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Friday 9 October 2026 · Oil, gas and mining explorers, from their own disclosures

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Whiting USA Trust II

5 story beats from 2012 to 2022

The story so far

The events that changed the company's story, in plain English, each written against everything known about the company at the time. The dot shows whether it was good, bad or neutral for shareholders.

2022

  1. 20 Jan

    Filed Form 15-12B to deregister the trust units, with approximately 64 holders of record - the final administrative step in the Trust's planned wind-down after its NPI hit its production-based termination trigger at the end of 2021, consistent with the finite, depleting-asset structure disclosed since its 2012 IPO.

    listing compliance notice

2021

  1. 19 Mar

    Final full annual report (FY2020): Whiting set aside a $1.6 million reserve in Q2 2020 amid the COVID-19 oil price crash, fearing future proceeds might not cover operating costs on the underlying 1,301 gross (364.1 net) wells - then released it unused in Q3 2020 - while unit prices fell as low as $0.08. The 10-K confirms the Trust's NPI will hit its production-based termination trigger (11.79 MMBOE cumulative production, equivalent to 10.61 MMBOE at the Trust's 90% share) by December 31, 2021, after which the Trust will wind up and make a final distribution around March 2022.

    annual report

2016

  1. 11 Mar

    FY2015 10-K, filed two months after the Trust's NYSE delisting: unit prices collapsed during the year from an $8.47 first-quarter high to near $1 by the third quarter as the 2015 oil price crash hit distributable income.

    annual report

  2. 7 Jan

    NYSE notified the Trust on January 4, 2016 that its units had fallen below the exchange's $1.00 minimum average price over 30 trading days; rather than pursue a cure period or a reverse split, the Trust chose to let itself be delisted to avoid the administrative cost, and moved to OTC Pink under symbol "WHZT" starting January 7, 2016.

    listing compliance notice

2012

  1. 28 Mar

    Closed its IPO on March 28, 2012: sponsor Whiting Petroleum Corporation sold all 18,400,000 trust units (the full base offering plus the underwriters' over-allotment option, exercised in full) at listing under NYSE symbol "WHZ." In the same closing, Whiting Oil and Gas Corporation conveyed a 90% net profits interest (NPI) in its working interests across 1,300+ Permian Basin, Rocky Mountain, Gulf Coast and Mid-Continent wells to the Trust - the Trust's only asset - and the parties signed the Amended and Restated Trust Agreement and an Administrative Services Agreement with Whiting Oil and Gas as operator.

    capital raising announcement