Whiting Petroleum to start roadshow Tuesday for $250 million 8.5-year notes

By Paul A. Harris

St. Louis, Sept. 19 - Whiting Petroleum Corp. will begin a roadshow Tuesday for its $250 million offering of 8.5-year senior subordinated notes (confirmed B2/expected B-), according to a syndicate source.

Merrill Lynch, JP Morgan and Lehman Brothers are joint bookrunners for the Rule 144A/Regulation S offering. Banc of America Securities LLC, KeyBanc, Raymond James, RBC Capital Markets, Wachovia Securities, Simmons & Co. and Petrie Parker are co-managers.

The notes come with four years of call protection.

Proceeds will be used to pay the cash portion of the North Ward Estes properties acquisition and to repay a portion of Whiting Oil and Gas Corp.'s credit facility incurred in the Postle properties acquisition.

Whiting Petroleum is a Denver-based energy company engaged in oil and natural gas acquisition, exploitation, exploration and production primarily in the Rocky Mountains, Permian Basin, Gulf Coast, Michigan and Mid-Continent regions of the United States.

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