Whiting Petroleum Corp. (NYSE: WLL) has begun an offer to exchange all of its outstanding, unregistered 6.25% senior notes due 2023 for new, registered 6.25% senior notes due 2023.
The terms of the new notes to be issued in the exchange offer are substantially identical to those of the original notes, except that the new notes will not have securities law transfer restrictions, and the registration rights relating to the original notes and the new notes will not provide for the payment of additional interest under circumstances relating to the timing of the exchange offer.
The exchange offer will expire at 5 p.m. New York City time, on July 1, unless extended by Whiting Petroleum Corp. Valid tenders of the original notes must be made, and may be withdrawn at any time, before the exchange offer expires.
The Bank of New York Mellon Trust Company NA is acting as the exchange agent for this offer.