Whiting Petroleum to redeem $250 million 7% notes due 2014 on Oct. 31

By Tali David

Minneapolis, Sept. 23 - Whiting Petroleum Corp. plans to redeem its $250 million of 7% senior subordinated notes due 2014, according to a press release.

The notes will be redeemed at par plus a make-whole premium and accrued interest on Oct. 31. The company expects to make a cash payment of $4.1 million related to the make-whole premium, the release noted.

The redemption will be financed with the proceeds from Whiting Petroleum's offering of $1.9 billion of senior notes that closed on Sept. 12.

The independent oil and gas company is based in Denver.

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