Coronavirus, crude price wars combine to bring first large Chapter 11 filing under price crunch

摘要

Whiting Petroleum, a major oil and gas producer in the Bakken Shale and Denver-Julesburg Basin, announced Monday it had filed a Chapter 11 plan, as the decimated global demand for crude draws more blood. “Through the proposed terms of the plan of reorganization, we believe a right-sized balance sheet will enable us to capitalize on our enhanced cost structure, high-quality asset base and successfully compete in the current environment,” Whiting CEO Bradley Holly said in a statement.