|Exchange:||New York Stock Exchange|
|Stock:||Whiting USA Trust I|
|Industry:||Oil & Gas Drilling|
|Whiting USA Trust I was formed on October 18, 2007, by Whiting Petroleum Corporation. In addition, Wilmington Trust Company acts as the Delaware trustee of the Trust, which is referred to as the 'Delaware Trustee'. The initial capitalization of the Trust estate was funded by Whiting on November 16, 2007. The Trust was created to acquire and hold a term Net Profits Interest ('NPI') for the benefit of the Trust unitholders pursuant to a conveyance to the Trust from Whiting Oil and Gas Corporation and Equity Oil Company, which are subsidiaries of Whiting. The term NPI is an interest in underlying oil and natural gas properties located in the Rocky Mountains, Mid-Continent, Permian Basin and Gulf Coast regions. The Trustee could authorize the Trust to borrow money to pay Trust administrative or incidental expenses that exceed cash held by the Trust. The Trustee might authorize the Trust to borrow from the Trustee, Whiting, or the Delaware Trustee as a lender provided the terms of the loan are similar to the terms it would grant to a similarly situated commercial customer with whom it did not have a fiduciary relationship. The operations of the properties comprising the underlying properties are subject to stringent and complex federal, state and local laws and regulations governing environmental protection as well as the discharge of materials into the environment.|
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.