Whiting Petroleum Corp said on Sunday it would acquire Kodiak Oil & Gas Corp for $3.8 billion in stock, to become the largest producer in the Bakken/Three Forks oil formations.Whiting said the deal, valued at $6 billion when Kodiak's net debt of $2.2 billion is included, is expected to close in the fourth quarter.The companies' combined output from the Bakken/Three Forks formations in the first quarter of 2014 was more than 107,000 barrels of oil equivalent per day, with 855,000 combined net acres and almost 3,500 net future drilling locations.The formations, within the Williston Basin in North Dakota and Montana, are among the largest oil plays in the United States.
Kodiak Oil & Gas Corp. (Kodiak) is an independent energy company focused on the exploration, exploitation, acquisition and production of crude oil and natural gas in the United States. Shares of KOG fell by 2.33% or $-0.34/share to $14.23. In the past year, the shares have traded as low as $8.34 and as high as $14.89. On average, 5777990 shares of KOG exchange hands on a given day and today's volume is recorded at 4358357.
Whiting Petroleum Corporation (Whiting) is an independent oil and gas company engaged in acquisition, development, exploitation, production and exploration activities primarily in the Rocky Mountains, Permian Basin, Mid-Continent, Michigan and Gulf Coast regions of the United States. Shares of WLL fell by 1.78% or $-1.42/share to $78.54. In the past year, the shares have traded as low as $48.05 and as high as $82.35. On average, 1241710 shares of WLL exchange hands on a given day and today's volume is recorded at 1049769.
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