Approximate $3.0 Billion Reduction in Funded Debt; Trading of New Common Stock to Commence on NYSE under Ticker "WLL" on September 2, 2020
successfully completed its financial restructuring and emerged from Chapter 11 protection. Whiting officially concluded its reorganization after completing all required actions and satisfying the remaining conditions to its Plan of Reorganization (the "Plan").
Whiting’s new capital structure includes a new $750 million reserve based revolving credit facility ("New RBL Facility") maturing in April 2024.
New Leadership and Board of Directors
Listing on the NYSE
In connection with emergence from Chapter 11, all of the Company’s existing equity interests will be cancelled and will cease to exist, effective before the market opens on September 2, 2020.