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Why Whiting Petroleum Is Up 8% Today

TheMotleyFool

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Whiting Petroleum (NYSE: WLL) shares are up 7.7% as of 11:40 a.m. EDT after the company completed its restructuring and resumed trading on the NYSE yesterday. Whiting was the first publicly traded shale producer to file for bankruptcy protection in April, after the March crash in the oil market.

Whiting said its restructuring plan lowered its debt by approximately $3 billion, leaving it with a debt load of $425 million and $336 million in total liquidity as of Sept. 1, 2020. Its total debt does not include outstanding letters of credit or capital lease obligations, it said.

Source Fool.com

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