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Whiting Petroleum
Whiting Petroleum

Whiting Petroleum to offer 35 million shares to reduce debt

WILLISTON, N.D. – Whiting Petroleum Corp , the largest North Dakota oil producer, said on Monday it would sell 35 million shares of common stock to help cull its $5.63 billion debt load.

JPMorgan is running the company’s stock offering.

Shares of Whiting fell 9 percent to $34.88 in after-hours trading after the offering was announced.

(Reporting by Ernest Scheyder; Editing by Phil Berlowitz)

Related: Whiting to sell part of company, not whole

 

This article was from Reuters and was legally licensed through the NewsCred publisher network.

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