Whiting Petroleum Corp. (NYSE: WLL) has reported on the results of its offer to exchange all of its outstanding, unregistered 5.750% senior notes due 2021 (CUSIP Nos. 966387AJ1 and U9650FAC1) issued September 26, 2013, for new, registered 5.750% senior notes due 2021 (CUSIP No. 966387AH5), which are an additional issuance of and will be fully fungible and form a single series voting together as one class with the $800 million aggregate principal amount of its 5.750% senior notes due 2021 issued on September 12, 2013.
Whiting has been advised by The Bank of New York Mellon Trust Company NA, the exchange agent for the exchange offer, that, as of 5 p.m., New York City time, December 13, 2013, holders of 100% of the $400 million aggregate principal amount of original notes had validly tendered pursuant to the terms of the exchange offer. The settlement date for the exchange offer is expected to occur on December 16, 2013.
Under the terms of the exchange offer, eligible holders of the original notes who had validly tendered at or before the expiration date will receive, for each $1,000 principal amount of the original notes tendered, $1,000 principal amount of the new notes, provided that such original notes tendered in the exchange offer were in minimum denominations of $2,000 principal amount and any integral multiples of $1,000 in excess thereof.