Worst yet was the fate of smaller, less diversified Whiting Petroleum, whose credit rating slashed five levels as opposed to the two level drops for ConocoPhillips and Anadarko Petroleum. In Whiting Petroleum's case, its credit rating was reduced from Ba2 all the way down to Caa1, with its credit rating agency citing a "heightened risk of a debt restructuring," which in a worst-case scenario could cause Whiting to reorganize via bankruptcy. Also, Whiting Petroleum's credit rating suggests that it has substantial current financial risks, as shown by the fact that it needed to slash its capital spending by 80% for 2016. Because of that cut, Whiting Petroleum is in the process on winding down its fracking operations, which will cause its production to decline by 18.5% over last year's average.