U.S. shale driller Whiting Petroleum Corp. filed for bankruptcy protection on Wednesday, becoming the first sizable fracking company to succumb to the crash in oil prices.
Whiting’s bankruptcy filing comes as many U.S. oil drillers face pressure to meet hefty debt obligations they took out from banks and bondholders to make America into the world’s largest oil and gas producer, as U.S. benchmark crude prices drop to their lowest levels in nearly two decades….
