Exhibit 99.1

Whiting USA Trust II

Whiting USA Trust II Announces Trust Quarterly Distribution

WHITING USA TRUST II

The Bank of New York Mellon Trust Company, N.A., Trustee

 

LOGO

FOR IMMEDIATE RELEASE

Austin, Texas, February 7, 2014 – Whiting USA Trust II (NYSE Symbol – WHZ) announced the first Trust distribution in 2014, which relates to net profits generated during the fourth quarterly payment period of 2013.

Unitholders of record on February 19, 2014 will receive a distribution of $0.651431 per unit, which is payable on or before March 3, 2014.

Volumes, average sales prices and net profits for the quarterly payment period were:

 

Sales volumes:

  

Oil (Bbl)(1)

     321,610   

Natural gas (Mcf)

     632,054   
  

 

 

 

Total (BOE)

     426,952   

Average sales prices:

  

Oil (per Bbl)(1)

   $ 84.94   

Natural gas (per Mcf)(2)

   $ 5.03   

Gross proceeds:

  

Oil sales(1)

   $ 27,317,111   

Natural gas sales

     3,178,716   
  

 

 

 

Total gross proceeds

   $ 30,495,827   
  

 

 

 

Costs:

  

Lease operating expenses(3)

   $ 12,345,471   

Production taxes

     1,625,904   

Development costs

     2,978,818   

Realized (gains) losses on hedging settlements(4)

     —     
  

 

 

 

Total costs

   $ 16,950,193   
  

 

 

 

Net profits

   $ 13,545,634   

Percentage allocable to Trust’s Net Profits Interest

     90
  

 

 

 

Total cash available for the Trust

   $ 12,191,071   

Provision for estimated Trust expenses

     (200,000

Montana state income taxes withheld

     (4,744
  

 

 

 

Net cash proceeds available for distribution

   $ 11,986,327   

Trust units outstanding

     18,400,000   
  

 

 

 

Cash distribution per Trust unit

   $ 0.651431   
  

 

 

 

 

  (1)

Oil includes natural gas liquids.


The following information was filed by Whiting Usa Trust Ii (WHZT) on Friday, February 7, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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