84,551,000	$ 39,632,000	$ 247,984,000	$ 120,821,000
1.25% Convertible Senior Notes due 2020 [Member] | Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Principal	$ 1,250,000,000		$ 1,250,000,000
Interest rate on debt instrument (as a percent)	1.25%		1.25%
Net proceeds			$ 1,200,000,000
Underwriter's fees			$ 25,000,000
Debt maturity date			Apr. 1, 2020
Principal amount per conversion ratio | $ / item	1,000		1,000
Conversion ratio			25.6410
Conversion price per $1,000 principal amount of notes | $ / shares	$ 39		$ 39
Debt, effective interest rate	5.61%		5.61%
Carrying value of convertible debt	$ 1,033,790,000		$ 1,033,790,000
Debt discount	216,210,000		216,210,000		$ 238,000,000
Estimated fair value of Notes	1,000,000,000		1,000,000,000			$ 1,000,000,000
Interest expense	$ 14,000,000		$ 29,000,000
1.25% Convertible Senior Notes due 2020 [Member] | Convertible Senior Notes [Member] | Convertible Senior Notes, Conversion Scenario 1 [Member]
Debt Instrument [Line Items]
Minimum days within 30 consecutive days of trading, where percent of conversion price exceed agreed upon percentage | item			20
Debt Instrument, Convertible, Threshold Consecutive Trading Days			30 days
Minimum conversion price percentage used to determine settlement of conversion			130.00%
1.25% Convertible Senior Notes due 2020 [Member] | Convertible Senior Notes [Member] | Convertible Senior Notes, Conversion Scenario 2 [Member]
Debt Instrument [Line Items]
Debt Instruments Convertible Threshold Consecutive Trading Days			5 days
Period after measurement period used for convertible senior notes			5 days
Principal amount per conversion ratio | $ / item	1,000		1,000
Threshold percentage of product of stock price and conversion rate			98.00%

LONG-TERM DEBT (Schedule of con

LONG-TERM DEBT (Schedule of convertible senior notes) (Details) - Convertible Senior Notes [Member] - 1.25% Convertible Senior Notes due 2020 [Member] - USD ($)		9 Months Ended
		Sep. 30, 2015	Mar. 31, 2015
Debt Instrument [Line Items]
Principal		$ 1,250,000,000
Less: note discount		(216,210,000)	$ (238,000,000)
Net carrying value		1,033,790,000
Equity component	[1]	237,500,000
Debt Issuance Cost		25,000,000
Equity Component Of Convertible Senior Note [Member]
Debt Instrument [Line Items]
Debt Issuance Cost		5,000,000
Equity component of convertible debt, deferred taxes		$ 88,000,000
[1]	Recorded in additional paid-in capital, net of $5 million of issuance costs and $88 million of deferred taxes.

ASSET RETIREMENT OBLIGATIONS (D

ASSET RETIREMENT OBLIGATIONS (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Asset Retirement Obligations
Asset retirement obligations, current portion	$ 8,000	$ 12,000
Reconciliation of the Company's asset retirement obligations
Balance at the beginning of the period	179,931
Additional liability incurred	9,020
Revisions in estimated cash flows	(6,794)
Accretion expense	15,972
Obligations on sold properties	(47,758)
Liabilities settled	(5,593)
Balance at the end of the period	$ 144,778

DERIVATIVE FINANCIAL INSTRUME43

DERIVATIVE FINANCIAL INSTRUMENTS (Derivative instruments) (Details) - Whiting Petroleum Corporation [Member] - Crude oil [Member] - Subsequent Event [Member]	Oct. 01, 2015item$ / bbl
Derivative Financial Instruments [Line Items]
Aggregate notional amount of price risk derivatives (in Bbl) | item	28,531,290
Three-way collars [Member] | Jan - Dec 2016 [Member]
Derivative Financial Instruments [Line Items]
Aggregate notional amount of price risk derivatives (in Bbl) | item	16,800,000	[1]
Derivative, Floor Price (in dollars per Bbl)	43.75	[1]
Derivative, Strike Price (in dollars per Bbl)	53.75	[1]
Derivative, Cap Price (in dollars per Bbl)	74.40	[1]
Three-way collars [Member] | Oct - Dec 2015 [Member]
Derivative Financial Instruments [Line Items]
Aggregate notional amount of price risk derivatives (in Bbl) | item	4,350,000	[1]
Derivative, Floor Price (in dollars per Bbl)	44.48	[1]
Derivative, Strike Price (in dollars per Bbl)	54.83	[1]
Derivative, Cap Price (in dollars per Bbl)	70.54	[1]
Collars [Member] | Jan - Dec 2016 [Member]
Derivative Financial Instruments [Line Items]
Aggregate notional amount of price risk derivatives (in Bbl) | item	3,000,000
Derivative, Floor Price (in dollars per Bbl)	51
Derivative, Cap Price (in dollars per Bbl)	63.48
Collars [Member] | Jan - Dec 2017 [Member]
Derivative Financial Instruments [Line Items]
Aggregate notional amount of price risk derivatives (in Bbl) | item	3,000,000
Derivative, Floor Price (in dollars per Bbl)	53
Derivative, Cap Price (in dollars per Bbl)	70.44
Collars [Member] | Oct - Dec 2015 [Member]
Derivative Financial Instruments [Line Items]
Aggregate notional amount of price risk derivatives (in Bbl) | item	627,600
Derivative, Floor Price (in dollars per Bbl)	51.06
Derivative, Cap Price (in dollars per Bbl)	57.37
Swap [Member] | Oct - Dec 2015 [Member]
Derivative Financial Instruments [Line Items]
Aggregate notional amount of price risk derivatives (in Bbl) | item	753,690
Derivative, Swap Price (in dollars per Bbl)	76.25
[1]	A three-way collar is a combination of options: a sold call, a purchased put and a sold put. The sold call establishes a maximum price (ceiling) Whiting will receive for the volumes under contract. The purchased put establishes a minimum price (floor), unless the market price falls below the sold put (sub-floor), at which point the minimum price would be NYMEX plus the difference between the purchased put and the sold put strike price.

DERIVATIVE FINANCIAL INSTRUME44

DERIVATIVE FINANCIAL INSTRUMENTS (Crude oil sales and delivery contracts) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014		Jun. 30, 2014		Dec. 31, 2013
Level 3 [Member]
Derivative Financial Instruments [Line Items]
Fair value asset	$ (10,769)	$ (7,541)	$ 53,530	$ 7,734	[1]	$ 13,296	[1]	$ 36,416	[1]
[1]	The fair value asset designated as Level 3 during the three and nine months ended September 30, 2014 consisted of the Company's embedded commodity derivative contract, which has since been terminated and therefore had a fair value of zero as of December 31, 2014. Refer to the "Derivative Financial Instruments" footnote for more information.

DERIVATIVE FINANCIAL INSTRUME45

DERIVATIVE FINANCIAL INSTRUMENTS (Schedule of effects of commodity derivative instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Financial Instruments [Line Items]
(Gain) Loss Recognized in Income	$ (207,783)	$ (23,783)	$ (115,215)	$ 26,828
Not Designated as ASC 815 Hedges [Member]
Derivative Financial Instruments [Line Items]
(Gain) Loss Recognized in Income	(207,783)	(23,783)	(115,215)	26,828
Commodity contracts [Member] | Not Designated as ASC 815 Hedges [Member]
Derivative Financial Instruments [Line Items]
(Gain) Loss Recognized in Income	$ (207,783)	(29,345)	$ (115,215)	(1,854)
Embedded commodity contracts [Member]
Derivative Financial Instruments [Line Items]
(Gain) Loss Recognized in Income				$ 28,682
Embedded commodity contracts [Member] | Not Designated as ASC 815 Hedges [Member]
Derivative Financial Instruments [Line Items]
(Gain) Loss Recognized in Income		$ 5,562

DERIVATIVE FINANCIAL INSTRUME46

DERIVATIVE FINANCIAL INSTRUMENTS (Location and fair value of derivative instruments, assets) (Details) - Not Designated as ASC 815 Hedges [Member] - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Gross amounts of derivative assets and gross amounts offset [Line Items]
Gross Amounts of Recognized Assets	[1]	$ 252,253	$ 199,788
Gross Amounts Offset	[1]	(92,279)	(18,752)
Total financial assets	[1]	159,974	181,036
Commodity contracts [Member] | Derivative Assets [Member]
Gross amounts of derivative assets and gross amounts offset [Line Items]
Gross Amounts of Recognized Assets	[1]	190,481	154,329
Gross Amounts Offset	[1]	(64,493)	(18,752)
Total financial assets	[1]	125,988	135,577
Commodity contracts [Member] | Other Long-Term Assets [Member]
Gross amounts of derivative assets and gross amounts offset [Line Items]
Gross Amounts of Recognized Assets	[1]	61,772	45,459
Gross Amounts Offset	[1]	(27,786)
Total financial assets	[1]	$ 33,986	$ 45,459
[1]	Because counterparties to the Company's financial derivative contracts are lenders under Whiting Oil and Gas' credit agreement, which eliminates its need to post or receive collateral associated with its derivative positions, columns for cash collateral pledged or received have not been presented in the tables above.

DERIVATIVE FINANCIAL INSTRUME47

DERIVATIVE FINANCIAL INSTRUMENTS (Location and fair value of derivative instruments, liabilities) (Details) - Not Designated as ASC 815 Hedges [Member] - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Gross amounts of derivative liabilities and gross amounts offset [Line Items]
Gross Amounts of Recognized Liabilities	[1]	$ 103,048	$ 18,752
Gross Amounts Offset	[1]	(92,279)	$ (18,752)
Total financial liabilities	[1]	10,769
Commodity contracts [Member] | Accrued Liabilities And Other [Member]
Gross amounts of derivative liabilities and gross amounts offset [Line Items]
Gross Amounts of Recognized Liabilities	[1]	67,255	$ 18,752
Gross Amounts Offset	[1]	(64,493)	$ (18,752)
Total financial liabilities	[1]	2,762
Commodity contracts [Member] | Other Long-Term Liabilities [Member]
Gross amounts of derivative liabilities and gross amounts offset [Line Items]
Gross Amounts of Recognized Liabilities	[1]	35,793
Gross Amounts Offset	[1]	(27,786)
Total financial liabilities	[1]	$ 8,007
[1]	Because counterparties to the Company's financial derivative contracts are lenders under Whiting Oil and Gas' credit agreement, which eliminates its need to post or receive collateral associated with its derivative positions, columns for cash collateral pledged or received have not been presented in the tables above.

FAIR VALUE MEASUREMENTS (Fair v

FAIR VALUE MEASUREMENTS (Fair value assets and liabilities measured on a recurring basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Financial Assets
Financial assets - current	$ 125,988	$ 135,577
Recurring Basis [Member]
Financial Assets
Total financial assets	159,974	181,036
Financial Liabilities
Total financial liabilities	10,769
Recurring Basis [Member] | Commodity contracts [Member]
Financial Assets
Financial assets - current	125,988	135,577
Financial assets - non-current	33,986	45,459
Financial Liabilities
Financial liabilities - current	2,762
Financial liabilities - non-current	8,007
Recurring Basis [Member] | Level 2 [Member]
Financial Assets
Total financial assets	159,974	127,506
Recurring Basis [Member] | Level 2 [Member] | Commodity contracts [Member]
Financial Assets
Financial assets - current	125,988	127,506
Financial assets - non-current	33,986
Recurring Basis [Member] | Level 3 [Member]
Financial Assets
Total financial assets		53,530
Financial Liabilities
Total financial liabilities	10,769
Recurring Basis [Member] | Level 3 [Member] | Commodity contracts [Member]
Financial Assets
Financial assets - current		8,071
Financial assets - non-current		$ 45,459
Financial Liabilities
Financial liabilities - current	2,762
Financial liabilities - non-current	$ 8,007

FAIR VALUE MEASUREMENTS (Reconc

FAIR VALUE MEASUREMENTS (Reconciliation of changes in the fair value of financial assets (liabilities) designated as Level 3 in the valuation hierarchy)(Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	[1]	Sep. 30, 2015	Sep. 30, 2014	[1]	Dec. 31, 2014
Reconciliation of changes in the fair value of financial assets (liabilities) designated as Level 3 in the valuation hierarchy
Embedded commodity derivative contracts, fair value								$ 0
Level 3 [Member]
Reconciliation of changes in the fair value of financial assets (liabilities) designated as Level 3 in the valuation hierarchy
Fair value asset (liability), beginning of period		$ (7,541)	$ 13,296		$ 53,530	$ 36,416
Unrealized losses on commodity derivative contracts included in earnings	[2]	(3,228)	(5,562)		(64,299)	(28,682)
Fair value asset (liability), end of period		$ (10,769)	$ 7,734		$ (10,769)	$ 7,734
[1]	The fair value asset designated as Level 3 during the three and nine months ended September 30, 2014 consisted of the Company's embedded commodity derivative contract, which has since been terminated and therefore had a fair value of zero as of December 31, 2014. Refer to the "Derivative Financial Instruments" footnote for more information.
[2]	Included in commodity derivative (gain) loss in the consolidated statements of income.

FAIR VALUE MEASUREMENTS (Signif

FAIR VALUE MEASUREMENTS (Significant unobservable inputs used in the fair value measurement) (Details) - Level 3 [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)$ / bbl	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	[1]	Jun. 30, 2014USD ($)	[1]	Dec. 31, 2013USD ($)	[1]
FAIR VALUE MEASUREMENTS [Line Items]
Fair value (liability) | $	$ (10,769)	$ (7,541)	$ 53,530	$ 7,734		$ 13,296		$ 36,416
Market Differential For Crude Oil, Amount (Per Bbl)	5.02
[1]	The fair value asset designated as Level 3 during the three and nine months ended September 30, 2014 consisted of the Company's embedded commodity derivative contract, which has since been terminated and therefore had a fair value of zero as of December 31, 2014. Refer to the "Derivative Financial Instruments" footnote for more information.

FAIR VALUE MEASUREMENTS (Non-fi

FAIR VALUE MEASUREMENTS (Non-financial assets and liabilities measured at fair value on a nonrecurring basis) (Details) - USD ($)		3 Months Ended			9 Months Ended			12 Months Ended
		Sep. 30, 2015		Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014	Jun. 30, 2015	Dec. 08, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill		$ 0			$ 0				$ 870,000,000
Non-recurring assets at fair value, Impairment Loss (Before Tax)				$ 0			$ 0
Goodwill impairment		869,713,000	[1]		869,713,000	[1]		$ 0
Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total non-recurring assets at fair value		531,775,000			531,775,000
Non-recurring assets at fair value, Impairment Loss (Before Tax)		2,471,939,000			2,471,939,000
Nonrecurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total non-recurring assets at fair value		531,775,000			531,775,000
Nonrecurring [Member] | Proved Properties [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proved property	[2]	531,775,000			531,775,000
Non-recurring assets at fair value, Impairment Loss (Before Tax)	[2]	1,602,226,000			1,602,226,000
Nonrecurring [Member] | Proved Properties [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proved property	[2]	531,775,000			531,775,000
Nonrecurring [Member] | Proved Oil and Natural Gas Properties [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proved property		531,000,000			531,000,000
Non-recurring assets at fair value, Impairment Loss (Before Tax)		1,500,000,000			1,500,000,000
Proved Oil and Gas Properties, Net Carrying Value		2,100,000,000			2,100,000,000
Nonrecurring [Member] | Proved CO2 Properties [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proved property		1,000,000			1,000,000
Non-recurring assets at fair value, Impairment Loss (Before Tax)		62,000,000			62,000,000
CO2 Properties, Net Carrying Value		$ 63,000,000			$ 63,000,000
[1]	During the three and nine months ended September 30, 2015, goodwill related to the Kodiak Acquisition with a previous carrying amount of $870 million was written down to its fair value of zero, resulting in a non-cash impairment charge of $870 million which was recorded as a separate line in the consolidated statements of income. The Company did not recognize any goodwill impairment write-downs during the comparable 2014 reporting periods.
[2]	During the three and nine months ended September 30, 2015, proved oil and gas properties with a previous carrying amount of $2.1 billion were written down to their fair value of $531 million, resulting in a non-cash impairment charge of $1.5 billion which was recorded within exploration and impairment expense. The impaired properties consisted of the Company's North Ward Estes field in Texas and other non-core proved oil and gas properties primarily in Texas, Wyoming, North Dakota and Colorado that are not currently being developed due to depressed oil and gas prices. Also during the three and nine months ended September 30, 2015, proved CO2 properties at the Bravo Dome field in New Mexico and the McElmo Dome field in Colorado with a previous carrying amount of $63 million were written down to their fair value of $1 million, resulting in a non-cash impairment charge of $62 million which was also recorded within exploration and impairment expense. The Company did not recognize any impairment write-downs with respect to its proved oil and gas or CO2 properties during the comparable 2014 reporting periods.

DEFERRED COMPENSATION (Details)

DEFERRED COMPENSATION (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended	240 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 1994	Dec. 31, 2014	Jun. 30, 2015	Jan. 31, 2015
Deferred Compensation [Line Items]
Distribution under the Plan					$ 72	$ 41
Additional Deferred Compensation
Percentage of employees vesting ratably per year	20.00%
Plan period (years)	5 years
Distribution period after date of termination (months)	12 months
Minimum [Member]
Deferred Compensation [Line Items]
Percentage of overriding royalty interest allocated			2.00%
Percentage of oil and gas sales less lease operating expenses and production taxes allocated	1.75%			1.75%
Maximum [Member]
Deferred Compensation [Line Items]
Percentage of overriding royalty interest allocated			3.00%
Percentage of oil and gas sales less lease operating expenses and production taxes allocated	5.00%			5.00%
General and administrative expense [Member]
Deferred Compensation [Line Items]
Accrued compensation expense allocation		$ 24
Exploration expense [Member]
Deferred Compensation [Line Items]
Accrued compensation expense allocation		$ 2

SHAREHOLDERS' EQUITY AND NONC53

SHAREHOLDERS' EQUITY AND NONCONTROLLING INTEREST (Common stock offering) (Details) - Common Stock [Member] - USD ($) $ / shares in Units, $ in Millions	Apr. 01, 2015	Mar. 31, 2015	Sep. 30, 2015
Shareholders' Equity And Noncontrolling Interest [Line Items]
Issuance of common stock (in shares)	2,000,000	35,000,000	37,000,000
Shares Issued, Price Per Share		$ 30
Issuance of common stock, net	$ 61	$ 1,000
Over-Allotment Option [Member]
Shareholders' Equity And Noncontrolling Interest [Line Items]
Period of option to purchase additional shares, days			30 days
Number of additional shares available for purchase			5,250,000

SHAREHOLDERS' EQUITY AND NONC54

SHAREHOLDERS' EQUITY AND NONCONTROLLING INTEREST (Equity incentive plan) (Details) - shares	Dec. 08, 2014	Sep. 30, 2015
Stock Option [Member]
Share-based compensation disclosures [Line Items]
Maximum number of Shares per employee		600,000
Stock Appreciation Rights (SARs) [Member]
Share-based compensation disclosures [Line Items]
Maximum number of Shares per employee		600,000
Restricted Stock [Member]
Share-based compensation disclosures [Line Items]
Maximum number of Shares per employee		300,000
2013 Equity Plan [Member]
Share-based compensation disclosures [Line Items]
Number of shares authorized upon shareholder's approval		5,300,000
Increase in authorized shares	978,161
Number of options available for grant		4,095,721

SHAREHOLDERS' EQUITY AND NONC55

SHAREHOLDERS' EQUITY AND NONCONTROLLING INTEREST (Schedule of noncontrolling interest) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Noncontrolling Interest disclosures [Line Items]
Balance at the beginning of the period			$ 8,070	$ 8,132
Net income (loss)	$ (10)	$ (14)	(48)	(50)
Balance at the end of the period	$ 8,022	$ 8,082	$ 8,022	$ 8,082
Sustainable Water Resources, LLC [Member]
Noncontrolling Interest disclosures [Line Items]
Third party ownership interest (as a percent)	25.00%		25.00%

INCOME TAXES (Details)

INCOME TAXES (Details)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
INCOME TAXES [Abstract]
U.S. statutory income tax rate (as a percent)	35.00%	35.00%

EARNINGS PER SHARE (Narrative)

EARNINGS PER SHARE (Narrative) (Details) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Restricted Stock [Member]
Shares excluded from Earnings Per Share calculation [Line Items]
Antidilutive securities excluded from computation of earnings per share	94,513	442,713
Restricted stock excluded from earnings per share calculation (in shares)	359,270	644,233
Stock options [Member]
Shares excluded from Earnings Per Share calculation [Line Items]
Antidilutive securities excluded from computation of earnings per share	59,320	94,434
Stock options excluded from earnings per share calculation (in shares)	712,778	405,065

EARNINGS PER SHARE (Reconciliat

EARNINGS PER SHARE (Reconciliation between basic and diluted earnings per share)(Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerator:
Net income (loss) available to common shareholders, basic	$ (1,865,108,000)	$ 157,975,000	$ (2,120,493,000)	$ 418,488,000
Denominator:
Weighted average shares outstanding, basic	204,143,000	119,024,000	192,549,000	118,972,000
Numerator:
Net income available to common shareholders, diluted	$ (1,865,108,000)	$ 157,975,000	$ (2,120,493,000)	$ 418,488,000
Denominator:
Weighted average shares outstanding, basic	204,143,000	119,024,000	192,549,000	118,972,000
Restricted stock and stock options (in shares)		1,042,000		1,137,000
Weighted average shares outstanding, diluted	204,143,000	120,066,000	192,549,000	120,109,000
Earnings per common share, basic (in dollars per share)	$ (9.14)	$ 1.33	$ (11.01)	$ 3.52
Earnings per common share, diluted (in dollars per share)	$ (9.14)	$ 1.32	$ (11.01)	$ 3.48

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	6 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)item$ / bblMBbls	Sep. 30, 2015USD ($)itemMBbls
Unrecorded Unconditional Purchase Obligation [Line Items]
Deficiency payments per undelivered Bbl | $ / bbl	7
Deficiency payments per year	$ 38
Crude oil [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Delivery commitments, volume | MBbls	5,500	5,500
Delivery commitment term		7 years
Drilling Rig Contracts [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of contracts with drilling rig companies | item	10	10
Number of standby contracts with drilling rig companies | item		2
Possible loss on contract termination	$ 119	$ 119
Minimum future payments, remainder of 2015	25	25
Minimum future payments, 2016	84	84
Minimum future payments, 2017	$ 33	$ 33
Expiration 2016 [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of contracts with drilling rig companies | item	4	4
Expiration 2017 [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of contracts with drilling rig companies | item	6	6

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - Whiting Oil and Gas Corporation [Member] - Credit Agreement [Member] $ in Millions	1 Months Ended
	Oct. 31, 2015USD ($)	Sep. 30, 2015USD ($)
Subsequent Event [Line Items]
Maximum borrowing capacity of credit facility		$ 4,500
Maximum aggregate commitments		$ 3,500
Subsequent Event [Member]
Subsequent Event [Line Items]
Maximum borrowing capacity of credit facility	$ 4,000
Maximum aggregate commitments	$ 3,500
Debt Covenant Earnings Before Interest Taxes Depreciation Amortization And Exploration Expense To Consolidated Interest Charges Ratio Requirement	2.25