- Whiting Petroleum (NYSE:WLL) -- pressed by the tanking price of crude oil, and having cut its 2015 capex in half -- is for sale, The Wall Street Journal reports.
- The $5.8B company just closed on its $3.8B acquisition of Kodiak Oil and Gas in December but is now entering its own auction process, sources say -- although with no clear suitors on the horizon.
- Whiting considered a sale in 2012 but backed off without finding its asking price. Now Whiting joins Penn Virginia on the auction block.
- Pressed by debt and impairment charges for undeveloped properties, the stock has tumbled 61% over the past six months, -8.6% over the past three.
- Previously: Whiting Petroleum posts Q4 miss, cuts 2015 capex in half as output grows (Feb. 25 2015)