Whiting Petroleum has entered into a merger agreement with Oasis Petroleum, which is engaged in exploration and production of hydrocarbons. Whiting shareholders will receive 0.5774 shares of Oasis and $6.25 for each of their securities. After the merger, they will own about 53% of the combined company, which will have a total value of about $6 billion. The deal is scheduled to close in the 2nd half of 2022.