Whiting Petroleum Corporation Names Tim Sulser Chief Corporate Development and Strategy Officer
September 04 2018 - 9:00AM
Business Wire
Whiting Petroleum Corporation (NYSE: WLL) today announced that
Tim Sulser has been named Chief Corporate Development and Strategy
Officer, effective September 4, 2018. Mr. Sulser previously served
as Chief Executive Officer of Salt Creek Oil and Gas, LLC and
Director of Investment Banking for Tudor Pickering & Holt. In
his role as Chief Corporate Development and Strategy Officer, Mr.
Sulser will be responsible for Corporate Planning, Business
Development, Acquisitions and Divestitures, and Exploration.
Whiting’s Chairman of the Board, President and Chief Executive
Officer Bradley Holly commented, “With his strong background in
upstream operations and investment banking, Tim brings an
impressive skillset to Whiting’s new corporate structure. Tim will
be working with the team to ensure that Whiting is maximizing the
value of its high-quality asset base while systematically planning
for the future.”
Mr. Sulser commented, “Whiting controls a leading position in a
premier oil play and is generating strong growth and free cash
flow. I look forward to implementing a disciplined decision-making
process that allows Whiting to allocate capital so we can
consistently create value through the commodity cycle.”
About Tim Sulser
Tim Sulser founded Salt Creek Oil and Gas, LLC with Jerry Sommer
and Earl Norris in 2015 after five years as an investment banker
with Tudor, Pickering, Holt & Co (TPH), most recently heading
their Denver office. While at TPH, Tim advised upstream clients on
acquisitions and divestitures and energy capital markets. Prior to
joining TPH he worked as a reservoir engineer for reserve
engineering consultant Netherland, Sewell, and Associates in
Houston, TX. He started his career with Marathon Oil Company in
Lafayette, LA. Tim holds a B.S. in Petroleum Engineering from
Montana Tech and M.S. in Operations Research from Columbia
University.
About Whiting Petroleum
Corporation
Whiting Petroleum Corporation, a Delaware corporation, is an
independent oil and gas company that develops, produces, acquires
and explores for crude oil, natural gas and natural gas liquids
primarily in the Rocky Mountains region of the United States. The
Company’s largest projects are in the Bakken and Three Forks plays
in North Dakota and Montana and the Niobrara play in northeast
Colorado. The Company trades publicly under the symbol WLL on the
New York Stock Exchange. For further information, please visit
http://www.whiting.com.
Forward-Looking
Statements
This news release contains statements that we believe to be
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements other than historical facts,
including, without limitation, statements regarding our future
financial position, business strategy, projected revenues,
earnings, costs, capital expenditures and debt levels, and plans
and objectives of management for future operations, are
forward-looking statements. When used in this news release, words
such as we “expect,” “intend,” “plan,” “estimate,” “anticipate,”
“believe” or “should” or the negative thereof or variations thereon
or similar terminology are generally intended to identify
forward-looking statements. Such forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ materially from those expressed in, or implied by, such
statements.
These risks and uncertainties include, but are not limited to:
declines in or extended periods of low oil, NGL or natural gas
prices; our level of success in exploration, development and
production activities; risks related to our level of indebtedness,
ability to comply with debt covenants and periodic redeterminations
of the borrowing base under our credit agreement; impacts to
financial statements as a result of impairment write-downs; our
ability to successfully complete asset dispositions and the risks
related thereto; revisions to reserve estimates as a result of
changes in commodity prices, regulation and other factors; adverse
weather conditions that may negatively impact development or
production activities; the timing of our exploration and
development expenditures; inaccuracies of our reserve estimates or
our assumptions underlying them; risks relating to any unforeseen
liabilities of ours; our ability to generate sufficient cash flows
from operations to meet the internally funded portion of our
capital expenditures budget; our ability to obtain external capital
to finance exploration and development operations; federal and
state initiatives relating to the regulation of hydraulic
fracturing and air emissions; unforeseen underperformance of or
liabilities associated with acquired properties; the impacts of
hedging on our results of operations; failure of our properties to
yield oil or gas in commercially viable quantities; availability
of, and risks associated with, transport of oil and gas; our
ability to drill producing wells on undeveloped acreage prior to
its lease expiration; shortages of or delays in obtaining qualified
personnel or equipment, including drilling rigs and completion
services; uninsured or underinsured losses resulting from our oil
and gas operations; our inability to access oil and gas markets due
to market conditions or operational impediments; the impact and
costs of compliance with laws and regulations governing our oil and
gas operations; the potential impact of changes in laws, including
tax reform, that could have a negative effect on the oil and gas
industry; our ability to replace our oil and natural gas reserves;
any loss of our senior management or technical personnel;
competition in the oil and gas industry; cyber security attacks or
failures of our telecommunication systems; and other risks
described under the caption “Risk Factors” in our Annual Report on
Form 10-K for the period ended December 31, 2017. We assume no
obligation, and disclaim any duty, to update the forward-looking
statements in this news release.
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version on businesswire.com: https://www.businesswire.com/news/home/20180904005274/en/
Whiting Petroleum CorporationEric K. HagenVice President,
Investor Relations303.837.1661Eric.Hagen@whiting.com
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