Whiting Petroleum to repay credit agreement via note, stock offering

By Tali Rackner

Norfolk, Va., March 23 – Whiting Petroleum Corp. plans to repay all or a portion of the amount outstanding under its credit agreement with the proceeds from a $1 billion convertible senior note offering an a public offering of 35,000,000 shares of its common stock, according to two press releases.

Proceeds will also be used to for general corporate purposes.

Whiting is an oil and gas company based in Denver.

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