Whiting Petroleum Corporation

Drilling the Rohde 14-6XH Cross-Unit Well in Sanish Field, Mountrail County, NDIP: 3,293 BOE/D

Drilling operations on the Bissett #9701, Whiting’s first horizontal well at its Big Tex prospect in Pecos County, TX. The well was producing 788 BOE per day on July 25, 2011.

The well was fraced in 16 stages.

Drilling operations on the Bartleson 44-30H in Sanish field, Mountrail County, ND. The well was fracture stimulated in 29 stages and completed in the Bakken

with an initial flow rate of 2,594 BOE.

the State of Energy Summit 2011August 17, 2011

22

Forward-Looking Statement Disclosure,Non-GAAP Measures

This presentation includes forward-looking statements that the Company believes to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this presentation are forward-looking statements. These forward looking statements are subject to risks, uncertainties, assumptions and other factors, many of which are beyond the control of the Company. Important factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include the Company’s business strategy, financial strategy, oil and natural gas prices, production, reserves and resources, impacts from the global recession and tight credit markets, the impacts of state and federal laws, the impacts of hedging on our results of operations, level of success in exploitation, exploration, development and production activities, uncertainty regarding the Company’s future operating results and plans, objectives, expectations and intentions and other factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2010 and Form 10-Q for the quarter ended June 30, 2011. In addition, Whiting’s production forecasts and expectations for future periods are dependent upon many assumptions, including estimates of production decline rates from existing wells and the undertaking and outcome of future drilling activity, which may be affected by significant commodity price declines or drilling cost increases.

333

Company OverviewCompany Overview

Drilling the Hutchins Stock Association #1096 in North Ward Estes Field, Whiting’s EOR project in Ward and Winkler County, Texas.

1 Assumes a $59.02 share price (closing price as of August 1, 2011) on 117,380,843 common shares outstanding as of June 30, 2011.

2 As of June 30, 2011. Please refer to Slide #53 for details.

3 Whiting reserves at December 31, 2010 based on independent engineering.

4 R/P ratio based on year-end 2010 proved reserves and 2010 production.

Market Capitalization1 $6.9 B

Long-term Debt2 $1,060 MM

Shares Outstanding 117.4 MM

Debt/Total Cap2 27.8%

Proved reserves3 304.9 MMBOE % Oil 83%

RP ratio4 12.9 years

Q2 2011 Production 64.1 MBOE/d

4

Our Formula for Success

Long-lived properties Predictable performance High PDP content Multi-zone potential

New Rockies exploration areas (Bakken and Three Forks in Williston Basin and Niobrara in DJ Basin)

Other horizontal oil prospects (Permian Basin)

Opportunistically Monetize Some PDP Reserves

Permian Basin – North Ward Estes field

Anadarko Basin – Postle field

Williston Basin – Bakken in Sanish and Parshall field areas and Three Forks in Lewis & Clark prospect

Piceance Basin - Boies Ranch / Jimmy Gulch areas

Uintah Basin – Flat Rock Field

55

ROCKY MOUNTAINS37.2 MBOE/D

ROCKY MOUNTAINS37.2 MBOE/D

PERMIAN12.7 MBOE/D

PERMIAN12.7 MBOE/D

MID-CONTINENT8.5 MBOE/D

MID-CONTINENT8.5 MBOE/D

MICHIGAN3.1 MBOE/D

MICHIGAN3.1 MBOE/D

GULF COAST2.6 MBOE/D

GULF COAST2.6 MBOE/D

Map of Operations

(1) Based on 12-month average prices of $79.43/Bbl and $4.38/Mcf in accordance with SEC requirements. Our pre-tax PV10 values do not purport to present the fair value of our oil and natural gas reserves.

Q2 2011 Net Production64.1 MBOE/d

Proved Reserves at December 31, 2010 (1) Pre-Tax Q2 2011PV10% Average Daily Net

Oil (2) Gas Total Value (1) ProductionCore Area (MMBbl) (Bcf) (MMBOE) Oil % (in millions) (MBOE/d)Permian Basin 115.6 47.9 123.6 94% $1,471.5 12.7Rocky Mountains 94.5 162.8 121.6 78% $2,425.5 37.2Mid-Continent 38.2 19.9 41.5 92% $955.2 8.5Gulf Coast 3.2 36.9 9.4 34% $113.3 2.6Michigan 2.8 36.0 8.8 32% $78.9 3.1

Total 254.3 303.5 304.9 83% $5,044.4 64.1

(2) Oil includes natural gas liquids

5% 4%

13%

20%58%

Michigan Gulf Coast

Mid-Continent Permian Basin

Rocky Mountains

6

Sanish and Parshall Fields -Recent and Notable WellsSanish and Parshall Fields -Recent and Notable Wells

108,269 Gross Acres66,253 Net Acres

17-mile 6” & 10” ResidueGas/NGL Line to WBI-Gas sales to Midwest marketsBegan in late August ‘08

17-mile 6” & 10” ResidueGas/NGL Line to WBI-Gas sales to Midwest marketsBegan in late August ‘08

17-mile 8” Crude Oil LineTo Enbridge – Initial oil salesTo Midwest markets beganIn early December ‘09

17-mile 8” Crude Oil LineTo Enbridge – Initial oil salesTo Midwest markets beganIn early December ‘09

Robinson LakeGas Plant

Robinson LakeGas Plant

Behr 11-34H (Bakken)Compl. 6-20-0810-stage fracCum. Prod. @ 3/31/2011:680,190 BO398,709 Mcf

Behr 11-34H (Bakken)Compl. 6-20-0810-stage fracCum. Prod. @ 3/31/2011:680,190 BO398,709 Mcf

SANISH FIELDAs of 04-15-11

Sanish Field Outline

Current Producers

Currently Completing

Currently Drilling

Non-Interest Wells

Other Potential OperatedBakken Locations

229

24

10

95

PARSHALL FIELDAs of 04-15-11

Parshall Field Outline

72,420 Gross Acres18,025 Net Acres

Current Producers

Non-Interest Wells

Potential OperatedBakken Locations

127

NEW WELLSmith 14-29XH(Cross Unit)IP: 2,028 BOE/d on 4-2-1140-stage sliding sleeve frac

NEW WELLSmith 14-29XH(Cross Unit)IP: 2,028 BOE/d on 4-2-1140-stage sliding sleeve frac

Units in which WLL Owns an Interest

NEW WELLNess 42-31 WH(Bakken Wing Well)IP: 1,529 BOE/d on 3-16-1122-stage frac

NEW WELLNess 42-31 WH(Bakken Wing Well)IP: 1,529 BOE/d on 3-16-1122-stage frac

Potential OperatedThree Forks Locations

183

7Remaining OperatedBakken Infill Locations

Refer to Slide #29 for more details.

7

Sanish Bay42-12H

IP: 2,638 BOE/D

WhitingBraaflat 11-11HIP: 2,997 BOE/D

EOGVan Hook 1-13HIP: 1,661 BOE/D

Hess Corp.St. Andes

151-89-2413H-1TA

23

At Sanish Field Bakken / Three Forks Hydrocarbon System

Horizontal Wellbore Configuration

Packer Assembly Run to ~ 10,000’ Lateral Distance

7” Casing4 ½” Liner with Swelling Packers &Sliding Sleeves

~10,000’ Vertical

Courtesy of Baker Hughes Inc.Courtesy of Baker Hughes Inc.

300-400’

STARBUCK87,378 Net Acres7 Wells in 2011

Target: M. Bakken & 3Fks

BIG ISLAND119,784 Net Acres

3 Wells in 2011Target: Red River &

Scallion

LEWIS & CLARK254,818 Net Acres48 Wells in 2011

6 rigs activeTarget: 3Fks

HIDDEN BENCH30,905 Net Acres26 Wells in 2011

1 rig activeTarget: M. Bakken

MISSOURI BREAKS41,332 Net Acres

1 Well in 2011Target: M. Bakken & 3Fks

TARPON6,265 Net Acres1 Well in 2011

Target: M. Bakken

CASSANDRA13,842 Net Acres8 Wells in 2011

1 rig activeTarget: M. Bakken

SANISH65,056 Net Acres95 Wells in 2011

9 rigs activeTarget: M. Bakken & 3Fks

BEXP Gobbs 17-8 1H1818 boe/d

WhitingArnegard 21-26H 3092 boe/d

WhitingRovelstad 21-13H 2450 boe/dBEXP

Johnson 30-19 1H 2962 boe/d

WhitingHecker 21-18TFH3611 boe/d

WhitingClemens 34-9TFH2108 boe/d

(1) Whiting acreage within the BakkenHydrocarbon System totals 680,137 net acres including an additional 60,757 net acres not depicted in the prospects above

(2) Wells are gross operated and non-operated

Planned 2011 WLL Operated Wells

Whiting Williston Bakken Plays

WhitingMaus 23-22282 boe/d(Red River)

All Whiting Prospect Areas in Bakken/Three Forks Hydrocarbon System at June 30, 2011(1) (2)

9

The End

10