| Whiting Petroleum shares sink as it sells hares to pay debt | |
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NEW YORK (AP) -- Shares of Whiting Petroleum fell sharply Tuesday, a day after the company said it would sell its shares and senior notes to pay down debt related to its $6 billion acquisition of Kodiak Oil & Gas.
The oil and gas company said late Monday that it will offer 35 million of its shares and said underwriters had a 30-day option to purchase an additional 5.25 million in shares. The stock offering could bring Whiting more than $1.5 billion, based on its stock's closing price of $38.39 on Monday.
In addition, Whiting said it will sell $1.75 billion in senior notes. About $1 billion are due in 2020 and $750 million are due in 2023.
Whiting, based in Denver, completed its acquisition of Kodiak in December.
Shares of Whiting Petroleum Corp. dropped $7.83, or 20.4 percent, to $30.56 in premarket trading Tuesday. Its shares are down about 44 percent in the last 12 months.
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Whiting Petroleum Corporation
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CODE : WLL |
ISIN : US9663871021 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Whiting Petroleum is a oil producing company based in United states of america. Whiting Petroleum is listed in Germany and in United States of America. Its market capitalisation is US$ 6.2 billions as of today (€ 6.1 billions). Its stock quote reached its highest recent level on August 22, 2008 at US$ 99.26, and its lowest recent point on April 03, 2020 at US$ 0.25. Whiting Petroleum has 90 927 193 shares outstanding. |