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Bulletin: Whiting Petroleum Corp. Rating Unaffected By Purchase Of New Property May 08
Standard & Poors, May 2008
Abstract
NEW YORK (Standard & Poor's) May 5, 2008--Standard & Poor's Ratings Services said today that its 'BB-' corporate credit rating on oil and gas exploration and production company Whiting Petroleum Corp. was unaffected by the company's announcement that it will acquire properties in the Uinta Basin in northeastern Utah for $365 million. While Whiting's adjusted debt will increase to more than $1 billion as a result of the transaction, its credit measures remain at acceptable levels, with debt to barrel of oil equivalent in the $5 area....
Companies mentioned in this report are: Whiting Petroleum Corp.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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