MBA - AAST

Strategic plan for

Whiting Petroleum Corporation

MBA (Health Economics)

ID NUMBER: 19121838
 Table of Content

Content Page
I. Introduction 4

II. History 5

III. Mission, Vision and values 6

IV. Generic strategy 6

V. Board of trustees, top management 7

VI. External environment 8

 Remote environment-PESTEL analysis 8

 Issue priority matrix of PESTEL analysis 14

 Industry environment-Five forces analysis 23

 Industry competitive Structure 26

 EFAS 27

VII. Internal environment 29

 Value chain analysis 29

 Primary activities 29
  Support activities 32

 VRIO 39

 IFAS 44

VIII. Strategic factor analysis 45

 SFAS 45

 TWOS 48

 Grand strategies 48

 QSPM 50

IX. Recommended Strategy 52

 Strategic alternative 52

X. Strategic objectives 53

XI. Resources needed 54

XII. Implementation 56

 Implementation, Evaluation & Control Plan 58

XIII. Conclusion & Executive summary 59

XIV. References 60
 Introduction

Whiting Petroleum Corporation is a private oil and gas company with a

concentration on oil assets. The company is a North Dakota crude oil producer
with significant interests in northern Colorado. The Company principally engages
in development, production, acquisition, and exploration activities in the United
States' Rocky Mountains region. Its activities include crude oil, natural gas liquids
(NGLs), and natural gas exploration and production. Non-core assets in Arkansas,
Mississippi, New Mexico, Texas, and Wyoming are the focus of the Company's
other operations. Across its geographical locations, the Company holds stakes in
productive wells on developed acres. It sells its oil and gas production to end
users, marketers, and other buyers with pipeline or rail connections in the area.

Given the dramatic drop in oil and gas prices caused by the Saudi Arabia-Russia oil
price war, as well as the impact of the coronavirus on demand, the company's
board decided that a financial restructuring was the "best road ahead." It has
reached an agreement with creditors to reduce its debt by $2.2 billion by
exchanging some of its notes for 97 percent new shares. The reconstituted
corporation will be owned by existing stockholders to the tune of 3%.
Despite this, Whiting claimed in a regulatory filing on March 26 that it altered its
compensation program to pay out more than $13 million in incentives to senior
individuals, including $6.4 million to CEO Brad Holly, in reaction to the
circumstances affecting the oil industry.

History

Kenneth R. Whiting and Bert Ladd co-founded Whiting Petroleum Corporation in

Denver, Colorado in January 1980. Mr. Whiting was President and Chief Executive
Officer from 1993 to 2008, as well as a director.
Whiting Petroleum became a public corporation in 1983 when it amalgamated
with Kebab Oil & Gas and Hinge Line over Thrust.

Whiting Petroleum was bought as a wholly owned subsidiary of Alliant Energy, a

Midwest public utility, in 1992. Whiting Petroleum resurfaced as a public
company in November 2003, following the completion of their initial public
offering (IPO).

They have been an independent oil and gas company from their inception,
primarily in the Rocky Mountain region and the Permian Basin, acquiring,
exploiting, developing, and exploring for crude oil, natural gas, and natural gas
liquids. Whiting Petroleum now concentrates its operations in the Rocky
Mountain region of the United States.

Mission, vision and values

Mission

To be a self-contained Oil and Gas Company

Vision

Development of previously purchased property for a track record of profitability

and significant output increase

Values

Whiting's commitment to sustainability planning, reporting, and implementation

continues to grow. They've increased transparency, made substantial progress,
and remained committed to moving forward on crucial goals. As their industry
faces more problems, their commitment to their people, the communities where
they live and work, and the environment they all appreciate and enjoy grows.

Generic strategy

Whiting is an existing organization with people, processes, and organizations

working well together, resulting in 2,171 wells producing 125,000 barrels of oil
per day in 2019. Whiting's enormous asset base, which accounts for 65 percent of
oil output, gives them a significant competitive edge. Transparency is their
guiding concept, both internally and externally. They want their staff to
 understand how and why they work the way they do so that departments may
communicate with one another. They want their investors to know they can be
trusted outside of the company, especially in a sector where confidence is at
stake every day.

Board of trustees and management

Kevin S. McCarthy Chairman of the board

Janet Carrie Director
Susan M. Cunningham Director
Paul J. Korus Director
Lynne. Peterson Director
Daniel J. Rice Director
Anne Taylor Director
Charles Chip J, Ramer Chef operating officer & executive vice president of operations
James Jimmy P. Henderson Chef operating officer & executive vice president of operations
M. Scott Regan Vice president ,legal ,general counsel and secretary
Chris L. Edwards Human Resources Vice President
Sirkka R. Lohoefener Accounting and controller vice president
Kevin A. Kelly Vice President of Business Development and & ESG
Jo Ann F. Stockton Commercial Vice President
Charles Chlson Operations Vice President
 External environment

Whiting Petroleum Corporation is a petroleum company based in Whiting, PESTEL

analysis is a strategic tool for analyzing an organization's macro environment. PESTEL
stands for Political, Economic, Social, Technological, Environmental, and Legal
elements that affect Whiting Petroleum Corporation's macro environment. Other
than competing pressures, the PESTEL study provides extensive depth about
operating issues Whiting Petroleum Corporation will face in the current macro
environment.
Changes in macro-environmental conditions might affect not only Whiting Petroleum
Corporation, but also other participants in the oil and gas drilling and exploration
industry. The Porter Five Forces, which determine strategy and the competitive
landscape, can be influenced by macro-environmental issues. They can have an
impact on a company's competitive edge or the Basic Materials industry's overall
profitability.

a) Remote environment: PESTEL Analysis

Political factors:

Political variables are important in determining the aspects that can affect
Whiting Petroleum Corporation's long-term profitability in a certain country or
market. Whiting Petroleum Corporation is in the oil and gas drilling and
exploration business in more than a dozen nations, exposing itself to a variety of
political risks. Diversify the systemic risks of the political environment to
accomplish success in such a dynamic Oil & Gas Drilling & Exploration industry
across multiple countries. Before joining or investing in a market, Whiting
Petroleum Corporation can carefully consider the following criteria:

• Political stability and the economic relevance of the oil and gas drilling and
exploration sector.
• Military bureaucracy and government intervention in the oil and gas drilling and
exploration industry.
• Contract enforcement legal framework
• Basic Materials trade rules and tariffs
• Invasion
• The amount of corruption, particularly in the Basic Materials sector.

Economic factors:

Because it has a direct impact on the firm, it is impossible to risk investing until
market growth rates are present to ensure continuity and investment, and there
is a constant larger chance to reach the customer without engaging in a market
battle.

The aggregate demand and aggregate investment in an economy are determined

by macroeconomic factors such as inflation rate, savings rate, interest rate,
foreign exchange rate, and economic cycle. Micro environmental elements such
as competition standards have an impact on the firm's competitive advantage.
Whiting Petroleum Corporation can forecast the growth trajectory for the
organization by using country economic factors such as growth rate, inflation, and
industry economic indicators such as Oil & Gas Drilling & Exploration industry
growth rate, consumer spending, and so on. When conducting a PESTEL study,
Whiting Petroleum Corporation should examine the following economic aspects: 

• Rate of economic growth

• Labor costs and productivity
• Exchange rates and currency stability in the host country
• Rates of inflation and interest
Social Factors:
A society's culture and way of life have an impact on a company's culture in a
certain environment. Whiting Petroleum Corporation marketers will analyze the
clients of a specific market and build the marketing message for Oil & Gas Drilling
& Exploration industry consumers based on shared beliefs and attitudes of the
people. The following are social aspects that Whiting Petroleum Corporation's
leadership should consider while doing a PESTEL analysis:

• Level and standard of education in the Whiting Petroleum Corporation's

industry
• Culture (gender roles, social conventions etc.)
• Personality traits (health, environmental consciousness, etc.)
• Hobbies and interests

Technological factors:

As technology can produce a new product, modify an existing product or the

process used to produce it, reduce the percentage of surplus and the time it takes
to produce it, and assist them in producing products that were previously difficult
to extract, it can also reduce the number of existing workers, lowering the cost
and allowing new shopping methods such as social media to emerge.

It's also the fact that it's rapidly disrupting a variety of industries. Slower speeds
allow for more time, whilst faster speeds allow for less time for a company to
cope and remain profitable. Some of the consequences of technology analysis are
as follows:

• Technology's impact on product offering 

• Impact of technology on product offering
• Impact on cost structure in the Oil & Gas Drilling & Exploration industry
• Impact on value chain structure in the Basic Materials sector
• Diffusion rate of technology
Ecological Factors:

They are items that are referred to as "out of control" in terms of how they
interact with the environment and how they use available natural resources. They
do not work in isolation; therefore environmental rules enacted by other
countries have an impact on the state. Varying markets have different norms or
environmental regulations, which might have an impact on a company's
profitability. Even within a country, states can have disparate environmental and
liability legislation. As a result, before entering new markets or starting a new
operation in an existing market, a company should carefully assess the
environmental criteria that must be met in those countries. Some of the
environmental issues that a company has to deal with; 

Air emissions:

Whiting strives to restrict and absorb air pollutants as part of their broader
commitment to environmental responsibility. Whiting calculates air emissions
from its activities by combining manufacturer-provided or EPA-required emissions
factors with state and federal emission estimating procedures relevant to the
places where Whiting operates. Improvements to their gas collection rate in
North Dakota, pilot emissions reduction programs, pursuing the most beneficial
emissions computation method, and setting a greenhouse gas (GHG) emissions
reduction target are all ongoing initiatives.
Risk management:

At Whiting, preserving a culture that values caring for others, quality of work,
productivity, and company pride requires prioritizing employee health and safety.
Their Health and Safety plans are intended to assist employees in identifying
hazards and assessing the risks that are inherent in their business. They equip
their staff to adopt industry best practices and agreed standards to manage risk in
a way that protects themselves, coworkers, the public, and their property through
Health and Safety training. Ongoing projects include formalizing the risk
management process, standardizing operational practices, and assessing
Whiting's climate risk position on a regular basis.

Water management:

Whiting recognizes and values water as a finite natural resource, and is

committed to conserving it. They are aware that their water consumption has an
impact on nearby communities, governments, businesses, and industries and they
are committed to using water ethically and efficiently while growing energy
resources. Whiting makes every effort to collect fresh water from neighboring
water sources and to reduce water use by just using the amount of fresh water
required. They employ pipelines to transport fresh water whenever possible,
which avoids the usage of haul trucks and the pollutants and traffic that come
with them. Enhancing the water data gathering process, conducting a water risk
assessment, planning water reduction and recycling measures, and setting a
water reduction target are all ongoing projects.
Waste management:

Whiting has created an excellent waste management program to reduce their

environmental impact as well as the risk and responsibility associated with
processing and disposing of garbage. Their corporate Garbage Management and
Minimization Plan, as well as third-party audits of all disposal locations, ensuring
that waste is appropriately disposed of or treated at all of their facilities. Whiting's
waste management program is always evolving, and they are continuously
searching for new methods to enhance how they manage and dispose of their
wastes, as well as reduce the amount of waste they produce. Ongoing initiatives
include enhancing the waste data collection process, creating a baseline using
2020 data, developing and piloting waste reduction initiatives, and leveraging
supply chain to consolidate vendors.

Legal factors:

Where legislative aspects such as rising and falling customs stimulate or

discourage investors from entering or exiting the industry, transferring their
industry to other nations, or preventing foreign investors from entering the
industry.

Also, there is an intellectual property protection law that may encourage

corporations to research and develop new products or, conversely, may
discourage corporations from doing so due to a lack of protection laws. The speed
with which laws are enacted is a necessity when needed rather than waiting
several years due to the industry's impact. As a result, when making an
investment decision, numerous priorities must be set.

As a result, a number of countries' legal frameworks and institutions are

insufficient to preserve their intellectual property rights. Before entering such
areas, a company should conduct thorough research. While entering a new
market, Whiting Petroleum Corporation's leadership should consider the
following legal factors;

• Employment law
• Health and safety law
• Discrimination law
• Consumer protection and e-commerce law

b) Issue priority matrix for PESTEL analysis:

It's a tool for determining priorities because it's based on two criteria that must
be considered. The first is the anticipated financial impact on the company. The
second factor is the likelihood of occurrence.
As a result, each of the elements must be entered separately in the priority matrix
in order to determine the degree of its impact and the extent to which it will
affect in the future, as well as the likelihood of this occurring in the future,
because we rely on information and knowledge within each institution, as well as
the presence of experts to employ it, to aid in the long-term prediction of some
situations as a result of the indicators.

Threat

Probability of Impact on Corporation

Factor High Medium Low

Probability
P1 High of
 Medium 3 Occurrence
Invasion
Low

Opportunity
Probability of Impact on Corporation
Factor High Medium Low
High
Probability
Contract
Medium 4 of
P1 enforcement
Occurrence
legal Low
framework

Threat

Probability of Impact on Corporation

Factor High Medium Low
Probability
The High
of
P1 amount of Medium
Occurrence
corruption Low 8

Opportunity
Probability of Impact on Corporation
Factor High Medium Low Probability
P1 Political High of
Medium 4
 stability Low Occurrence

Threat

Probability of Impact on Corporation

Factor High Medium Low
High
Probability
Military Medium 4
of
P1 bureaucracy and
Occurrence
government Low
intervention

Opportunity
Probability of Impact on Corporation
Factor High Medium Low
High
Probability
Medium 4
Basic Materials of
P1
trade rules and Occurrence
Low
tariffs

Threat

Probability of Impact on Corporation

Factor High Medium Low Probability
 Rates of High
of
P1 inflation Medium
and Occurrence
interest Low 8

Opportunity
Probability of Impact on Corporation
Factor High Medium Low
Exchange High
rates and Medium 3
Probability of
currency Low
P1 Occurrence
stability in
the host
country

Opportunity
Probability of Impact on Corporation
Factor High Medium Low
High Probability
Rate of Medium 3 of
P1
economic Low Occurrence
growth

Threat

Probability of Impact on Corporation

Factor High Medium Low Probability
 Labor costs High
of
P1 and Medium
Occurrence
productivity Low 8

Opportunity
Probability of Impact on Corporation
Factor High Medium Low
Probability
High
Hobbies and of
P1 interests Medium 3
Occurrence
Low

Threat

Probability of Impact on Corporation

Factor High Medium Low
High
Probability
Personality traits Medium 4
of
P1 (health,
Occurrence
environmental Low
consciousness, etc.)

Opportunity
Probability of Impact on Corporation
Factor High Medium Low Probability
P1 High of
Medium 3
 Low Occurrence
Level and standard of
education in the Whiting
Petroleum Corporation's
industry

Threat

Probability of Impact on Corporation

Factor High Medium Low
Culture (gender High Probability
roles, social Medium of
P1
conventions Occurrence
Low 8
etc.)

Opportunity
Probability of Impact on Corporation
Factor High Medium Low
Recent technological High Probability
developments by
Whiting Petroleum Medium 3 of
P1 Corporation Low
competitors Occurrence

Threat

Probability of Impact on Corporation

Factor High Medium Low Probability
 Impact on cost High
structure in the Oil Medium of
P1
& Gas Drilling & Occurrence
Low 8
Exploration industry

Opportunity
Probability of Impact on Corporation
Factor High Medium Low
Probability
High
Technology's impact of
P1 Medium 3
on product offering Occurrence
Low

Threat

Probability of Impact on Corporation

Factor High Medium Low
Probability
High
Diffusion rate of of
P1 Medium 4
technology Occurrence
Low

Opportunity
Probability of Impact on Corporation
 Factor High Medium Low
Probability
Impact on value chain High
of
P1 structure in the Basic Medium 3
Occurrence
Materials sector Low

Threat

Probability of Impact on Corporation

Factor High Medium Low
Probability
Air High
of
P1 emissions Medium
Occurrence
Low 8

Opportunity
Probability of Impact on Corporation
Factor High Medium Low
High Probability
Water Medium 3 of
P1 managemen Low
Occurrence
t

Threat

Probability of Impact on Corporation

 Factor High Medium Low
Risk High Probability
managemen Medium 4 of
P1
t Occurrence
Low

Opportunity
Probability of Impact on Corporation
Factor High Medium Low
Waste High Probability
managemen Medium 3 of
P1
t Low Occurrence

Threat

Probability of Impact on Corporation

Factor High Medium Low
Probability
Discrimination High
of
P1 law Medium
Occurrence
Low 8
Threat

Probability of Impact on Corporation

Factor High Medium Low
Probability
High
Health and of
P1 Medium
safety law Occurrence
Low 8

Opportunity
Probability of Impact on Corporation
Factor High Medium Low
Consumer High Probability
protection and Medium 3 of
P1
e-commerce Low Occurrence
law

Opportunity
Probability of Impact on Corporation
Factor High Medium Low
Probability
High
of
P1 Employment Medium 3
law Occurrence
Low
 c) Industry Environment: Five forces analysis (porters’ analysis)

It is known as the Micro environment, and it is concerned with the existing

structure of the industry as well as the impact of the roles played by the sector's
giants.

The industry environment is a setting that focuses on aspects unique to the

industry or service being delivered. I will concentrate on five important factors:
supplier bargaining strength, buyer bargaining power, substitute risk, potential
new entrants, and rivalry. These variables have a significant role in determining
whether a company succeeds or fails. The Porter's Five Forces Model, a
commonly used industry analysis approach, can be utilized to further assess these
issues.

Bargaining power of supplier:

In the oil and gas industry, suppliers have moderate to high bargaining strength.
The business is inherently dynamic, and crude oil, a major raw material, fluctuates
due to a variety of underlying variables. Because they are their own source,
companies that rely on petroleum self-exploration can cut costs. The price of
crude oil imported from other oil explorers changes due to geopolitical factors, oil
quality, and benchmarking oil rates. Because of the concentration of suppliers,
they are in a strong position to regulate prices.

Risk of New entrants:

The industry is one of the most heavily regulated in the world. The oil and gas
sector considers Whiting Petroleum Corporation to be dominating. The company
has continued to pursue a program of reducing dependency on oil and gas
imports while also developing its domestic infrastructure. There is a strict
regulatory structure in place, with a significant cost of compliance. Another
stumbling block to admission is the required capital investment to operate in the
industry.

Intensity of Rivals:

Whiting Petroleum Corporation competes in a market that is very competitive,

because it is a for profit company. ConocoPhillips (COP), EOG Resources (EOG),
Pioneer Natural Resources (PXD), Devon Energy (DVN), Diamondback Energy
(FANG), Continental Resources (CLR), Marathon Oil (MRO), EQT (EQT), Range
Resources (RRC), and PDC Energy are among Whiting Petroleum's primary
competitors (PDCE). These businesses are all involved in "oil and gas exploration
and production." However, EOG Resources outperforms Whiting Petroleum on 12
of the 16 criteria examined.

Bargaining power of Buyer:

Due to the complete control of oil and gas production and distribution, buyers in
the business do not have a lot of bargaining power. Oil refineries, distribution
corporations, and end-users are the most common buyers. The majority of major
oil conglomerate enterprises are vertically integrated, allowing them to control
the supply chain. Due of the large number of oil firms available and the lack of
interest in the product, the end-user has a low switching cost. As a result, they
have a lot of negotiating leverage. Downstream companies, on the other hand,
are unable to transfer buyers due to significant switching costs. As a result of
product in-differentiation and perceived quality, an end-user has some bargaining
power. Other downstream businesses do not have a lot of negotiating power.

Risk of substitutes:

In the short term, the threat of substitute is moderate, but it is significant in the
medium to long term. Because the oil and gas business has such a large carbon
footprint, there is increasing pressure on it to find better alternatives. Climate
activists are advocating for product options, which has resulted in progressive
legislative changes on a worldwide scale. Nuclear energy, hydrogen, and
renewable energy sources are all feasible options. Automobiles are one of the
greatest oil consumers, and there are now really environmentally friendly electric
vehicles accessible in many parts of the world. Governments are subsidizing the
manufacture of environmentally friendly automobiles. In 2020, the globe will add
historic amounts of renewable energy, with renewable energy accounting for
more than 80% of all new electric capacity added.

Industry competitive Structure

Strategic group Map:

 It is a tool for identifying direct competitors and comparing market shares of
Companies.

ConocoPhillips (COP), EOG Resources (EOG), Pioneer Natural Resources (PXD),

Devon Energy (DVN), Diamondback Energy (FANG), Continental Resources (CLR),
Marathon Oil (MRO), EQT (EQT), Range Resources (RRC), and PDC Energy are
among Whiting Petroleum's primary competitors (PDCE). These businesses are all
involved in "oil and gas exploration and production."

Whiting Petroleum Market Share by Total Revenue 0.22

Competitors Market Share 99.78

EFAS

Weighted
Factor Weight Rate
Score
Opportunities
1 Technology advancements 0.08 5 0.4
 New environmental policies are being
2 0.03 4 0.12
implemented.
3 Free cash flow that is stable 0.11 5 0.55
4 Government-led environmental initiative 0.1 5 0.5
5 The creation of new markets 0.02 4 0.08
6 Inflation is decreasing. 0.03 4 0.12
7 The evolution of the market 0.02 4 0.08
8 Consumer behavior is changing in new ways. 0.06 5 0.30
Sub total 0.45 2.15
Threats
There isn't a consistent supply of innovative
1 0.07 4 0.28
products.
2 Raw material prices are rising. 0.05 3 0.15
Consumer purchasing habits are shifting as a
3 0.06 3 0.18
result of the online channel.
Under the Paris Agreement, new environmental
4 0.11 5 0.55
restrictions will be implemented (2016)
In China, wages are rising, particularly at $ 15 per
5 0.07 3 0.21
hour, and prices are rising.
Competitor-developed innovations or a market
6 0.1 5 0.5
disruptor
In some worldwide markets, there is a shortage
7 0.06 4 0.24
of skilled workers.
Lawsuits could be filed against the corporation in
8 0.03 4 0.12
a variety of markets.
 Sub total 0.55 2.23
Total 1 4.38

As a result, Whiting Petroleum Corporation enjoys a competitive advantage.

Internal Environment Analysis

A) Value Chain Analysis:

It denotes the examination of each department within the system and the
identification of strengths and weaknesses, which is based primarily on the
findings of the external environment analysis, particularly the findings of
customer requirements and priorities and the extent to which the
institution or competitor can meet them.
As a result, it is primarily based on converting the customer's requirements
through a series of activities that play a key part in extracting the value or
additional values that result in competitively advantageous products or
services that assist satisfy his desires and objectives. These activities are
classified into two categories:

1. Primary activities :

Primary activities are the most important group. It consists of the five primary
actions. All five operations are directly involved in the actual product's creation
and sale. They cover the product's physical creation, sales, and transfer to the
consumer, as well as post-sale support. Inbound logistics, operations, outbound
logistics, marketing & sales, and service are the five key activities. Despite the fact
that the relevance of each category varies by industry, all of these activities will
be present to some extent in each organization and will play at least some role in
competitive advantage.

1-Inbound logistics (purchasing department):

Inbound logistics refers to the process of receiving purchased inputs such as raw
materials and components and putting them into operation. Because they are
always in communication with external organizations such as suppliers, they must
exercise caution. Whiting Petroleum Corporation relies on self-exploration of
petroleum; therefore it may save money because they are their own source.
However, the price of crude oil imported from other oil explorers changes due to
geopolitical factors, oil quality, and benchmarking oil rates. Receiving, storing,
and dispersing inputs to the product are all actions related with inbound logistics.

2-Operations (Production Department):

Whiting Petroleum Corporation is a Denver-based independent oil and gas

company that primarily operates in the Rocky Mountain region of the United
States, acquiring, exploiting, developing, and exploring for crude oil, natural gas,
and natural gas liquids.

They are largely focused on organic drilling activities, including both grassroots oil
plays and the development of previously purchased properties; with a particular
emphasis on projects that they feel will bring recurring success and considerable
production increase.
Its mission is to responsibly produce oil and gas, limit their environmental effect,
conserve natural resources, and respond as needed to keep their employees and
communities well and safe.

3-Outbound logistics (Distribution Unit):

After the final product is completed, it must still be delivered to the customer.
The goods might be transported right soon or must be held for a time, depending
on how lean the organization is. Collecting, storing, and physically distributing the
product to purchasers is all part of outbound logistics. Warehouses for finished
items, material handling, and delivery truck operations, order processing, and
scheduling are just a few examples.

4-Marketing & Sales (Marketing Department):

People who are willing to buy the products are needed to make them. This is
where sales and marketing come into play. Marketers and salespeople are
responsible for ensuring that potential buyers are aware of the product and are
seriously contemplating purchasing it. Advertising, promotion, sales force,
quotation, channel selection, channel relations, and pricing are all marketing and
sales activities.

5-After Sale Services (After Sale Service Department):

After-sales service is equally as vital as promotional activities in today's economy.

Unsatisfied client complaints are easily distributed and shared thanks to the
internet, and the ramifications for their company's reputation could be severe. As
a result, having the correct customer service practices in place is critical.

After a product has been sold and delivered, the activities associated with this
phase of the value chain include providing service to enhance or preserve the
product's value. Installation, repair, training, parts delivery, and product
adjustment are just a few examples.

2. Support activities :

Support activities are the second type. They provide purchased inputs,
technology, human resources, and various firm-wide management functions
across the major operations, with the goal of coordinating and supporting their
functions as best as feasible. Procurement, technological development (R&D),
human resource management, and company infrastructure are the four
categories of support activities.

1-Management Activities (Financial, it department):

 IT Department

They have built considerable technical and operational experience in each

of their key operating areas, as well as extensive geology and geophysical
knowledge. They've gained a lot of experience in seismic imaging and
 interpretation, both traditional and 3-D, in recent years. Their technical
staff has access to 3,100 square miles of 3-D seismic data, digital well
records, and other subsurface data. Advanced geophysical and geological
computer resources are used to evaluate this data in order to accurately
and efficiently characterize the subsurface oil and gas reservoirs that make
up their asset base. Their information solutions also allow them to update
their production databases on a daily basis using hand-held PCs in the field.
They have a team of ten professionals with an average of 26 years of
experience handling CO2 floods, allowing them to pursue other CO2 flood
targets and use this technology to expand their reserve portfolio. Their field
operations and development efforts have become more productive and
efficient as a result of their devotion to technology.

 WLL Financial situation:

 WLL Income statement

Gross margin = 80.81%

Operating margin = 11.82%

Net profit margin = 10.57%

Return on Investment = 7.88%

Total Revenue

Net Income 

30/9/2021 30/6/2021 31/3/2021 31/12/2020

Total Revenue 401.04 351.65 307.39 212.27
Gross Profit 338.98 286.29 246.15 156.82
Operating Income 201.73 -57.78 1.64 4.77
Net Income 198.16 -61.49 -0.95 -1.2
 WLL Balance statement
Quick Ratio = -
Current Ratio = 0.37
LT Debt to Equity = 5.26%
Total Debt to Equity = 5.26%
Total Assets
Total Liabilities

30/9/2021 30/6/202
Total Assets 2291.24 2108.11
Total Liabilities 922.08 938.34
Total Equity 1369.16 1169.77

 WLL Cash flow statement

Cash Flow/Share = 8.92

Revenue/Share = 32.72

Operating Cash Flow = 79.28%

Cash
Net Change in Cash

30/9/2021 3
Cash from Operating
526.33
Activities
Cash from Investing
-247.3
Activities
Cash from Financing
-294.49
Activities
Net Change in Cash -15.48
In brief:

 Revenue was $401 million for the quarter ended September 30, 2021
 Net income (GAAP) was $198 million, or $5.00 per diluted share
 Adjusted net income (non-GAAP) was $142 million, or $3.57 per
diluted share
 Adjusted EBITDAX (non-GAAP) was $201 million
 Net debt was $59 million as of September 30, 2021 (non-GAAP)

Whiting Petroleum Corp's revenues climbed from $520.1 million to $1.06 billion in
the nine months ended September 30, 2021. Net income was $135.7 million,
compared to a loss of $3.93 billion. Oil segment revenues increased from $501.2
million to $1.05 billion. Exploration costs have decreased by 89 percent to $3
million, and depletion has decreased by 57 percent to $147 million (expense).
Basic earnings per share excluding unusual items grew from -$2265.61 to $3.47.

 WLL Ratios For 5 Year Average

Name Corporation Industry

P/E Ratio TTM 20.04 26.65
Price to Sales TTM 2.08 1.42
Price to Cash FLOW MRQ - 28.62
Price to Free Cash Flow TTM 18.57 184.54
Price to Book MRQ 1.93 2.49
Price to Tangible Book MRQ 1.93 1.88

Profitability. TTM vs 5 Year Average Margins

TTM (%) 5 Year Avg (%)

Gross margin TTM 80.81% 34.86
Gross margin 5YA 77.15% 32.21
Operating margin TTM 11.82% 6.66
Operating margin 5YA -80.49% 4.59
Pretax margin TTM 10.58% 4.26
Pretax margin 5YA -97.41% 3.01
Net Profit margin TTM 10.57% 2.86
Net Profit margin 5YA -88.43% 2.04
Revenue/Share 32.72 60.01
Basic EPS -103.11 -4.43
Diluted EPS -103.11 -4.43
Book Value/Share 34.99 38.36
Tangible Book Value/Share 34.99 34.03
Cash/Share 0.33 7.15
Cash Flow/Share 8.92 6.64

Management effectiveness TTM vs. 5 Year Average Margins

TTM (%) 5 Year Avg (%)

Return on Equity TTM 10.35% -6.23
Return on Equity 5YA -31.09% 2.92
Return on Assets TTM 6.13% 1.41
Return on Assets 5YA -15.66% 1.62
Return on Investment TTM 7.88% 1.76
Return on Investment 5YA -17.19% 2.08
EPS(MRQ) vs. Qtr. 1yr Ago MRQ -31.47% 301.14
EPS(TTM) vs. TTM1yr Ago TTM 100.95% 126.46
5 Year EPS Growth 5YA - -7.54
Sales (MRQ) vs. Qtr. 1 Yr. Ago 118.38% 119.96
MRQ
Sales (TTM) vs. TTM 1 Yr. Ago 41.26% -1.3
TTM
5 Year Sales Growth -18.94% 0.3
5 Year Capital Spending Growth -35.6% -8.82
Quick Ratio MRQ - 0.87
Current Ratio MRQ 0.37 1.14
LT Debt to Equity MRQ 5.26% 90.12
Total Dept. to Equity MRQ 5.26% 99.95

Efficiency
Asset Turnover TTM 0.58 0.59
Inventory Turnover TTM - 9.67
 Revenue /Employee TTM 3.14M 2.73M
Net Income/Employee TTM 332.17K 22.61K
Receivable Turnover TTM 7.35 14.52

Dividend Yield ANN - 4.6

Dividend Yield 5 Year Avg - 4.79
Dividend Growth Rate ANN - -5.19
Payout Ratio TTM 0% 74.29

2-Human Resources Management (Department of Human Resources):

HRM include tasks such as hiring (and firing), training, development, and
remuneration for all types of employees. HRM has an impact on a company's
competitive edge because it determines employee skills and motivation, as well
as the cost of employing and developing them. HRM also refers to an
organization's ability to attract and retain talented employees, as well as develop
their talents through a variety of approaches such as training and incentives. And
if this element disappears, it will also lead to the disappearance of specialization,
communication and coordination, which will eventually lead to the demise of the
organization. The human resources department at Whiting Petroleum
Corporation has a direct impact on the workplace. It employees highly value their
work environment and are quite satisfied. "Everyone is treated as a leader with
the opportunity to affect change," one user said when asked what he liked about
the culture and atmosphere at Whiting Petroleum Corporation.

3-Research & Development (Department of Research & Development):

Whiting is dedicated to its workers' personal and professional growth. They

empower their employees to build the abilities they need to execute their current
tasks while also improving their leadership acumen for future chances through a
comprehensive approach. They recognize that having more knowledge, skill, and
competence in relation to job obligations benefits both the employee and
Corporation. They encourage their staff by providing options for continuing
education, training, and seminar attendance, as well as generous tuition
reimbursement. Whiting also established a new Learning Management System in
addition to the WLL LEAD program (LMS).

4-Purchasing Department (Procurement):

The function of purchasing inputs utilized in the value chain of a company is
referred to as procurement. Every value activity, including support activities,
requires purchased inputs. Raw materials, supplies, and other consumable
commodities, as well as assets such as machinery, laboratory equipment, office
equipment, and buildings, are examples of purchased inputs. As a result,
procurement is required to support a variety of value chain operations, not simply
inbound logistics. Whiting Petroleum Corporation has a strong foundation of
dependable raw material suppliers, allowing them to bypass any supply chain
bottlenecks. For oil and gas producers, the past year has been a tumultuous one.
After plunging below zero in April 2020, West Texas Intermediate crude prices are
currently approaching $80 per barrel — and producers are following suit.
Whiting Petroleum Corporation had a difficult time during the downturn last
spring, but it has recovered and is currently expanding in the Bakken. In July, the
business revealed plans to buy drillable land in Mountrail County. It announced
on Monday that it had completed a $271 million acquisition that will result in 61
new drillable spots.
 Whiting executives claim they sold assets in Colorado's Denver-Julesburg Basin to
pay a portion of the deal, indicating the Bakken's significant revenue potential.

B) VRIO
It is one of the most useful techniques for identifying the Distinctive
Competitive Advantage from the consumer while putting a strategy plan. It
may also reveal certain flaws in my strategy that I should examine when I
construct my strategic options.

Activity VRIO Comments

Value Rareness Imitable Organization

Inbound logistics:

√ √ × √ Temporary
Obtaining the best possible
competitive
equipment and tools
advantage

√ √ √ √ Sustainable
Reduce the cost without sacrificing
competitive
quality
advantage

Operations:

Acquires, exploits, develops, and √ × √ √ Competitive

explores for crude oil, natural gas, parity
and natural gas liquids as an
independent oil and gas business

√ √ √ √ Sustainable
particularly concerned with organic competitive
drilling advantage

ensure the possibility of recurring √ √ √ √ Sustainable

success and significant production competitive
growth advantage

Outbound logistics:

It is incredibly efficient to collect, √ √ √ √ Sustainable

store, and transport the product to competitive
customers advantage

Storage of high-quality completed √ × √ √ Competitive

goods parity

√ × √ √ Competitive
Material handling is excellent.
parity

√ × √ √ Competitive
Operation of the right delivery truck
parity

Marketing & Sales:

Advertising, promotion, and a √ √ √ √ Sustainable

strong sales staff are all important. competitive
advantage

Exceptional quotation and channel √ √ √ √ Sustainable

selection competitive
advantage

Pricing and channel partnerships are √ √ √ √ Sustainable

in good shape competitive
advantage

After sale service:

Improve or sustain the product's √ √ √ √ Sustainable

value after it has been sold and competitive
delivered advantage

Repairing wells, supplying parts, and √ √ √ √ Sustainable

adjusting products are all things that competitive
we do advantage

Management activities (Financial,

IT Department):

Acquire considerable technical and √ × √ √ Competitive

operational knowledge parity

Develop great experience in seismic √ √ √ √ Sustainable

imaging and interpretation, both competitive
conventional and 3-D advantage
Advanced geophysical and √ × √ √ Competitive
geological computer resources are parity
used to examine the data

√ √ √ √ Sustainable
Developed a vast geology and competitive
geophysical knowledge base advantage

Human Resources Management:

Everyone is regarded as if they were √ √ √ √ Sustainable

a leader competitive
advantage

Employees give their workplace a √ √ √ √ Sustainable

rating competitive
advantage

√ √ √ √ Sustainable
Happiness competitive
advantage

Research & Development:

Do something to improve their √ × √ √ Competitive

abilities parity

A higher degree of knowledge, skill, and √ √ √ √ Sustainable

competence in relation to job competitive
responsibilities benefits both the
advantage
Company and the employer
Support their staff by providing √ √ √ √ Sustainable
opportunities for continuous competitive
education, training, and seminar advantage
attendance

√ √ √ √ Sustainable
Opportunities for generous tuition
competitive
reimbursement
advantage

√ √ √ √ Sustainable
A new Learning Management
competitive
System has been developed (LMS)
advantage

Procurement:

√ √ √ √ Sustainable
Purchase additional drillable areas competitive
advantage

cover a portion of the purchase √ × √ √ Competitive

price parity

√ √ √ √ Sustainable
Has retaliated and is now spreading competitive
advantage

√ √ √ √ Sustainable
Asolid foundation of dependable
competitive
raw material suppliers
advantage
 IFAS

Weighted
Factor Weight Rate
Score
Strengths
1 Brand portfolio that is strong 0.1 5 0.5
2 A well-connected distribution network 0.1 5 0.5
3 The dealer community is strong. 0.06 4 0.24
4 Customer satisfaction is really high. 0.06 4 0.24
Mergers and acquisitions have a proven track
5 record of successfully integrating 0.06 5 0.30
complementary businesses.
Its Go To Market techniques for its products
6 0.09 5 0.45
have been extremely successful.

7 Suppliers who may be trusted 0.12 5 0.6

8 Activities can be automated 0.1 4 0.4

Sub total 0.69 3.23

Weaknesses
Research and development spending is lower
1 than that of the industry's fastest growing 0.04 3 0.12
companies.
The profitability ratio and net contribution
2 0.04 2 0.08
percent are both below average for the industry
More money should be put into innovative
3 0.09 4 0.36
technology
 Financial planning isn't done correctly or
4 0.03 2 0.06
efficiently enough
Integration of enterprises with distinct work
5 0.01 2 0.02
cultures has not been very successful
6 In the workforce, there is a high rate of attrition 0.04 3 0.12
Outside its main business, there has been limited
7 0.06 4 0.24
success
Sub total 0.31 1.00
Total 1 4.23
Whiting Petroleum Corporation, with a total score of 4.23, has the potential to
use its strengths and overcome its flaws, resulting in a strong internal
environment in which it may compete based on internal variables that provide a
distinct competitive advantage.

Strategic Factor Analysis

1- SFAS (Strategic Factor Analysis Summary):

Weighted
Factors Weight Rating
Score
Strengths
Brand portfolio that is strong 0.07 5 0.35

Mergers and acquisitions have a proven track record

0.09 5 0.45
of successfully integrating complementary businesses

Its Go To Market techniques for its products have

been extremely successful 0.08 5 0.4

Suppliers who may be trusted 0.06 5 0.3

Activities can be automated 0.05 4 0.2
 Subtotal 0.35 1.7
Weaknesses
More money should be put into innovative
0.06 4 0.24
technology
Outside its main business, there has been limited
0.05 4 0.20
success
Research and development spending is lower than
0.04 3 0.12
that of the industry's fastest growing companies
In the workforce, there is a high rate of attrition
0.03 3 0.09
Financial planning isn't done correctly or efficiently
0.02 2 0.04
enough
Subtotal 0.20 0.69
Opportunities
Technology advancements 0.08 5 0.40
Free cash flow that is stable 0.06 5 0.30
Government-led environmental initiative 0.05 5 0.25
Consumer behavior is changing in new ways 0.04 5 0.20
The evolution of the market 0.02 4 0.08

Subtotal 0.25 1.23

Threats
Competitor-developed innovations or a market
0.06 5 0.30
disruptor
Under the Paris Agreement, new environmental
0.05 5 0.25
restrictions will be implemented (2016)
There isn't a consistent supply of innovative products 0.04 4 0.16
In some worldwide markets, there is a shortage of
0.03 4 0.12
skilled workers
Lawsuits could be filed against the corporation in a
0.02 4 0.08
variety of markets
Subtotal 0.20 0.91
 Total 1 4.53

Whiting Petroleum Corporation, with a total weighted score of 4.53, is likely to be

able to capitalize on its strengths and chances while avoiding risks and
weaknesses.

TOWS matrix

Strength (S) Weakness (W)

S1 Brand portfolio that is strong
Internal factors
S2 Mergers and acquisitions have a
(IFAS)
proven track record of successfully
integrating complementary businesses
S3 Its Go To Market techniques for its
products have been extremely successful
S4 Suppliers who may be trusted
External factors
S5 Activities can be automated
(EFAS)
Opportunity (O) SO Strategies
S1,O5 > market penetration
O1 Technology This brand portfolio may be quite
advancements beneficial when it comes to expanding
O2 Free cash into new areas.
flow that is
stable S5,O1 > Service development
O3 Automation of processes utilizing
W1 More money should be put into
innovative technology
W2 Outside its main business, there
has been limited success
W3 Research and development
spending is lower than that of the
industry's fastest growing companies
W4 In the workforce, there is a high
rate of attrition
W5 Financial planning isn't done
correctly or efficiently enough
WO Strategies
O1,W1 > service development
Whiting Petroleum Corporation
will be able to use the new
technology to implement a
differentiated pricing strategy in
the new market, as well as
maintain its existing customers
Government-led modern technology helps ensure with excellent service and
environmental product quality uniformity and attract new customers through
initiative enable the organization to scale up additional value-oriented
O4 Consumer and down in response to market propositions.
behavior is demand. .
changing in new O2,W5 > product development
ways S3,O4 > profit strategy Stable free cash flow allows the
O5 The New consumer behavior patterns company to invest in adjacent
evolution of the combined with very successful product segments while also
market market strategies might create a having more cash on hand. The
significant chance for a company company can also invest in new
to generate new revenue streams. technologies and product
segments.

Threat (T) ST Strategies WT Strategies

T1 Competitor- S2,T1 > mergers & acquisition W1,T1 > market penetration
developed In the coming years, the company New technologies developed by the
innovations or a will combine a number of competitor or market disruptor could
market technological companies to be a serious threat to the industry in
disruptor streamline operations and develop medium to long term future, so they
T2 Under the products, based on its successful need to invest more in new
Paris track record of combining technologies to expand and to
Agreement, new complementary enterprises integrate the processes across the
environmental through mergers and acquisitions board.
restrictions will
be implemented S1,T4 > product development W1,T3 > profit strategy
(2016) This brand portfolio is an appealing tool There has been no investment in new
T3 There isn't a for competent people to join, which will technology, and there have been no
consistent aid in product development. inventive products. As a result, they
supply of should invest in new technologies in
innovative order to develop new products.
products
T4 In some
worldwide
markets, there
is a shortage of
skilled workers
T5 Lawsuits
could be filed
against the
corporation in a
variety of
markets

We will use the quantitative strategic planning matrix (QSPM) to give an

analytical tool for assessing possible alternative strategies based on the TOWS
matrix produced strategies.

Quantitative Strategic Planning Matrix (QSPM)

Service Market Product

No Strategic Factors development penetration
development
Wt. AS TAS Wt. AS TAS Wt. AS TAS

1 Brand portfolio that is strong (s) 0.07 4 0.28 0.07 5 0.35 0.07 4 0.28

Mergers and acquisitions have a proven

2 track record of successfully integrating 0.09 4 0.36 0.09 3 0.27 0.09 4 0.36
complementary businesses. (s)
Its Go To Market techniques for its
products have been extremely
3 0.08 3 0.24 0.08 4 0.32 0.08 3 0.24
successful. (s)

4 Suppliers who may be trusted (s) 0.06 3 0.18 0.06 3 0.18 0.06 4 0.24
 0.05 0.05
5 Activities can be automated (s) 0.05 3 0.15 2 0.1 2 0.1

More money should be put into

6 0.06 4 0.24 0.06 2 0.12 0.06 2 0.12
innovative technology (w)
Outside its main business, there has
7 0.05 4 0.20 0.05 2 0.1 0.05 3 0.15
been limited success (w)
Research and development spending is
8 lower than that of the industry's fastest 0.04 4 0.16 0.04 4 0.16 0.04 3 0.12
growing companies (w)
In the workforce, there is a high rate of
9 0.03 3 0.09 0.03 2 0.06 0.03 2 0.06
attrition (w)
Financial planning isn't done correctly
10 0.02 3 0.06 0.02 4 0.08 0.02 3 0.06
or efficiently enough (w)

11 Technology advancements (o) 0.08 4 0.32 0.08 4 0.32 0.08 4 0.32

12 Free cash flow that is stable (o) 0.06 4 0.24 0.06 3 0.18 0.06 3 0.18

Government-led environmental
13 0.05 3 0.15 0.05 3 0.15 0.05 3 0.15
initiative (o)
Consumer behavior is changing in new
14 0.04 3 0.12 0.04 3 0.12 0.04 4 0.16
ways (o)

15 The evolution of the market (o) 0.02 3 0.06 0.02 4 0.08 0.02 3 0.06

Competitor-developed innovations or a
16 0.06 4 0.24 0.06 2 0.12 0.06 3 0.18
market disruptor (T)

Under the Paris Agreement, new

17 environmental restrictions will be 0.05 4 0.20 0.05 3 0.15 0.05 3 0.15
implemented (2016) (T)

There isn't a consistent supply of

18 0.04 3 0.12 0.04 3 0.12 0.04 4 0.16
innovative products (T)
 In some worldwide markets, there is a
19 0.03 3 0.09 0.03 4 0.12 0.03 3 0.09
shortage of skilled workers (T)
Lawsuits could be filed against the
20 0.02 4 0.08 0.02 3 0.06 0.02 3 0.06
corporation in a variety of markets (T)
Total Score 1 3.58 1 3.16 1 3.24

Based on the data presented above, Whiting Petroleum Corporation should

consider implementing the following tactics in the order listed below:

1- Service development
2- product development
3- Market penetration

Recommended Strategy

Strategic alternatives:

1-Service development:
Whiting Petroleum Corporation is in charge of oil field equipment supplies and
service, as well as serving as contractors and representatives for international
companies working on oil and gas projects around the world. As a result,
petroleum development services are considered to be a part of the global energy
industry.
Exploring, producing, refining, transporting, and marketing these precious natural
resources and equipment both in their home country and internationally can help
the corporation to provide consistency of quality for products and enable it to
help supply the world with its vital oil and gas needs by using new technology.
2-Market penetration:
For obtaining oil field goods and services, the oil and gas business is a highly
competitive environment. Furthermore, marketing oil and natural gas products
makes it easier to attract and keep large investors. As a result, the lack of drilling
rigs or other equipment and services, as well as their high cost, may cause delays
or severe effects on their development and exploratory operations. Whiting
Petroleum Corporation's capacity to expand and integrate operations across the
board will be dependent on its strong brand portfolio and increased investment in
new technology.

3-Product development:
Petroleum products are hydrocarbon fractions generated from petroleum that
have a commercial value in bulk. Petrochemicals are a large group of hydrocarbon
compounds derived from petroleum that form the foundation of many industries.
As a result, Whiting Petroleum Corporation should put out more effort in this area
to
 Attract and retain qualified persons
 Use its stable free cash flow To invest in new technology and
That will result in development new products

Strategic objectives

Main Objective:

1. By 2025, Whiting Petroleum Corporation will have invested in

technology for all processes in all departments.
Tactics:

a. Increase sector-wide connectivity to reach 80% of employees with IT

capabilities, as well as registration of all email accounts to improve data
accessibility and advancements in data openness and sharing systems.
(Connection to the system).

b. Semiannual health and safety reports to reduce accident and operational costs
by 30% each year.

c. By 2022, improve human capabilities to address 40% of capacity software skills

and ERP system requirements.

d. A technical support team to assist with any technical issues that arise in any of
Whiting Petroleum Corporation's departments.

2. By 2025, improve the financial condition by 50% using new technology

equipment or processes.

Tactics:

a. Interpret financial statements using ratios after analyzing the profit and
loss account (income statement), balance sheet, and cash flow statement.

b. Recognize the significance of cash flow (rather than profit) and

Discounted Cash Flow (DCF).

c. Develop costing methods such as Activity-Based Costing (ABC) for optimal

decision-making to maximize shareholder wealth.

d. Recognize the role of managers in the budget process and the use of
Activity-Based Budgeting (ABB).

e. Calculate the cost of capital to assess alternative financing options and

the best financial structure.
 f. Reduce costs and enhance cash flow by effectively managing cash and
working capital.

The Resources
It is necessary to devote resources to ensure that:

 Environment in the industry is favorable for increasing and maintaining

investment inflows
 We need to know the financial resources in order to put the strategy plan
into action.
 To determine their activities and actions in order to make sure they are
appropriate for the Whiting Petroleum Corporation's budget.

 Taking into account the yearly expected cost * 4 to cover a four-year

plan, as well as the rate of inflation.

Resources Annual Estimated budget

Contract for VPN (Virtual Private Networks)
$ 60,000.000
technology with ISDN Company
Contract with a software developer $ 130,000.000
Contract with an online retailer $ 40,000.000
Hiring the assistance of qualified specialists is
$ 200,000.000
a good idea.
Internal and external training programs are
$ 9,000.000
available.
Courses on how to use technology in practice $ 1,000.000
Purchasing new machinery $ 130,000.000
Workshops $ 2,000.000
Advanced computers and new servers $ 14,000.000

The Proceedings of an IT Systems Seminar $ 300,000.000

Programs in technical fields $ 7,000.000
Committees of the American Petroleum
$ 7,000.000
Industry Conference
Total Budget $ 900.000.000
* For major projects, the budget was estimated using PERT
(Program Evaluation and Review Technique) weights as follows:
Optimistic percent + 4* most likely percent + pessimistic percent
/6

Implementation

 Working for Oil & Gas firms to adopt high-tech systems for many
decades has proven to be one of the primary reasons for them to
comprehend the commercial value, especially with the appropriate use
of technology.

Polices & Procedures:

1. According to the new strategic plan, Whiting Petroleum Corporation

will need to change the present plan phases and priorities for
implementation.
2. Hire a skilled technical support team to help control and simplify the
new Whiting petroleum corporation's computers and information
technology systems.
3. Improving consistency, creating explicit hardware and software
standards, and conducting regular evaluations to save costs and
improve performance. 
4. Invest hundreds, if not thousands, of hours studying and designing an
IT system for the company that covers critical areas including
communication and operations management, access control, system
and software development, and maintenance.

5. Continue to support the technological system in all sectors of the

companies involved until full implementation and efficient results are
achieved.
 Evaluation and Controlling
There are three key goals for evaluating technology system implementation:

• Selection evaluation
• Performance forecasting
• Performance tracking

Evaluation and Controlling:

 Managers use evaluation and control as crucial tools and essential aspects of
the management process to help them apply what they aim to accomplish.
 It's just the enormous amount of time and resources required to comprehend
and study the organization, its procedures, and culture, which could not be
covered within the scope and timeline of this thesis.
 "Indices or statistical data that allow direct characterization and evaluation of
technologies" could be defined as technology indicators.
 Internal and external satisfaction from the process established through
analyzing data acquired through questionnaires and surveys could be
qualitative indicators.
 There are several quantitative indicators that guide decision-makers and can
be tracked for the goal of taking evidence-based measures, such as a percent
rise in output and financial condition, or a decrease in operating costs as a
general strategic result that can be easily measured.
 In addition, the firm measures the amount of training programs, workshops,
and awareness sessions in Human Resources. A quantifiable measure could be
the percentage of tasks completed.
 Furthermore, the data collected by the use of a surveillance system, which
indicates the number of hours an employee spends at work, will help to clarify
the picture and allow for further refinement of the incentive system and
resource allocation.
 Another thing to keep an eye on is the degree of technology outsourcing; this
will offer Whiting Petroleum Corporation the key to the strategic alternative
that resulted in the QSPM, which was service development, by allowing it to
provide IT services to other competitors in the future.
 Implementation, Evaluation, and Control plan

No objective Action plan responsible Accountable Checked outcome (KPIs)

Increase the use Contract with an IT sector Manager of Quarterly 80 percent of The number of
of VPN (Virtual ISDN provider Decision support employees must new email
Private Network) team be reached, and accounts that
1
technologies all email accounts have been
across the must be created
industry registered.
Health and safety For daily Department of Manager of Semiannual Reduce Every six months,
reporting that is electronic (EH&S) + IT Decision support operational costs on average, 600
automated reporting, HSE team and accidents by electronic reports
employees will 30% are generated
2
receive on-the-
job training and
awareness
sessions
Human skills In collaboration Human It sector Quarterly Cover 40% of the Monthly HR
development with Microsoft, a resources + IT +Finance software capacity report on the
3 training program abilities required number of
must been by the company employees who
developed have been taught
Human skills ERP training Human It sector Quarterly ERP system with a The number of
development program resources + IT +Finance skilled workforce applications
4 (internal and processed using
external) ERP
 Data accessibility Deal with e- It sector IT Quarterly Improve your Surveys can be
should be business +Finance performance by used to gauge
5 improved (American using a reliable customer
telecommunicati internet satisfaction
on company) connection
Improve energy Workshops and Operation IT Semiannual 20 percent instead of 5.23
efficiency information sector reduction in mmtoe, reach
6 sessions on how annual energy 4.707 mmtoe
to use new consumption million tonnes of
equipment oil equivalent

Conclusion & Executive summary

 We recommend investing in technology for all processes in all

departments of Whiting Petroleum Corporation and improving the
financial situation by 50% through new technological equipment or
methods by 2025, based on a clear vision of all the opportunities and
strengths that characterize the company, as well as its strong brand
portfolio and distinguished geographic and international location.
 Creating a good infrastructure for a well-technical system that has been
created by facing all problems and having various strengths, taking into
account;

Information Technology Strategic Issues through Awareness

Sessions and Workshops.

Internal and external training, as well as a contract with

Microsoft, have resulted in highly qualified workforces.

To make the ERP model easier to use, upgrade the infrastructure

with new advanced computers, servers, technical support programs,
and a team

Increase sector-wide connectivity (VPN technology), as well as

data accessibility, openness, and sharing systems, by partnering with
an ISDN provider and an American telecommunications company.
 Increase staff understanding of the new American application
through awareness seminars and the creation of accounts for each
employee rotation utilized in emergency plans such as COVID 19 (Corona
virus)
Using high-tech equipment and expanding existing refineries is an
excellent approach to expand their capacity.
The Whiting Petroleum Corporation will benefit from technical
and financial assistance in establishing a fantastic unified integrity
database.
Expanding into new markets will boost technological experience,
give a strong cash flow as resources in hand for developing new
initiatives, and allow for the import of new high-tech equipment.

Big data challenges include the necessity for a central database,

as well as the development of highly qualified human resources
capable of doing understandable analytics and taking action based on
that analysis.

References

https://www.reuters.com/companies/WLL.N

/https://whiting.com/about-whiting-petroleum

/https://whiting.com/about-whiting-petroleum/history-of-whiting-petroleum

https://www.comparably.com/companies/whiting-petroleum-corporation/mission

https://whitingpetroleumcorp.gcs-web.com/static-files/a3169437-4b52-4ee7-b62e-9983e744d09c

/https://whiting.com/corporate-governance/board-of-directors

/https://whiting.com/corporate-governance/executive-officers

http://fernfortuniversity.com/term-papers/pestel/nyse4/526-whiting-petroleum-corporation.php

/https://whiting.com/community-outreach

/https://whiting.com/sustainability/health-safety

https://whitingpetroleumcorp.gcs-web.com/static-files/a3169437-4b52-4ee7-b62e-9983e744d09c

https://www.ipl.org/essay/Porters-Five-Forces-In-The-Oil-And-P39KESK6CED6
/https://www.porteranalysis.com/porters-five-forces-of-oil-natural-gas

/https://www.marketbeat.com/stocks/NYSE/WLL/competitors-and-alternatives

http://fernfortuniversity.com/term-papers/swot/nyse/526-whiting-petroleum-corporation.php

/https://www.business-to-you.com/value-chain

/https://whiting.com

/https://whiting.com/about-whiting-petroleum/u-s-operations

https://www.annualreports.com/HostedData/AnnualReportArchive/w/NYSE_WLL_2014.pdf

https://www.annualreports.com/HostedData/AnnualReportArchive/w/NYSE_WLL_2014.pdf

https://whitingpetroleumcorp.gcs-web.com/static-files/a3169437-4b52-4ee7-b62e-9983e744d09c

https://www.investing.com/equities/whiting-petroleum-corp-financial-summary

https://www.investing.com/equities/whiting-petroleum-corp-ratios

https://www.comparably.com/companies/whiting-petroleum-corporation/human-resources

/https://whiting.com/sustainability/health-safety/training-and-development

/https://www.kfyrtv.com/2021/09/28/whiting-petroleum-corporation-expands-bakken

https://www.linkedin.com/company/petroleum-development-services

https://www.linkedin.com/company/petroleum-development-services

https://csimarket.com/stocks/compet_glance.php?code=WLL

https://www.willistonherald.com/news/oil_and_energy/whiting-emerges-from-bankruptcy-ideally-
positioned-for-merger-or-acquisition/article_8b7fe512-ed69-11ea-bdcf-d325eac99566.html

https://www.sciencedirect.com/topics/engineering/petroleum-product

https://ebs.online.hw.ac.uk/EBS/media/EBS/PDFs/Strategic-Planning-Oil-Gas-Industry-Course-Taster.pdf

https://glomacs.com/training-course/certificate-in-financial-management-for-oil-and-gas-companies-
petrochemical-industries

/https://whiting.com/investor-relations

https://books.google.com.eg/books?
id=rdKwQMnQmiYC&pg=PA176&dq=What+is+the+APG+seminars&hl=ar&sa=X&ved=2ahUKEwiAxIKWq
p30AhWDnVwKHbZIDxkQ6AF6BAgEEAI#v=onepage&q=What%20is%20the%20APG
%20seminars&f=false

https://books.google.com.eg/books?id=K6fBrQEACAAJ&dq=Policies+
%26+Procedures+for+technology+system&hl=ar&sa=X&redir_esc=y
https://books.google.com.eg/books?
id=mgtHAAAAMAAJ&q=evaluation&dq=evaluation&hl=ar&sa=X&ved=2ahUKEwivvs7V2p30AhVD8hQKH
UO-BDEQ6AF6BAgHEAI

https://d1wqtxts1xzle7.cloudfront.net/54725141/Evaluation-of-Petroleum-Products-Marketing-in-a-
Globalizing-Economy-A-Conceptual-Evidence-from-Nigeria-with-cover-page-v2.pdf?
Expires=1637108555&Signature=HvVHtyHzCsu9soZ-
aoDiwEsK8IDgrYu0I4tKgxK0A7WsaRs4fXzznU22RnAZd5FC3E5XYR4fs3ySHa04XVMBXjmIqEOpWo-
UyvUs6qO7KoAmBVX6xrl3ZhVU8mYq0fKfVvK7biKcERHc0B57Rn1aE3xTBWWG8bBlU5nFOEXraTjZtOfvbq
hvy6nGWVKYvQQxV9z~O5S4AtqiBVqxPEjC3hpKf2t~3wv9AHP73slNVDp2IOpzYBQHhHflfvGigISrzN~4OLH
fGV1AMuc1CdJ7T2m3Qn-2UJZILnCCqebSaQxKDrm-
NdO6z8hUbn67w4k8OlAjA4J0IVa9ohBUCRcTsw__&Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA

https://odr.chalmers.se/bitstream/20.500.12380/142450/1/142450.pdf

https://odr.chalmers.se/bitstream/20.500.12380/142450/1/142450.pdf