Whiting Petroleum Reports Offering of $1.8B in Senior Notes Due 2019, 2021

Whiting Petroleum Corporation

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.