Re: files chapter 11 prob start seeing more of these
And 2 days ago, I read this
Whiting Petroleum Corp. (NYSE: WLL) drew $650 million from its available credit to ensure the oil and gas company has money available amid falling oil prices. The Denver-based company sought to guarantee that it has “sufficient liquidity to fund ongoing operations,” it said after drawing on the funding, which was announced Friday. Whiting has “more than enough liquidity to continue its daily business and satisfy obligations to its employees and vendors with minimal interruption” as it weighs how to handle looming debt maturities and an oil-price collapse.