Whiting Petroleum Corp. said it successfully completed its financial restructuring and emerged from Chapter 11 protection.
- Whiting’s new capital structure includes a new $750 million reserve based revolving credit facility maturing in April 2024
- Current Whiting holders to receive 1 share of reorganized Whiting’s new common stock for about every 75 shares previously owned
- James Henderson has assumed the role of chief financial officer, effective today
- Henderson succeeds Correne Loeffler, who has resigned to pursue other interests following the restructuring
- Trading of new common stock to commence on NYSE under Ticker “WLL” on Sept. 2
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