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Whiting Petroleum Files for Bankruptcy

TheMotleyFool

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Whiting Petroleum (NYSE: WLL) is the first casualty of the oil market crash. The oil company, which is a leading producer in North Dakota's Bakken shale, filed for Chapter 11 bankruptcy to restructure its debt.

Whiting has already reached an agreement in principle with certain holders of its senior notes due in 2021, 2023, and 2026, as well as its convertible senior notes due this year. The plan would:

Image source: Getty Images.

Source Fool.com

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