Whiting Petroleum Corporation (WLL) Financial Statements (2023 and earlier)

Company Profile

Business Address 1700 LINCOLN STREET
DENVER, CO 80203-4547
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 1311 - Crude Petroleum and Natural Gas (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)
Annual | Quarterly

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments41269148795616
Cash and cash equivalents41269148795616
Restricted cash and investments 3   17 
Receivables280143308294284174332
Inventory, net of allowances, customer advances and progress billings466578 
Inventory466578 
Derivative instruments and hedges, assets  168  159
Disposal group, including discontinued operation     349 
Other undisclosed current assets1313717191828
Total current assets:3381903313981,190623535
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization2  ✕✕✕✕
Operating lease, right-of-use asset17  ✕✕✕✕
Property, plant and equipment621,8137,2557,3267,1839,14310,750
Other noncurrent assets3741503530110104
Other undisclosed noncurrent assets2,001      
Total noncurrent assets:2,1201,8547,3067,3617,2139,25410,854
TOTAL ASSETS:2,4582,0447,6377,7608,4039,87611,389
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities365249448466170193276
Interest and dividends payable 365455414563
Taxes payable19122731294048
Employee-related liabilities 52135303133
Accounts payable49248043333277
Accrued liabilities297171266301374555
Debt1912 959  
Derivative instruments and hedges, liabilities2104910 133  
Asset retirement obligation10644586
Disposal group, including discontinued operation     1 
Other liabilities3105434528150
Other undisclosed current liabilities2192233236196268
Total current liabilities:6383225505371,553478600
Noncurrent Liabilities
Long-term debt and lease obligation153772,8322,7922,7653,5355,198
Long-term debt, excluding current maturities 3602,8002,7922,7653,5355,198
Liabilities, other than long-term debt142116230159166713833
Deferred revenue and credits✕✕✕✕ 3549
Asset retirement obligations9492131132129169156
Deferred tax liabilities, net✕✕✕  476594
Deferred income tax liabilities  74✕✕✕✕
Other liabilities1242527373435
Operating lease, liability151732✕✕✕✕
Derivative instruments and hedges, liabilities47      
Other undisclosed noncurrent liabilities   1   
Total noncurrent liabilities:1574933,0612,9522,9314,2496,031
Total liabilities:7948153,6123,4894,4844,7276,630
Equity
Equity, attributable to parent1,6641,2294,0254,2703,9195,1414,751
Common stock0000000
Additional paid in capital1,1971,1906,4106,4146,4056,3894,660
Retained earnings (accumulated deficit)46739(2,385)(2,144)(2,486)(1,249)91
Equity, attributable to noncontrolling interest     88
Total equity:1,6641,2294,0254,2703,9195,1494,759
TOTAL LIABILITIES AND EQUITY:2,4582,0447,6377,7608,4039,87611,389

Income Statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues1,533 1,5722,0811,4811,2852,051
Revenue, net✕✕✕✕1,4811,2852,092
Cost of revenue(1,119) (1,399)(1,341)(1,650)(1,707)(3,998)
Cost of goods and services sold    (367)(395)(555)
Gross profit:415 173740(168)(422)(1,947)
Operating expenses27 (161)(171)(1,361)(406)(1,046)
Operating income (loss):442 13570(1,529)(828)(2,993)
Nonoperating income
(Other Nonoperating income)		4 231  
Interest and debt expense(16) (183)(229)(193)(600)(352)
Income (loss) from continuing operations before equity method investments, income taxes:429 (169)344(1,721)(1,428)(3,346)
Other undisclosed income from continuing operations before income taxes     1352
Income (loss) from continuing operations before income taxes:429 (169)344(1,721)(1,427)(2,993)
Income tax expense (benefit)(1) (72)(1)48388774
Income (loss) from continuing operations:428 (241)342(1,238)(1,339)(2,219)
Income (loss) before gain (loss) on sale of properties:428✕(241)342(1,238)(1,339)(2,219)
Net income (loss):428 (241)342(1,238)(1,339)(2,219)
Net income attributable to noncontrolling interest    000
Net income (loss) available to common stockholders, diluted:428 (241)342(1,238)(1,339)(2,219)

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):428 (241)342(1,238)(1,339)(2,219)
Comprehensive income (loss):428 (241)342(1,238)(1,339)(2,219)
Comprehensive income, net of tax, attributable to noncontrolling interest    000
Comprehensive income (loss), net of tax, attributable to parent:428 (241)342(1,238)(1,339)(2,219)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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