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
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.
Copyright Business Wire 2015
Source: Business Wire
(March 27, 2015 - 8:10 PM EDT)
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