Whiting Petroleum Corporation · Corporate
Whiting Petroleum Corporation: bankruptcy, 2020
Whiting Petroleum Corporation: bankruptcy credit event on 2020-04-01, worked through from its SEC filings. The 6.625% Senior Notes due 2026 (CUSIP 966387BG6) are a Deliverable Obligation: all 7 checks pass. Each result cites the clause behind it, or says when it rests on the absence of a clause.
Verified answerWhiting Petroleum Corporation · Bankruptcy · 2020
Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?
Yes, deliverable
6.625% Senior Notes due 2026 pass all 7 checks, each tied to its clause.
What CDSBench does
Your bonds, checked
Upload the indenture and get this page for your own position.
Before and when
Ready before a credit story breaks, and the moment it does.
Every answer sourced
Clause-level evidence you can show a committee.
Verified outcome
Basis. All 7 checks pass on the record: the issuer is the Reference Entity, the instrument meets the Maximum Maturity, Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics, and it is Not Contingent.
Source clauses
- Reference entity
- Whiting Petroleum Corporation
- Credit event
- Bankruptcy · 2020-04-01
- Entity type
- Corporate
- Documents
- 3 in the record
Instruments
Each obligation has its own page with terms and questions.
- 6.625% Senior Notes due 2026Eligible
Whiting Petroleum Corporation · CUSIP 966387BG6
8 questions
Questions and verified answers
Open a question for the verified answer, its basis and how it was checked. Clause links open the documents below.
- #1 Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?Eligible
- #2 Does the instrument meet the Maximum Maturity characteristic (30 years)?Yes
Fifth Supplemental Indenture of 2017-12-27
- #3 Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?Yes
Fifth Supplemental Indenture of 2017-12-27
- #4 Does the instrument meet the Not Subordinated characteristic?Yes
Fifth Supplemental Indenture of 2017-12-27
- #5 Does the instrument meet the Not Bearer characteristic?Yes
Fifth Supplemental Indenture of 2017-12-27
- #6 Is the instrument Not Contingent (principal not reducible for a reason other than payment)?YesNone: no clause making principal contingent was found.
- #7 Does the instrument meet the Transferable characteristic?Yes
Fifth Supplemental Indenture of 2017-12-27
- #8 Is the issuer of the instrument the Reference Entity?Yes
Fifth Supplemental Indenture of 2017-12-27
Documents
The case record. 10 sections support the verified answers.
- DOC-1 Whiting 8-K filed 2020-04-01, Item 1.03 Bankruptcy (and Item 2.04), petition 2020-04-01excerpts
- DOC-2 Fifth Supplemental Indenture dated December 27, 2017, 6.625% Senior Notes due 2026 (EX-4.2)excerpts
- DOC-3 Senior Indenture dated September 12, 2013 (base indenture, EX-4.1)excerpts
Timeline
- 2017-12-27Fifth Supplemental Indenture for the 6.625% Senior Notes due 2026 (filed as Exhibit 4.2), under the senior indenture of 12 September 2013.
- 2020-04-01Whiting Petroleum Corporation and certain subsidiaries commence voluntary Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas.
Real cases
More real cases
Other credit events worked through from public filings, each with its verified answer.
Mastermind
Analyse your own bond like this
Upload the documents for a bond you hold or are looking at. Mastermind runs the same deliverability checks and ties every conclusion to its clause: useful before a credit story breaks, and the moment it does.
Private analysis requires Mastermind Pro ($499 / month); the price is shown before any checkout.