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Kodiak Oil & Gas Corp (KOG) - Bakken Shale - Oil
I came across some more big news afterhours tonight out of a small oil company, Kodiak Oil & Gas Corp (KOG). For those who don't know, North Dakota is sitting on a large oil patch called the Bakken Shale. Kodiak Oil & Gas just bought a bunch more acreage and this could lift the stock over the next 3-6 months. This is the type of news thats sends a stock from $4 to $8 in 6-12 months so stick it on your watchlists.
http://www.oilshalegas.com/bakkenshale.html
http://www.bakkenshale.net/threeforkssanish.html
Kodiak Oil & Gas Corp. Agrees to Acquire Producing Properties and Undeveloped Leasehold; Transaction Expected to Significantly Expand Core Williston Basin Presence
Transaction Highlights Include:
-- Large and Contiguous 23,133 Gross/ 14,494 Net Acre Positions
-- ~60 Net Bakken / Three Forks Drilling Locations
-- High-Working-Interest, Operated Properties
-- ~500 Net BOE Per Day
Kodiak Oil & Gas Corp. (NYSE Amex: KOG), an oil and gas exploration and production company with assets in the Williston Basin of North Dakota and Montana and in the Green River Basin of southwest Wyoming, today announced that it has entered into a definitive purchase and sale agreement with a private oil and gas company to acquire high-working-interest, contiguous Bakken/Three Forks Williston Basin leasehold and producing properties. Total consideration for the transaction includes $99 million in cash and the direct issuance of 2.75 million shares of common stock to the seller at a price of $4.00 per share. Kodiak expects to fund the cash portion of the transaction through available cash balances and through borrowings under credit facilities which would include an expanded reserve-based, revolving line of credit and a second-lien term loan
http://kodiakog.investorroom.com/index.php?s=43&item=125
Tags: bakken, gas, kodiak, kog, oil, shale, stock, stocks
Views: 7052
Replies to This Discussion
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Permalink Reply by Stocks To Buy on -
Yea I can't believe KOG dropped below $4 in October and now It's in the $9's.....oh well, if we ever get another crash where they dump every stock out there, KOG is the one to buy. It's happened multiple times over the past three years.
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Permalink Reply by Jai Singh on -
Yes, I am hoping for the same. I got out at $6.4 and never bought again thinking it was too high in the 7s :( But they all crash. I am sure we will get our chance.
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Permalink Reply by keith on
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so kog hit 9.87, looks like it'll hit 10 sooner than later. what's next? will it keep going up like 10.50-11? or back down? it went up from 8 to 9.87 rather quickly
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Permalink Reply by JSJ on -
Mitt Romney just named Harold Hamm as energy adviser to his campaign. For those that do not know, Harold Hamm is the founder, chairman and chief executive officer of Continental Resources Inc. (CLR). "His 68 percent stake in Enid, Oklahoma-based Continental, the largest leaseholder in the Bakken oil formation, had a value of $11.2 billion as of yesterday’s close" (Bloomberg). Needless to say, he does pretty well for himself.
Hamm began exploring the Bakken almost two decades ago and now controls more than 350 wells.
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