Text Size:
A | A

Whiting Petroleum Buys Kodiak Oil & Gas For $3.8 Billion

Text Size: A | A
July 14, 2014

Whiting Petroleum Corp.’s (NYSE: WLL) $3.8 billion purchase of Kodiak Oil & Gas Corp. (NYSE: KOG) will create the dominant crude oil producer in the richest U.S. shale region as energy explorers seek access to future drilling opportunities, Bloomberg said July 14.

Kodiak stockholders will receive 0.177 of a Whiting share for each Kodiak share they own, which is the equivalent of $13.90 based on the acquirer’s July 11 price, the Denver-based companies said in a statement July 13. Including $2.2 billion in debt, the total transaction is valued at ...

Already a subscriber? Log In
Does your company have a site license? Inquire here
Already a print subscriber? Upgrade your magazine subscription