SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Whiting Petroleum Corporation (NYSE – WLL)

BALA CYNWYD – March 14, 2022 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Whiting Petroleum Corporation (“Whiting” or the “Company”) (NYSE – WLL) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to merge with Oasis Petroleum Inc. (“Oasis”) (Nasdaq – OAS). Under the terms of the agreement, Whiting shareholders will receive 0.5774 Oasis shares plus $6.25 in cash for each share of Whiting owned, representing an implied merger consideration of approximately $91.53 per share. Upon completion of the transaction, Whiting shareholders will own approximately 53% of the combined company, while Oasis shareholders will own 47% of the combined company. Also, in connection with the closing of the transaction, Oasis shareholders will receive a special dividend of $15.00 per share. The transaction is valued at approximately $6 billion.

The investigation concerns whether the Whiting Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution in shares in the combined company.

If you own shares of Whiting stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.