Whiting Petroleum to redeem $798 million 8 1/8% senior notes due 2019

By Susanna Moon

Chicago, Nov. 24 – Whiting Petroleum Corp. said it will redeem all of the outstanding $798 million principal amount of 8 1/8% senior notes due 2019 of Kodiak Oil & Gas Corp., now known as Whiting Canadian Holding Co. ULC.

The notes will be redeemed at 104.063% of par plus accrued interest to the redemption date of Dec. 24.

Whiting plans to fund the redemption with debt under its $3.5 billion credit agreement, which had no borrowings as of Sept. 30, according to a company announcement.

Denver-based Whiting Petroleum is an oil and gas exploration and production company.

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