(Bloomberg) — The unprecedented collapse in global oil markets brought another driller to its knees, forcing a champion of what was once the premier U.S. shale field to seek protection from creditors.Whiting Petroleum Corp., facing more than a quarter-billion dollar debt maturity, filed for bankruptcy Wednesday, perhaps the most illustrious of the shale explorers thus far humbled by an unforgiving rout in every corner of the oil business.American crude has surrendered two-thirds of its value this year and just closed out its worst-ever quarterly performance. As many as 70% of the nation’s 6,000 oil explorers eventually may go under, according …read more
Source:: Yahoo Finance
