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Whiting Petroleum Debt Restructuring

  • Writer: Ishfaaq Peerally
    Ishfaaq Peerally
  • Apr 28, 2020
  • 1 min read

A few weeks ago, Whiting Petroleum filed for a Chapter 11 Bankruptcy. The oil company already negotiated with its bondholders, giving them 97% of equity in the company instead of paying the debt outstanding. Whiting Petroleum expects to come out of bankruptcy in five months and they recently got a notice from the NYSE that they may be delisted if their shares remain below $1.

The stock price of Whiting petroleum gained nearly 400% in just a couple of days. Is it time to buy Whiting Petroleum? You can read the full analysis on my research partnership: https://ishfaaqpeerally.teachable.com/courses/662813/lectures/16458253

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