Whiting Petroleum Corporation Names Charles J. Rimer Chief Operating Officer
November 15 2018 - 7:00AM
Business Wire
Whiting Petroleum Corporation (NYSE: WLL) today announced that
Charles J. “Chip” Rimer has been named Chief Operating Officer,
effective November 15, 2018. Mr. Rimer previously served as Senior
Vice President, Global Services for Noble Energy, Inc. In his role
as Chief Operating Officer, Mr. Rimer will be responsible for
Operations, Drilling, Reservoir Engineering, Environmental Health
and Safety and Land.
Whiting’s Chairman of the Board, Chief Executive Officer and
President Bradley Holly commented, “With Chip on the team, we have
completed our transition from a function based, hierarchical
structure to a dynamic, team-based organization. Our C-suite now
consists of four pillars of responsibility that will underpin
Whiting’s future success:
- A corporate leadership division that
ensures Whiting has the capital, communications and culture to
achieve its goals.
- A financial division led by our Chief
Financial Officer Mike Stevens that drives excellence into our
organization by managing a solid balance sheet and enhancing our
profitability.
- A strategy and planning division led by
our Chief Corporate Development and Strategy Officer Tim Sulser
that generates strong near and long-term plans that enable Whiting
to continue to deliver tangible value to shareholders.
- An operations division, where we
welcome Chip Rimer as Chief Operating Officer. His deep
understanding of what drives excellence in the field will be the
catalyst that moves our teams to an even higher level of
execution.”
Mr. Rimer commented, “Whiting has a strong reputation for
operational efficiency, safety, and community and environmental
stewardship. It has assembled a premier field operations team
across its assets. In addition, it has a strong team at corporate
headquarters with a reputation for achieving the highest levels of
technical competence. I am excited to be part of the Whiting
leadership team and to do my part to ensure our people have the
resources and guidance they need to achieve industry-leading
standards of operational excellence.”
About Chip Rimer
Prior to joining Whiting, Chip Rimer served as Senior Vice
President, Global Services for Noble Energy, Inc. He joined
Samedan/Noble Energy Inc. in 2002 and served in multiple roles,
including Senior Vice President of Global EHSR & Operations
Services and Vice President of Operations Services. During his
tenure, he managed Noble’s world-wide drilling and rig operations
and its International West Africa, Non-Operated and New Ventures
Divisions. Chip started his career with ARCO Oil & Gas Company
in 1983 working US onshore areas and he held senior operations
engineering positions at Vastar Resources and Aspect Resources
before joining Noble Energy, Inc. Chip holds a degree in Petroleum
Engineering from the University of Texas.
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/20181115005211/en/
Whiting Petroleum CorporationEric K. Hagen,
303-837-1661Vice President, Investor
RelationsEric.Hagen@whiting.com
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