DENVER, Nov. 20 /PRNewswire-FirstCall/ -- Whiting Petroleum Corporation announced today that it and Whiting USA Trust I have filed a registration statement with the Securities and Exchange Commission relating to a proposed initial public offering of units of beneficial interest in Whiting USA Trust I. Whiting Petroleum Corporation has formed Whiting USA Trust I and plans to contribute a term net profits interest in certain of its oil and natural gas properties in exchange for trust units. Whiting Petroleum Corporation intends to use the net proceeds from this offering to repay a portion of the debt outstanding under its credit agreement.
Raymond James & Associates, Inc. will act as book-running manager for the offering. The offering is being made only by means of a prospectus, a copy of which may be obtained, when available, from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716. An electronic copy of the prospectus is available from the Securities and Exchange Commission's Web site at http://www.sec.gov/.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor offers to buy be accepted prior to the time the registration statement becomes effective. This press release is not an offer to sell these securities and is not soliciting an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Whiting Petroleum Corporation
Whiting Petroleum Corporation, a Delaware corporation, is an independent oil and gas company that acquires, exploits, develops and explores for crude oil, natural gas and natural gas liquids primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast and Michigan regions of the United States. The Company trades publicly under the symbol WLL on the New York
