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Forum - Wall Street Pit (Whiting Petroleum Corporation - WLL)    Stock Due Diligence for All

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From: efbailey (Rep: 1765) reply to deaconmikeDate: 04/01/2020 08:49
Forum: Wall Street Pit - Msg #2830501 - List WLL msgs Thread #674138942 (Rec: 0)
Re: files chapter 11 prob start seeing more of these

yeah, they even say in the pr they have $585 million in cash. so did they blow through $65 million in 2 days?



Reply to deaconmike - Msg #2830498 - 04/01/2020 08:45

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.
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