logo
Share SHARE
FONT-SIZE Plus   Neg

Whiting Petroleum Prices IPO Of 16 Mln Units In Whiting USA Trust II

Whiting Petroleum Corp. (WLL: Quote) announced that it priced the initial public offering of 16 million units of beneficial interest in Whiting USA Trust II at $20.00 per trust unit to the public. The trust units will trade on the NYSE under the symbol WHZ. The company expects to close the initial public offering on March 28, 2012.

Whiting Petroleum Corporation has granted to the underwriters an option to purchase up to 2.4 million additional trust units at the same price per trust unit to cover any over-allotments. Assuming no exercise of the over-allotment option, Whiting Petroleum Corporation expects to receive net proceeds from this offering of about $296.8 million. Whiting Petroleum Corporation intends to use the net proceeds from this offering to repay a portion of the debt outstanding under its credit agreement.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
'Booth babes' will not be seen at the RSA Conference scheduled to be held next month, as the exhibitors have added a new clause to its rules that ban revealing clothes. Although, RSA did not use the term "booth babe," its contract clearly explains that staff deployed at booths should wear business... Election fever has gripped the UK as Prime Minister David Cameron on Monday urged his people to prudently choose either a prosperous future under his Conservative Party or economic ruin under the Labour Party headed by Ed Miliband. Fast food giant McDonald's Corp. (MCD), reportedly plans to serve its breakfast menu for the whole day. According to a CNBC report citing analysts from Janney Capital Markets, McDonald's is planning to test serve breakfast for the whole day at select locations starting in the next few months. "Our...
comments powered by Disqus
RELATED NEWS
Trade WLL now with 
Follow RTT