Credit Suisse analyst Betty Jiang noted that Whiting Petroleum shares came under "severe pressure" yesterday after Debtwire reported the company was in talks with advisors about capital structure remedies. While the company hasn't commented on the report, she said "the fact of the matter" is that Whiting needs to seek "punitive alternative measures" to refinance their upcoming 2020/2021 debt maturities given that oil prices are in the low-$50s. Even if an "up-tier exchange," which is reported to be discussed, enables Whiting to push out the maturities, it would put the company in a worse financial position, said Jiang, who lowered her price target on the stock to $1 from $5 to account for the increasing risk profile. She maintains an Underperform rating on the stock.