Eventually, on April 1, 2020, Whiting filed for Chapter 11 protection. The ensuing restructure plan, announced September 1, 2020, gave debt holders 97% of newly issued common stock, leaving just 3% new common stock for existing shareholders. Whiting today is a different animal to its previous incarnation.
Will WLL recover?
Without a renewable play or some other source of growth, WLL is completely reliant on a strong recovery in oil prices. That looks unlikely even in a best-case scenario. For that reason, most investors should stay well away from WLL stock.
Who is buying Whiting Petroleum?
Fundare Resources Company LLC, a private equity-backed Denver company funded in February, is buying the 67,278-acre Redtail oil development in northeast Weld County from Whiting Petroleum in a deal expected to close by fall.
Why did Whiting Petroleum go down?
Shares of Whiting Petroleum Corp. plunged in volatile trading to a record low, after a Debtwire report that the oil-and-gas company had engaged with advisers in an effort to find ways to refinance the large amount of debt coming due over the next year.
Does Whiting Petroleum pay dividends?
The current TTM dividend payout for Whiting Petroleum (WLL) as of September 24, 2021 is $0.00. The current dividend yield for Whiting Petroleum as of September 24, 2021 is 0.00%. Whiting Petroleum Corporation is an oil and gas company.