2020-04-02 | 04:42
[size=18]The Wall Street Journal reported that the American drilling company, Whiting Petroleum Corporation, has started bankruptcy procedures in light of the sharp drop in oil prices.
This would be the first American company to start bankruptcy at the present time due to a drop in crude prices, which fell by 50% in less than a month.
Although the " [url=https://www.alsumaria.tv/Entity/668960601/%D9%88%D9%88%D9%84 %D8%B3%D8%AA%D8%B1%D9%8A%D8%AA %D8%AC%D9%88%D8%B1%D9%86%D8%A7%D9%84/ar/]Wall Street Journal[/url] " said that the American company mentioned began on April 1, bankruptcy procedures, but the company said in a statement, it had begun a process of financial restructuring due to lower energy prices.
It owns [url=https://www.alsumaria.tv/Entity/2314286479/Whiting Petroleum Corporation/ar/]Whiting Petroleum Corporation[/url] about $ 585 million in its bank accounts, but the city of loans worth $ 2.2 billion.
In light of that, the company's share price fell by a noticeable 45%, to be trading at $ 0.39 per share.
The American newspaper does not exclude the possibility of the failure of other shale oil companies in the United States, due to the accumulation of large debts, coinciding with the collapse of black gold prices.