Whiting Petroleum To Acquire Williston Basin Asset And Divest Colorado Asset
Jul 21, 2021•about 4 years ago
Acquiring Company
Enerplus
Acquired Company
Williston Basin Asset
Description
Whiting Petroleum Corporation (NYSE: WLL) (“Whiting” or the “Company”) today announced that it has entered into separate definitive agreements to acquire oil and gas assets in the Williston Basin of North Dakota and divest of all its oil and gas assets in the Denver-Julesburg Basin of Colorado (the “Redtail assets”).
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed