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KOG Bucking Up in the Bakken



December 01, 2011 – Comments (0) | RELATED TICKERS: KOG.DL , BNO , USO

Kodiak Oil and Gas is working hard to step up their game in the shale arena. They recent acquired a nice chunk of land in the Bakken. They are developing quite a presence in the shale world, and now much more in the Bakken. Amitabha Chakraborty explains the recent acquisition and its impact on KOG.


"Digging deep
Kodiak is buying new acreages in the Williston Basin in North Dakota from a private oil and gas company for $590 million in cash and stock. The deal, which is expected to close by January 2012, will increase Kodiak’s total acreage in the Bakken shale by 50,000 acres to 155,000 acres, with 800 net potential locations for future development. Most of the assets to be acquired are adjacent to the acreages Kodiak bought in October 2011 and near its Koala Project, which is an added advantage since the company is familiar with the operational environment."


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