Whiting, Kodiak Merger To Create Top Bakken Producer

摘要

In a deal that would alter the Williston Basin’s pecking order, Whiting Petroleum Corp. (NYSE: WLL) announced July 13 it will acquire Kodiak Oil & Gas Corp. (NYSE: KOG) in an all-stock transaction valued at $6 billion. The amount is based on the closing price of Whiting stock July 11 and Kodiak’s net debt of $2.2 billion as of March 31. Kodiak’s market capitalization was $3.79 billion on July 7. The Denver-based companies would become the largest Bakken/Three Forks producer with more than 107,000 barrels of oil equivalent per day (boe/d) in the first quarter of 2014 as well as 855,000 combined net acres and an inventory of 3,460 net future drilling locations.