Whiting Petroleum Corporation is an independent oil and gas company. The Company is engaged in exploration, development, acquisition and production activities in the Rocky Mountains and Permian Basin regions of the United States. As of December 31, 2013, the Company’s estimated proved reserves totaled 438.5 MMBOE, representing a 16% increase in its proved reserves. The Company is focused on a balance between its exploration and development programs and is continuing to selectively pursue acquisitions that complement its existing core properties. Its significant drilling inventory, combined with its operating experience and cost structure, provides it with meaningful organic growth opportunities. In 2013, it incurred $2,896.1 million in exploration, development and cash acquisition capital expenditures, including $2,398.4 million for the drilling of 428 gross (229.2 net) wells.