Whiting Petroleum Corporation Announces Completion of Offering of Common Stock
March 27 2015 - 8:10PM
Business Wire
Whiting Petroleum Corporation (NYSE: WLL) today announced
that it completed its previously announced registered 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.
Whiting also announced by separate press release that it has
completed its previously announced private unregistered offering of
$1.25 billion aggregate principal amount of 1.25% convertible
senior notes due 2020. This amount includes the sale of $250
million aggregate principal amount of convertible senior notes
pursuant to the exercise of the initial purchasers’ option in full
to purchase additional convertible senior notes. Whiting also
announced that it has completed its previously announced private
unregistered offering of $750 million aggregate principal amount of
6.25% senior notes due 2023.
Whiting received approximately $3.0 billion in aggregate net
proceeds from the offerings. Whiting used the net proceeds from the
offerings to repay all of the amounts outstanding under its credit
agreement and will use the remainder for its general corporate
purposes.
About Whiting Petroleum
Corporation
Whiting Petroleum Corporation, a Delaware corporation, is an
independent oil and gas company that explores for, develops,
acquires and produces crude oil, natural gas and natural gas
liquids primarily in the Rocky Mountain and Permian Basin regions
of the United States. The Company’s largest projects are in the
Bakken and Three Forks plays in North Dakota, the Niobrara play in
northeast Colorado and its Enhanced Oil Recovery field in Texas.
The Company trades publicly under the symbol “WLL” on the New York
Stock Exchange.
Whiting Petroleum CorporationJohn B. Kelso, 303-837-1661Director
of Investor Relationsjohn.kelso@whiting.com
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