Whiting Petroleum changing CEO, shedding debt as it nears Chapter 11 exit

Whiting Petroleum will have a new CEO when it emerges from its multibillion-dollar Chapter 11 bankruptcy reorganization next month.

CEO and Chairman Brad Holly will continue to lead the Denver-based oil company through reorganization, which is expected to conclude Sept.1.

Lynn Peterson, most recently CEO and chairman of Denver-based oil and gas producer SRC Energy Inc., will become Whiting Petroleum’s top executive after its reorganization and join Whiting’s board.

Peterson had led SRC Energy,…