fwp
Filed Pursuant to Rule 433
Registration No. 333-159055
September 21, 2010
Pricing term sheet dated September 21, 2010
to Preliminary Prospectus Supplement dated September 20, 2010
(the “Preliminary Prospectus Supplement”)
Whiting Petroleum Corporation
$350,000,000 Aggregate Principal Amount of
6 1/2% Senior Subordinated Notes due 2018
The following information supplements the Preliminary Prospectus Supplement for the offering of 2018 Notes dated September 20, 2010, filed pursuant to Rule 424(b) under the Securities Act, Registration Statement No. 333-159055.
     
Issuer:
   Whiting Petroleum Corporation, a Delaware corporation (“WLL”)
 
    
Guarantor:
   Whiting Oil and Gas Corporation, a Delaware corporation
 
    
Title of Securities:
   6 1/2% Senior Subordinated Notes due 2018 (the “2018 Notes”)
 
    
Distribution:
   SEC Registered
 
    
Principal Amount:
   $350,000,000
 
    
Price to Public:
   100.000%
 
    
Interest Rate:
   6.500%
 
    
Interest Payment Dates:
   April 1 and October 1, commencing April 1, 2011
 
    
Date of Maturity:
   October 1, 2018
 
    
Yield to Maturity:
   6.500%
 
    
Spread to Benchmark Treasury:
   + 425 bps
 
    
Benchmark Treasury:
   UST 4.000% due August 15, 2018
 
    
Benchmark Yield:
   2.250%
 
    
Equity Clawback:
   Up to 35% at 106.500%, until October 1, 2013
 
    
Optional Redemption:
   Make-whole call @ Treasury + 50 bps prior to October 1,
 
   2014, then:
             
 
  On or after:     Price:
 
  October 1, 2014     103.250 %
 
  October 1, 2015     101.625 %
 
  October 1, 2016 and thereafter     100.0000 %
     
Change of Control:
  Put @ 101% of principal plus accrued interest

 

 

     
CUSIP:
  966387 AF9
 
    
ISIN:
  US966387AF99
 
    
Trade Date:
  September 21, 2010
 
    
Settlement Date:
  September 24, 2010 (T + 3)
 
    
Joint Book-Running Managers:
  Banc of America Securities LLC
J.P. Morgan Securities LLC
Wells Fargo Securities, LLC
 
    
Co-Managers:
  Raymond James & Associates, Inc.
 
  BBVA Securities Inc.
 
  Credit Agricole Securities (USA) Inc.
 
  Barclays Capital Inc.
 
  KeyBanc Capital Markets Inc.
 
  Mitsubishi UFJ Securities (USA), Inc.
 
  U.S. Bancorp Investments, Inc.
 
  Scotia Capital (USA) Inc.
 
  SunTrust Robinson Humphrey, Inc.
 
  Morgan Stanley & Co. Incorporated
 
  RBC Capital Markets Corporation
 
  Comerica Securities, Inc.
 
  BNP Paribas Securities Corp.
 
  BOSC, Inc.
 
  Lloyds TSB Bank plc
     
 
This communication is intended for the sole use of the person to whom it is provided by the sender.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of these securities in any jurisdiction in which such solicitation or sale would be unlawful prior to registration or qualification of these securities under the laws of any such jurisdiction.
The information in this term sheet supplements the Preliminary Prospectus Supplement and supersedes the information in the Preliminary Prospectus Supplement to the extent inconsistent with the information in the Preliminary Prospectus Supplement. This term sheet is qualified in its entirety by reference to the Preliminary Prospectus Supplement. Terms used herein but not defined herein shall have the respective meanings as set forth in the Preliminary Prospectus Supplement.
The issuer has filed a registration statement including a prospectus and a prospectus supplement with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and prospectus supplement in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may obtain these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the prospectus supplement if you request them by calling BofA Merrill Lynch at 800-294-1322 or email: dg.prospectus_requests@baml.com
     ANY DISCLAIMER OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.