Foley, Stikeman Rep Whiting Petroleum In $3.8B Kodiak Deal
Law360, New York (July 13, 2014, 7:31 PM EDT) -- Denver-based Whiting Petroleum Corp. said Sunday it will acquire Kodiak Oil & Gas Corp. in an all-stock deal valued at $3.8 billion plus the assumption of debt to create the largest oil player in the Bakken region of North Dakota and Montana.
The combined company would have produced over 107,000 barrels of oil equivalent daily from the Bakken and Three Forks formations during the first quarter, topping current leader Continental Resources Inc., on 855,000 net acres. The merger would boost the combined company's credit profile with its greater scale, the companies said Sunday.
"The addition of Kodiak's complementary acreage position and...
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