Whiting Petroleum (WLL) commenced voluntary Chapter 11
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Whiting Petroleum Corporation Reaches Agreement in Principle with Certain of Its Noteholders to Pursue Consensual Financial Restructuring
April 1, 2020 8:31 AM EDTCommences Chapter 11 Reorganizational Process to Right-Size Capital Structure
DENVER--(BUSINESS WIRE)-- Whiting Petroleum Corporation (NYSE: WLL) and certain subsidiaries (collectively, Whiting or the Company) today announced that they had commenced voluntary Chapter 11 cases under the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas (the Bankruptcy Court). The Company has more than $585 million of cash on its balance sheet and will continue to operate its business in the normal course without material disruption to its vendors, partners or employees. Whiting currently expects to have sufficient liquidity to meet... More
