U.S. oil and gas company Whiting Petroleum Corp said yesterday that it had emerged from chapter 11 protection and completed its financial restructuring, shrinking its funded debt by about $3 billion, Reuters reported. Whiting had become the first publicly traded shale producer to file for bankruptcy in April after the historic crash in crude prices in the previous month. The company said its capital structure includes a new $750 million reserve-based revolving credit facility maturing in April 2024. Shares of the company’s new common stock will start trading on the New York Stock Exchange under the ticker symbol “WLL” today.
