Kodiak Oil Buys ND Oil, Gas Properties For $235M

Law360, New York (September 28, 2011, 1:53 PM EDT) -- Kodiak Oil & Gas Corp. agreed Wednesday to shell out $235 million for the rights to oil and gas producing wells and land ripe for new production in the Williston Basin of North Dakota.

Kodiak, an oil and gas exploration and production company, will get 13,500 acres of property in the deal to expand its holdings in the area to 110,000 acres. The company is one of many seeking to open new wells in the region, particularly in a rock formation known as the Bakken.

“We continue to execute on our...
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