Whiting files for Chapter 11 bankruptcy as oil prices hover at $20

Whiting files for Chapter 11 bankruptcy as oil prices hover at $20

(Reuters) - Whiting Petroleum Corp ( WLL.N ) said on Wednesday it filed for Chapter 11 bankruptcy, the first major casualty of a free fall in crude prices to $20 per barrel last month.. Whiting, which was expected to produce about 42 million barrels of oil equivalent in 2020, said it would continue to operate its business in the normal course without material disruption to its vendors, partners or employees.. PJT Partners is acting as financial adviser for creditors..