Key Developments: Whiting Petroleum Corp (WLL)

WLL on New York Consolidated

34.50USD
5 Mar 2015
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Latest Key Developments (Source: Significant Developments)

Whiting Petroleum Corp Closes Sale Of Portion Of Its Big Tex Assets in Delaware Basin
Thursday, 31 Oct 2013 05:38pm EDT 

Whiting Petroleum Corporation announced that it has closed the previously announced sale to a private buyer of 32,182 net acres and approximately 200 net BOE per day in the Company's Big Tex prospect area in the Delaware Basin for total consideration of $150.1 million, subject to normal adjustments. Of the total net acres, 30,821 net acres are located in Pecos County, Texas and 1,361 net acres are located in Reeves County, Texas.  Full Article

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.  Full Article

Whiting Petroleum Corp Announces Pricing Of $400 Million Of Senior Notes Due 2021
Monday, 23 Sep 2013 04:00pm EDT 

Whiting Petroleum Corp announced that it has priced $400 million aggregate principal amount of 5.750% senior notes due 2021 in a private placement to eligible purchasers. The notes were priced at a premium of 101.000% of par. The notes will be unsecured and unconditionally guaranteed by Whiting`s wholly-owned subsidiary, Whiting Oil and Gas Corporation. The private placement is expected to close on September 26, 2013. Whiting expects to use the net proceeds from the sale of the notes for general corporate purposes including capital expenditures.  Full Article

Whiting Petroleum Corp To Offer $400 Million Aggregate Principal Amount Of Senior Notes Due 2021 In A Private Placement
Monday, 23 Sep 2013 08:15am EDT 

Whiting Petroleum Corp announced that it intends to sell $400 million aggregate principal amount of 5.750% senior notes due 2021 in a private placement to eligible purchasers. The notes will be unsecured and unconditionally guaranteed by Whiting`s wholly-owned subsidiary, Whiting Oil and Gas Corporation. Whiting expects to use the net proceeds from the sale of the notes for general corporate purposes including capital expenditures.  Full Article

Whiting Petroleum Corp Announces Completion of Offering of $1.9 Billion of Senior Notes Due 2019 and 2021
Thursday, 12 Sep 2013 04:01pm EDT 

Whiting Petroleum Corp announced that it completed a public offering of $1.9 billion aggregate principal amount of senior notes consisting of the following: $1.1 billion of senior notes that mature on March 15, 2019 and bear interest at an annual rate of 5.000%, and $800.0 million of senior notes that mature on March 15, 2021 and bear interest at an annual rate of 5.750%. Whiting received net proceeds of approximately $1.8775 billion from the offering, after deducting the underwriting discount and commissions and estimated expenses of the offering. Whiting expects to use the net proceeds from this offering to repay all of the debt outstanding under Whiting Oil and Gas Corporation`s credit agreement, to fund its $260.0 million acquisition of Williston Basin assets, to retire its $250.0 million of outstanding 7.0% Senior Subordinated Notes due 2014 on or prior to their maturity on February 1, 2014 and for general corporate purposes including capital expenditures. Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and BofA Merrill Lynch acted as the joint book-running managers for the offering.  Full Article

Whiting Petroleum Corp Announces Pricing of Senior Notes Due 2019 and 2021
Monday, 9 Sep 2013 06:13pm EDT 

Whiting Petroleum Corp announced that it has priced a public offering of $1.9 billion aggregate principal amount of senior notes consisting of the following: $1.1 billion of senior notes that mature on March 15, 2019 and bear interest at an annual rate of 5.000%, and * $800.0 million of senior notes that mature on March 15, 2021 and bear interest at an annual rate of 5.750%. Whiting expects to use the net proceeds from this offering to repay all of the debt outstanding under Whiting Oil and Gas Corporation`s credit agreement, to fund its $260.0 million acquisition of Williston Basin assets, to retire its $250.0 million of outstanding 7.0% Senior Subordinated Notes due 2014 on or prior to their maturity on February 1, 2014 and for general corporate purposes including capital expenditures. Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and BofA Merrill Lynch are the joint book-running managers for the offering.  Full Article

Whiting Petroleum Corp Announces Public Offering Of $1.8 Billion Of Senior Notes Due 2019 And 2021
Monday, 9 Sep 2013 08:14am EDT 

Whiting Petroleum Corp announced that it has commenced a public offering of $1.8 billion aggregate principal amount of senior notes due 2019 and senior notes due 2021, subject to market and other conditions. Whiting expects to use the net proceeds from this offering to repay all of the debt outstanding under Whiting Oil and Gas Corporation`s credit agreement, to fund its $260.0 million acquisition of Williston Basin assets, to retire its $250.0 million of outstanding 7.0% Senior Subordinated Notes due 2014 on or prior to their maturity on February 1, 2014 and for general corporate purposes including capital expenditures. Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and BofA Merrill Lynch are the joint book-running managers for the offering.  Full Article

Whiting Petroleum Corp Announces Agreement to Acquire Properties in the Williston Basin for $260 Million
Tuesday, 27 Aug 2013 09:08am EDT 

Whiting Petroleum Corp announced that it has signed a purchase and sale agreement with a private party to acquire certain producing oil and gas wells and development acreage in the Williston Basin in Williams and McKenzie counties of North Dakota and Roosevelt and Richland counties of Montana. The purchase price is $260 million, subject to customary adjustments, and the acquisition has an effective date of August 1, 2013. Whiting expects the acquisition to close by September 30, 2013, subject to customary conditions to closing. Whiting plans to finance the acquisition with borrowings under its existing bank credit facility.  Full Article

Whiting Petroleum Corp Issues Q3 2013 Production Guidance-Conference Call
Thursday, 25 Jul 2013 11:00am EDT 

Whiting Petroleum Corp announced that for the third quarter of 2013, it expects production forecast of $8.5 million BOE's.  Full Article

Breitburn Energy Partners LP Completes Acquisition Of Oklahoma Panhandle Assets From Whiting Petroleum Corp's Whiting Oil and Gas Corporation
Monday, 15 Jul 2013 04:10pm EDT 

Breitburn Energy Partners LP announced that it has completed the acquisition of oil properties and associated midstream assets in the Oklahoma Panhandle from Whiting Oil and Gas Corporation, a wholly-owned subsidiary of Whiting Petroleum Corporation, for a preliminary adjusted purchase price of approximately $846 million, including the approximately $86 million deposit previously paid. The preliminary purchase price adjustments are interim adjustments; the final adjusted purchase price will be determined post-closing, subject to customary post-closing adjustments. The purchase was made pursuant to a definitive agreement previously announced on June 24, 2013. The Partnership also completed the previously announced acquisitions of additional interests in certain of the acquired assets from other sellers for an additional $30 million.  Full Article

REFILE-Whiting shares tumble on plans to keep fracking despite cheap oil

WILLISTON, N.D., Feb 26 - North Dakota's largest oil producer, Whiting Petroleum Corp, struck a confident tone for 2015 on Thursday, saying it will hydraulically fracture all wells it drills even as peers scale back, but its bold tactic prompted a sharp drop in its share price.

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