American oil company Whiting Petroleum filed for bankruptcy
US, WASHINGTON (ORDO NEWS) — Amid falling prices for black gold, the American company Whiting Petroleum filed for bankruptcy. The company specializes in the production of shale oil. This is the first US company to specialize in declaring bankruptcy.
The company notes that it still has $ 585 million on its balance sheet, so work will continue as normal for suppliers, partners or employees. The company’s debt is 2.2 billion dollars. The cost of one share is 0.39 percent. Prior to declaring bankruptcy, stocks were 45 percent more expensive.
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