Whiting Petroleum to repay some bank debt with units offering proceeds

By Sara Rosenberg

New York, April 14 - Whiting Petroleum Corp. plans to repay a portion of its outstanding credit facility debt using proceeds from a proposed public offering of 10.85 million units of beneficial interest in Whiting USA Trust I, according to a news release.

The public offering price is expected to price between $19 and $21 per trust unit.

Whiting Petroleum is a Denver-based oil and gas company.

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