Whiting Petroleum Corp Announces Completion of $400 Million of Senior Notes Due 2021

Thursday, 26 Sep 2013 04:00pm EDT 

Whiting Petroleum Corp announced that it completed its previously announced private offering to eligible purchasers of $400 million aggregate principal amount of 5.750% senior notes due 2021. The notes were priced at a premium of 101.000% of par. The notes are unsecured and unconditionally guaranteed by Whiting`s wholly-owned subsidiary, Whiting Oil and Gas Corporation. Whiting received approximately $399.3 million in net proceeds from the sale of the notes, after deducting the initial purchaser discount and commissions and estimated offering expenses payable by Whiting and excluding accrued and unpaid interest. Whiting expects to use the net proceeds from the sale of the notes for general corporate purposes, including capital expenditures. 

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