The US shale oil and gas producers Whiting Petroleum Corporation and Oasis Petroleum have entered into an agreement to combine in a merger of equals transaction. The combined company will have a premier Williston Basin position in North Dakota and Montana (United States) with a combined production of 167.8 kboe/d. The combined company will have an enterprise value of around US$6bn based on the exchange ratio and the closing share prices for Whiting and Oasis as of 4 March 2022. The transaction, which is expected to close in the second half of 2022, has been unanimously approved by the boards of directors of both companies. Whiting shareholders will own approximately 53% and Oasis will own 47% of the new entity. The two companies had filed for Chapter 11 bankruptcy in 2020 following a crash in energy prices due to the pandemic.