Exploration & Production | Finance & Investing | Capital Markets
Whiting Pays Down Debt
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Whiting Petroleum Corporation has announced that it has priced $1.0 billion aggregate principal amount of 1.25% convertible senior notes due 2020 in a private unregistered offering. The initial purchasers have a 30-day option to purchase up to an additional $250.0 million aggregate principal amount of convertible senior notes. The convertible senior notes were priced at par. The offering is expected to close on March 27, 2015, subject to customary conditions.
Whiting also announced by separate press release that it has priced a public offering of 35,000,000 shares of its common stock for total net proceeds of approximately $1.0 billion, after deducting underwriter’s discounts and commissions. The underwriter in that offering has a 30-day option to purchase up to an additional 5,250,000…
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