Shale Driller Whiting Scraps Sale, Falls Most Since November

Whiting Petroleum Corp. fell the most in more than three months after giving up on finding a buyer and instead selling shares and raising debt to clean up its balance sheet.

The largest oil producer in North Dakota’s Bakken shale region is tapping capital markets after shopping itself to Exxon Mobil Corp. and at least three other companies, according to people familiar with the matter, who asked not to be identified because the discussions weren’t public. The stock slumped the most since Nov. 28.