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Baker Botts Represents Tudor Pickering in Whiting Petroleum’s $6 Billion Merger with Oasis Petroleum


Deal Description: Whiting Petroleum Corporation (NYSE: WLL) (“Whiting”) and Oasis Petroleum Inc. (NASDAQ: OAS) ("Oasis") today announced they have entered into an agreement to combine in a merger of equals transaction. The combined company will have a premier Williston Basin position with top tier assets across approximately 972K net acres, combined production of 167.8 thousand boepd, significant scale and enhanced free cash flow generation to return capital to shareholders.

Under the terms of the agreement, Whiting shareholders will receive 0.5774 shares of Oasis common stock and $6.25 in cash for each share of Whiting common stock owned. In connection with the closing of the transaction, Oasis shareholders will receive a special dividend of $15.00 per share. The combined company will have an enterprise value of ~$6.0B based on the exchange ratio and the closing share prices for Whiting and Oasis as of March 4, 2022.

Baker Botts represented Tudor, Pickering, Holt & Co., which acted as financial advisor to Oasis.

The company’s press release can be found here.

Baker Botts Lawyers/Offices Involved:

Corporate: Clint Rancher (Partner, Houston), Lakshmi Ramanathan (Special Counsel, Houston), Derek Gabriel (Associate, Dallas)

Litigation: Danny David (Partner, Houston)

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit


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