WHX

DENVER, April 30 /PRNewswire-FirstCall/ -- Whiting Petroleum Corporation (NYSE:WLL) announced today that it completed its initial public offering of 11,677,500 units of beneficial interest in Whiting USA Trust I (NYSE:WHX) at $20.00 per trust unit to the public. The number of trust units included the sale of 827,500 trust units pursuant to an exercise of the underwriters' over-allotment option. Whiting Petroleum Corporation sold all of the trust units in the initial public offering and received net proceeds of approximately $215.4 million. Whiting Petroleum Corporation used the net proceeds from the offering to repay a portion of the debt outstanding under its credit agreement. After completion of the offering, Whiting Petroleum Corporation owns 2,186,389 trust units out of 13,863,889 total outstanding trust units. 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 Stock Exchange. For further information, please visit http://www.whiting.com/. DATASOURCE: Whiting Petroleum Corporation CONTACT: John B. Kelso, Director of Investor Relations of Whiting Petroleum Corporation, +1-303-837-1661, Web site: http://www.whiting.com/

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