Whiting had become the first publicly traded shale producer to file for bankruptcy in April after the historic crash in crude prices in the previous month.
The company said its capital structure includes a new $750 million reserve-based revolving credit facility maturing in April 2024. Shares of the company’s new common stock will start trading on the New York Stock Exchange under the ticker symbol “WLL” on Wednesday. Whiting also appointed James Henderson as its new chief financial officer, replacing Correne Loeffler, weeks after it said chief executive officer Bradley Holly will be replaced once the company emerges from bankruptcy.
Both Holly and Loeffler received multi-million dollar payouts from the company just days before it filed for bankruptcy.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »