Whiting Petroleum Corporation WLL announced today that it has
commenced a public offering of $1.8 billion aggregate principal amount of
senior notes due 2019 and senior notes due 2021, subject to market and other
conditions. Whiting expects to use the net proceeds from this offering to
repay all of the debt outstanding under Whiting Oil and Gas Corporation'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.
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