July 13 Whiting Petroleum Corp on Sunday
said it would acquire Kodiak Oil & Gas Corp in an
all-stock deal valued at $6 billion, and thereby become the
largest producer in the Bakken/Three Forks oil formations.
Whiting said the deal, which includes assumption of Kodiak's
net debt of $2.2 billion, was unanimously approved by the boards
of both companies and is expected to close in the fourth
The companies' combined output from the Bakken/Three Forks
formations in the first quarter of 2014 was over 107,000 barrels
of oil equivalent per day, with 855,000 combined net acres and
almost 3,500 net future drilling locations.
The formations, located within the Williston Basin in North
Dakota and Montana, are among the largest oil plays in the
(Reporting by Ransdell Pierson; Editing by Sandra Maler)