Here's the Deal
 

Baird's Investment Banking Group is pleased to announce the following transaction:

March 2012


Whiting USA Trust II
Initial Public Offering
$368.0 Million


Baird served as a senior co-manager in this offering


Whiting USA Trust II (NYSE: WHZ) (the “Trust”) recently completed an initial public offering of 18,400,000 trust units at a price of $20.00 per unit, generating gross proceeds of $368.0 million. The Trust’s sponsor, Whiting Petroleum Corporation (NYSE: WLL) (“Whiting”), will receive all proceeds from this offering and intends to use the net proceeds from this offering to repay a portion of the debt outstanding under its credit agreement.

The Trust was formed in December 2011 by Whiting to own a term net profits interest in certain long-lived, predominantly producing properties located primarily in the Rocky Mountains, Permian Basin, Gulf Coast and Mid-Continent regions of the United States. The net profits interest will entitle the Trust to receive 90% of the net proceeds from Whiting’s interests in the underlying properties.

Whiting Petroleum Corporation is an independent oil and gas company that explores for, develops, acquires and produces crude oil, natural gas and natural gas liquids primarily in the Rocky Mountains, Permian Basin, Mid-Continent, Michigan and Gulf Coast regions of the United States.

For additional information about this transaction, please contact:
Managing Director
(314) 445-6532
Managing Director
(314) 445-6540
Director
(314) 445-6536

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