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By Oil & Gas 360
It’s a tough market for the oil companies, but Whiting Petroleum Corporation (ticker: WLL) has figured something out.
While oil and gas companies across the planet are battling a commodities price environment in which a barrel of oil fetches 70% less than it did 18 months ago, Whiting has found and implemented a secret weapon that has changed the dynamic of how the largest Bakken-Three Forks producer is developing its assets.
The new knowledge that Whiting’s geoscientists are gaining from a large scale, high tech project in its core lab has allowed the company to continue to lower its costs and increase its production.