HOUSTON (AP) — Endeavour International Corp. on Wednesday priced its private offering of an additional $54 million of its 12 percent first priority notes due 2018.

The Houston oil and gas company said the notes were priced at 109 percent of par, at a yield worst of 9.436 percent. The offering is expected to close on Monday, subject to the satisfaction of customary closing conditions.

Endeavour said it plans to use the net proceeds from the offering to retire its outstanding 12 percent senior subordinated notes due 2014 and to finance part of the construction, improvement and other costs related to its U.S. and United Kingdom oil and natural gas properties.

Endeavor shares fell 53 cents, or 5.7 percent, to $8.83 in afternoon trading. Its shares are still up 54 percent from their 52-week low $5.73 in late May.