X0306 4 2020-09-01 false 0001255474 WHITING PETROLEUM CORP WLL 0001575480 Rimer Charles J. 1700 LINCOLN STREET, SUITE 4700 DENVER CO 80203 false true false false Chief Operating Officer Common Stock 2020-09-01 4 D false 9637.00 D 0.00 D Common Stock 2020-09-01 4 A false 603.00 A 603.00 D Warrants (Right to buy) 73.44 2020-09-01 4 A false 2364.00 A 2024-09-01 Common Stock 2364.00 2364.00 D Warrants (Right to buy) 83.45 2020-09-01 4 A false 1182.00 A 2025-09-01 Common Stock 1182.00 1182.00 D On April 1, 2020, Whiting Petroleum Corporation (the "Issuer") and certain of its subsidiaries (together with the Issuer, the ("Company') commenced voluntary cases under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"). On August 14, 2020, the Bankruptcy Court entered an order confirming the Joint Chapter 11 Plan of Reorganization of Whiting Petroleum Corporation and its Debtor Affiliates (as amended, modified or supplemented from time to time, the "Plan"). On September 1, 2020 (the "Effective Date), the Plan became effective in accordance with its terms and the Company emerged from chapter 11. On the Effective Date, all outstanding shares of the Issuer's common stock ("Old Common Stock"), unexercised options to purchase such Old Common Stock and all unvested restricted stock units and performance shares with respect to such Old Common Stock were cancelled and extinguished in accordance with the Plan approved by the Bankruptcy Court. The Reporting Person Owned 32,638 previously reported unvested restricted stock units and 2,875 unvested performance shares. On the Effective Date, new shares of the Issuer's common stock ("New Common Stock") were issued to the Reporting Person pursuant to the Plan in exchange for Old Common Stock held by the Reporting Person on the Effective Date at an effective exchange ratio of 0.0133557960 of a share of New Common Stock for each share of Old Common Stock. The receipt of shares of New Common Stock was involuntary, without additional consideration and in accordance with the Plan approved by the Bankruptcy Court. On the Effective Date, the Reporting Person also received Series A Warrants to purchase shares of New Common Stock in exchange for Old Common Stock held by the Reporting Person on the Effective Date at an effective exchange ratio of 0.0523756707 of a Series A Warrant for each share of Old Common Stock. The Series A Warrants are exercisable for one share of New Common Stock from the date of issuance until 5:00 p.m., New York time, on the expiration date. The receipt of Series A Warrants was involuntary, without additional consideration and in accordance with the Plan approved by the Bankruptcy Court. On the Effective Date, the Reporting Person also received Series B Warrants to purchase shares of New Common Stock in exchange for Old Common Stock held by the Reporting Person on the Effective Date at an effective exchange ratio of 0.0261878353 of a Series B Warrant for each share of Old Common Stock. The Series B Warrants are exercisable for one share of New Common Stock from the date of issuance until 5:00 p.m., New York time, on the expiration date. The receipt of Series B Warrants was involuntary, without additional consideration and in accordance with the Plan approved by the Bankruptcy Court. The Reporting Person voluntarily agreed to forfeit for no value 237,199 previously reported restricted stock units. This forfeiture was exempt from reporting and short-swing profit liability pursuant to Rules 16a-4(d) and 16b-6(d) under the Securities Exchange Act of 1934. /s/ Bruce R. DeBoer, Attorney-in-Fact 2020-09-03