Debt | Capital Markets
Whiting Finalizes Williston-Focused $1.9 Note Offering
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Whiting Petroleum Corporation has 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…
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