DENVER–(BUSINESS WIRE)–Whiting Petroleum Corporation (NYSE: WLL) today announced that it has priced $1.0 billion aggregate principal amount of 6.625% senior notes due 2026 in a private unregistered offering to eligible purchasers. The notes were priced at par. The offering is expected to close on December 27, 2017, subject to customary conditions.
Whiting expects to use the net proceeds from the offering to redeem all of its 5.000% senior notes due 2019 (the “2019 Notes”) and pay related fees and expenses, including the redemption premium and accrued interest on the 2019 Notes.
This offering is being made only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and to non-U.S. persons in compliance with Regulation S under the Securities Act. The notes have not been registered under the Securities Act and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.