UBS Upgrades Whiting Petroleum (WLL) to Buy
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Whiting Petroleum (WLL) to Acquire Kodiak Oil & Gas (KOG) in $6B All-Stock Deal
July 13, 2014 6:27 PM EDTWhiting Petroleum Corporation (NYSE: WLL) and Kodiak Oil & Gas Corp. (NYSE: KOG) announced a definitive agreement pursuant to which Whiting will acquire Kodiak in an all-stock transaction valued at $6.0 billion, based on the closing price of Whiting on July 11, 2014, and including Kodiaks net debt of $2.2 billion as of March 31, 2014.
The transaction will create the largest Bakken/Three Forks producer with over 107,000 barrels of oil equivalent per day of production in the first quarter of 2014, 855,000 combined net acres and an inventory of 3,460 net future drilling locations. The combined companys leading... More
