Whiting Petroleum Launches $1.8 Bln Senior Notes Offering

(RTTNews) - Whiting Petroleum Corp. (WLL) said Monday that it has commenced a public offering of $1.8 billion aggregate principal amount of senior notes due 2019 and senior notes due 2021.

The company aid it expects to use the net proceeds from the offering to repay all of the debt outstanding under Whiting Oil and Gas Corp.'s credit agreement, to fund its $260.0 million acquisition of Williston Basin assets, to retire its $250.0 million of outstanding 7.0% Senior Subordinated Notes due 2014 on or prior to their maturity on February 1, 2014 and for general corporate purposes including capital expenditures.

Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and BofA Merrill Lynch are the joint book-running managers for the offering.