WLL WHITING PETROLEUM CORP Aims to Exit Chapter 11

Bankrupt shale driller Whiting Petroleum Corp. says it’s on track to emerge from bankruptcy this summer after filing Chapter 11.
Yet in the Denver-based oil company’s agreement with its bondholders, 97% of the new equity from the reorganization will go to Whiting’s debt investors, while only 3% will go to the current holders of Whiting’s stock.
Wll has a Market Capitalization of 115.18M

But let me tell you a short story about the shares of American Airlines’ parent company, AMR Corp.
AMR filed for bankruptcy in November 2011. AMR listed $29.6 billion in debt and only $24.7 billion in assets.
Shares of AMR stock plummeted the day it filed for bankruptcy, closing at 26 cents.
In of 2012, AMR shares traded below $1. The stock was delisted from the New York Stock Exchange in January 2012 because it could not maintain the listing requirements.
In February 2013, AMR announced plans to merge with US Airways as part of its bankruptcy restructuring and shareholders were told they would receive at least 3.5 percent of the new company. The AMR’s creditor claims were paid in full.
In conclusion, as the company grew, if you would bought 10 000 usd shares of that bankrupt AMR in 2012, you had more that 1 000 000 usd in Feb 2015.
This is not financial advice and buying this kind of shares is very risky, as debt holders have priority to collect what they’re owned and there’s usually nothing left for shareholders.
The oil drop in prices may eventually lead to collapse of regimes in Nigeria, Saudi Arabia, and other oil dependent economies.

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