Whiting is ‘strongly positioned’ regarding liquidity, debt maturities

By Devika Patel

Knoxville, Tenn., Aug. 14 – Whiting Petroleum Corp. is “strongly positioned from a liquidity and debt maturity perspective,” the company’s top executive said, and the company remains within its debt covenants.

“We have a solid balance sheet with no maturities until 2019,” president and chief executive officer James J. Volker said at the EnerCom Oil & Gas Conference in Denver on Monday.

“We remain well within all of our [debt] covenants and strongly positioned from a liquidity and debt maturity perspective,” he said.

Volker said that the company had $550 million drawn at quarter’s end on a $2.5 billion borrowing base, resulting in about $2 billion of liquidity.

Whiting is an independent oil and gas company based in Denver.

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