Whiting Petroleum Corp. (NYSE: WLL) intends to sell $400 million aggregate principal amount of 5.75% senior notes due 2021 in a private placement to eligible purchasers.
The notes will be unsecured and unconditionally guaranteed by Whiting’s wholly-owned subsidiary, Whiting Oil and Gas Corp. These notes have not been registered under the Securities Act or the securities laws of any state.
Net proceeds will be used for general corporate purposes including capital expenditures.
Additionally, Whiting notified the trustee under the indenture governing its $250 million 7% senior subordinated notes due 2014 ...