JP Morgan Sees More Clarity Now On Balance Sheet And Liquidity For Whiting Petroleum

In a report published Friday, JP Morgan analyst Joseph Allman reiterated an Overweight rating and $45.00 price target on Whiting Petroleum Corp. (NYSE: WLL).

In the report, JP Morgan noted, "Whiting issued equity, convertible notes and senior notes, totaling $2.75 Bn. These offerings dramatically improve liquidity, term out debt and enable WLL, in December, to call relatively expensive 8 1/8% notes to reduce borrowing costs."

Whiting Petroleum closed on Thursday at $31.54.