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Whiting shares plunge 38% on Q2 earnings miss, ongoing production constraints

Aug 02, 2019 - SNL Energy Finance Daily
Financial Results

Whiting Petroleum Corp.'s stock price took a beating Aug. 1, just hours after the company reported a surprise loss in the second quarter, scaled back its production guidance for the rest of the year and cut 33% of its workforce.

The North Dakota-focused oil producer's stock price on the New York Stock Exchange plunged soon after the opening bell and never recovered, ending the session more than 38% lower on the day at $10.84 per share.

In its second-quarter earnings released after th...