WLL Delivers Another Quarter of Free Cash Flow; Balance Sheet Repair Points to Solid 2017 and Beyond
Whiting Petroleum delivered generally positive third-quarter results, highlighted by a second consecutive quarter of free cash flow generation, continued debt pay down, and strong performance from its upsized Bakken completions. Despite debt levels remaining elevated--ending the quarter north of five times net debt/EBITDAX--the company remains in good shape from a covenant standpoint. Recent balance sheet repair efforts (including asset sales, joint ventures, and the issuance of near-dated conve...
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