Whiting USA Trust Ii Announces Earnings and Operating Results for the First Quarter Ended March 31, 2014; Provides Operations Guidance for the Year 2015
As of March 31, 2015, on a cumulative accrual basis, 4.86 MMBOE (46%) of the Trust's total 10.61 MMBOE have been produced and sold.
Based on the Trust's reserve report for the underlying properties as of December 31, 2015, the Trust's 10.61 MMBOE are projected to be produced from the underlying properties prior to December 31, 2021, and the net profits interest would therefore terminate on December 31, 2021. Additionally, the year-end reserve report reflects an expected annualized decline rate of approximately 8.0% between 2015 and 2021.