UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): January 13, 2010
Whiting Petroleum Corporation
(Exact name of registrant as specified in its charter)
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| Delaware
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1-31899
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20-0098515 |
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| (State or other
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(Commission File
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(IRS Employer |
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Number)
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Identification No.) |
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1700 Broadway, Suite 2300, Denver, Colorado 80290-2300
(Address of principal executive offices, including ZIP code)
(303) 837-1661
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 C.F.R. §230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 C.F.R. §240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 C.F.R. §240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 C.F.R. §240.13e-4(c)) |
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| Item 5.02. |
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Departure of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers. |
(e) On January 13, 2010, the Compensation Committee (the “Committee”) of the Board of
Directors of Whiting Petroleum Corporation (the “Company”) approved the allocation to the Company’s
executive officers under the Company’s Production Participation Plan (the “Plan”) of interests in
income from oil and natural gas wells acquired or developed during 2009. The aggregate allocation
of such interests to all employees of the Company for the 2009 plan year was set at 3.4%. Of this
aggregate amount, the Committee awarded 7.1875% to James J. Volker and 3.1625% to each of James T.
Brown, Michael J. Stevens, J. Douglas Lang and Mark R. Williams. Once allocated, such interests
(not legally conveyed) are fixed and all cash payments are pursuant to the terms of the Plan. The
cash payments for 2009 for these interests will be $198,529 for Mr. Volker and $87,353 for each of
Messrs. Brown, Stevens, Lang and Williams. The cash payments to such executive officers for future
years as a result of such allocations are not determinable as the annual cash distributions for
such interests may increase or decrease depending upon prices realized and direct costs incurred by
the Company related to oil and natural gas produced by the Company.
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