Whiting provides results of senior notes exchange offer

Whiting Petroleum Corp. (NYSE: WLL) has provided the results of its offer to exchange all of its outstanding, unregistered 6.25% senior notes due 2023 issued March 27 for new, registered 6.25% senior notes due 2023.

Whiting has been advised by The Bank of New York Mellon Trust Co. NA, the exchange agent for the exchange offer, that, as of 5 p.m., New York City time, July 1, holders of 99.9% of the $750 million aggregate principal amount of original notes (excluding original notes tendered by guaranteed delivery) had validly tendered pursuant to the terms of the exchange offer. The settlement date for the exchange offer is expected to occur on July 8.

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.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...