Whiting Petroleum borrows $650 million under revolver

By Wendy Van Sickle

Columbus, Ohio, March 27 – Whiting Petroleum Corp. borrowed $650 million under its revolving credit facility in light of the extreme volatility in the capital markets and the uncertain outlook for commodity prices and the economy due to the Covid-19 pandemic, according to a news release.

The company said the borrowings provide it with more than enough liquidity to continue its daily business and satisfy obligations to its employees and vendors with minimal interruption.

Whiting is an independent oil and gas company based in Denver.

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