Research Update: Whiting Petroleum Corp. Upgraded to 'BB+' On Increased Scale; Outlook Stable Jan 12
- Language: English
- Published: January 2012
On July 6, 2006, Standard & Poor's Rating Services raised its corporate credit rating on independent oil and gas exploration and production (E&P) company Whiting Petroleum Corp. to 'BB-' from 'B+'. The rating was removed from CreditWatch with positive implications. The outlook is stable. Denver, Colo.-based Whiting had $894 million of debt as of March 31, 2006. Following the recent change of Standard & Poor's base case oil pricing assumptions in May 2006, Whiting's corporate credit rating was placed on CreditWatch with positive implications. Upon examination of the company's projected cash flows and credit measures under these pricing assumptions, as well as an assessment of the company's reserve base, drilling prospects, and financial leverage, we determined Whiting's risk profile to...
Companies mentioned in this report are: Whiting Petroleum Corp.
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.