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Stock Market & Financial Investment News

News Breaks
February 20, 2013
16:47 EDTKOGKodiak Oil & Gas reports 138% increase in FY12 estimated proved reserves
Kodiak's estimated total proved reserves at December 31, 2012 were approximately 94.8M barrels of oil equivalent, as compared to 39.8 MMBoe at December 31, 2011. The 2012 total represents a 138% increase from 2011's estimated proved reserves on an equivalent basis, and is comprised of 80.9 million barrels of crude oil and 83.1 billion cubic feet of natural gas. The 2012 reserve mix is 85% crude oil, along with 15% associated natural gas. Approximately 46% of the 2012 total proved reserves are categorized as proved developed producing and approximately 54% are classified as proved undeveloped. Substantially all of the company's estimated proved reserves are located in the Williston Basin.
News For KOG From The Last 14 Days
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December 8, 2014
07:03 EDTKOGWhiting Petroleum completes acquisition of Kodiak Oil & Gas
Whiting Petroleum Corporation (WLL) announced that it has completed its previously announced acquisition of Kodiak Oil & Gas Corp (KOG). The closing of the transaction follows the issuance of a final order by the Supreme Court of British Columbia approving the Arrangement on December 5, 2014. The all-stock transaction was previously approved by Whiting stockholders and Kodiak securityholders at special meetings held on December 3, 2014. The transaction enhances Whiting’s leading oil-weighted platform and is expected to drive production, reserve growth and operational efficiencies. Based on the closing price of Whiting stock on December 5, 2014, the combined company has a market capitalization of approximately $6.2B. As a result of the completion of the merger, the common stock of Kodiak Oil & Gas Corp. is no longer listed for trading on the New York Stock Exchange. Pursuant to the terms of the Arrangement, each share of common stock of Kodiak Oil & Gas Corp. will be exchanged for 0.177 of a share of Whiting common stock.

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