First Casualties of Low Oil Price – Whiting Petroleum Offers Itself For Sale

'Whiting_Petroleum_Corporation_LogoDenver’s Whiting Petroleum begins search for a buyer
Mar 9, 2015 – Staff – Denver Business Journal

Denver’s Whiting Petroleum Corp. is looking for a buyer again, several years after it last tried that approach.

The move comes three months after Whiting (NYSE: WLL) bought another Denver energy company, Kodiak Oil & Gas Corp., creating the largest crude-oil producer in the bountiful Bakken shale region of the northern Great Plains. The combined company has a market cap of about $6.2 billion.

Citing people familiar with the matter, The Wall Street Journal reported Whiting (NYSE: WLL) is taking the step because the falling price of crude oil has been hurting the oil and gas producer, with revenue and share price both down.

Continue reading at The Denver Business Journal

Share Button
Print Friendly, PDF & Email
This entry was posted in Drilling, Economy, Exploration and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *