Kodiak Oil & Gas Acquires Additional 50,000 Net Bakken Acres In North Dakota For $638m to Expand its Position in the Williston Basin - Deal Analysis From GlobalData

GlobalData
January 16, 2012
7 Pages - SKU: GBDT6771815
Kodiak Oil & Gas Acquires Additional 50,000 Net Bakken Acres In North Dakota For $638m to Expand its Position in the Williston Basin - Deal Analysis From GlobalData

Summary

Kodiak Oil & Gas Corp., (Kodiak) entered into an agreement to acquire an additional 50,000 net leasehold Bakken acres in Williams and McKenzie Counties, North Dakota, from a private oil and gas company, for a purchase consideration of $638.4m. As a part of the consideration, Kodiak will pay $588.4m in cash and will issue common 5,055,612 shares worth of $50m to the private company and its financials partners. Kodiak will finance the acquisition cost through offering of common stock and senior notes due in 2019. On the same day, the company announced the acquisition of $650m in bridge loan commitments by affiliates of Credit Suisse Securities (USA) LLC, KeyBanc Capital Markets, Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC.

Scope
  • Rationale behind Kodiak Oil & Gas's acquiring acres in Williams and McKenzie Counties, North Dakota
  • Stratigic benefits for the companies involved in the transaction
  • Geography covered - the US
Reasons to buy
  • Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in the unconventional oil and gas industry in the US
  • Identify the most lucrative shale plays to leverage on the growth oppurtunities available in the US unconventional oil & gas market



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