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Whiting USA Trust II
Ticker Symbol: WHZT* CUSIP: 966388100 Exchange: OTOTC
* NOTE: This security is no longer trading as of 1/20/2022
Trust Termination: The only asset of Whiting USA Trust II (the “Trust”) is the net profits interest (“NPI”), other than cash reserves held for future Trust expenses. The Trust derives substantially all of its income and cash flows from the NPI. The NPI entitles the Trust to receive 90% of the net proceeds from the sale of production from certain oil and gas properties until the NPI terminates on December 31, 2021. After the NPI termination date of December 31, 2021, it is anticipated that the trustee of the Trust will make a final quarterly cash distribution, if any, no later than March 1, 2022, to the Trust unitholders of record on the 50th day following December 31, 2021, and the Trust will wind up its affairs and terminate. After the termination of the Trust, it will pay no further distributions.
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Company's Online Profile
BUSINESS: Whiting USA Trust II was formed in December 2011 by Whiting Petroleum Corporation to own a term net profits interest in certain long-lived, predominantly producing properties located primarily in the Rocky Mountains, Permian Basin, Gulf Coast and Mid-Continent regions of the United States. The net profits interest will entitle the trust to receive 90% of the net proceeds from Whiting’s interests in the underlying properties after the effective date of the conveyance of the net profits interest to the trust. The trust will make quarterly cash distributions of substantially all of its quarterly cash receipts of net proceeds attributable to the trust, after deduction of fees and expenses for administration of the trust, to holders of its trust units during the term of the net profits interest. The net profits interest will terminate on the later to occur of (1) December 31, 2021, or (2) the time when 11.79 MMBOE have been produced from the underlying properties and sold (which is the equivalent of 10.61 MMBOE in respect of the trust’s right to receive 90% of the net proceeds from such reserves pursuant to the net profits interest), subject to certain specified exceptions.
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IPO - 3/23/2012 - 16.00 Million Units @ $20.00/unit.
Link to IPO Prospectus
Previous Ticker Symbol: WHZ Changed: 1/06/2016
Micro Cap Stock -
Market Value $25.6 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: C/O Bank of New York Mellon Trust Co., 601 Travis St. 16th Fl, Houston, TX 77002 |
| Main Phone Number |
512-236-6599 |
| Fax Number |
Not Available |
| Investor Relations
Eric Hagen
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303-837-1661
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| CEO - James J. Volker |
CFO - Michael J. Stevens |
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