Monday, September 20, 2010

Whiting Petroleum Launches $350M Note Offer

Whiting Petroleum Corp. said Monday it has launched a public offering of $350 million in senior subordinated notes to repay other outstanding debt. The notes will be due in 2018. Banc of America Securities, J.P. Morgan Securities and Wells Fargo Securities are the joint book-running managers.

Whiting explores for oil, and natural gas in several parts of the U.S. Its largest projects are in North Dakota, Oklahoma and Texas. The shares rose $3.50, or 3.8 percent, to $96.28 in regular trading before the announcement. In extended trading, they added 3.8 percent to $96.28.

Courtesy The Associated Press


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