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Whiting Petroleum Corporation

Merger

  • Date:
  • 3/8/2022
  • Company Name:
  • Whiting Petroleum Corporation
  • Stock Symbol:
  • WLL
  • Company Name - Buyer:
  • Oasis Petroleum Inc.
  • Stock Symbol - Buyer:
  • OAS
  • Status:
  • Investigating
  • Merger Announcement Date:
  • 3/7/2022

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NEW YORK, March 8, 2022 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Whiting Petroleum Corporation (NYSE: WLL) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with Oasis Petroleum Inc. (NASDAQ: OAS).

On March 7, 2022, Whiting announced that it had entered into an agreement to merger with Oasis in a deal with an enterprise value of approximately $6 billion.  Pursuant to the merger agreement, Whiting stockholders will receive 0.5774 shares of Oasis common stock and $6.25 in cash for each share of Whiting common stock owned.  The deal is scheduled to close in the second half of 2022.

Bragar Eagel & Squire is concerned that Whiting’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement.  Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Whiting’s stockholders.
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in Whiting Petroleum Corporation . BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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