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Whiting Petroleum closes $1B senior note offering

Whiting Petroleum Corp. completed its private unregistered offering of $1.0 billion of 6.625% senior notes due 2026, garnering about $987.5 million in net proceeds from the sale.

The proceeds will be used to redeem all of Whiting's 5.000% senior notes due 2019 and pay related fees and expenses, including the redemption premium and accrued interest on the 2019 notes, according to a Dec. 27 news release.

Whiting also notified the trustee of the indenture governing the 2019 notes to redeem them Jan. 26, 2018.