Home Wealth  Money Kodiak Trades Higher on Offering Increases

Kodiak Trades Higher on Offering Increases

Posted: Nov. 19th, 2011  |  By Forbes

powered by Forbes

RSS Syndicated News Email a Friend Suggest an Article Share Visit Website

Kodiak Oil & Gas said today it has upsized and priced a previously announced public offering of common stock as well as a private offering of senior notes.

The stock offering has been increased from 37.5 million shares to 42 million shares, at $7.75 per share.

The private placement of senior notes due 2019 has been increase from $550 million to $650 million in aggregate principal amount.

Kodiak plans to use the net proceeds to finance its previously announced acquisition of interests in 50,000 net acres of oil and gas properties and related assets in the Williston Basin of North Dakota, to repay all outstanding debt under its second lien credit agreement, to fund capital expenditures for development in the Bakken play, as well as for general corporate purposes, including financing the potential acquisition of oil and gas properties.

The company announced acquisitions in the Bakken area and the Williston basin earlier in the week. Kodiak competes with big names with drilling and exploration activities, like Marathon Oil (nyse: MRO - news - people ) , as well as smaller players like Double Eagle Petroleum (nasdaq: DBLEP - news - people ) .

Market News Video produces and distributes online videos about stocks and investing.




Share on Facebook Share
See Next Article
Need to Get Away?
Top 10 Business Hotels
Who says you canít mix business with pleasure?
Read More
More Articles from Forbes.com

advertisement
Quick Links
Autos
Boating
Real Estate
Luxury Travel
Fashion
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
advertisement
Current News & Features
NetJets Slashes China-Based Membership Costs More Than Fifty Percent
MINI Reveals Augmented Reality Eyewear with X-Ray Tech
Miami Beach's Boutique Louver House is Almost Half Sold Out Already
Chef Sylvain Desbois Shares Hearty Duck Confit Recipe From St. Regis Mexico City
Meet Scandinavian-Designed Vifa, Our New Favorite Source for Wireless Tunes
Five S. Pellegrino Young Chef Judges On How to Break Into the Industry in Round Table Video
Property Envy Host Lists $1.5 Million Mid-Century Palm Springs Desert Oasis
Sky High $11.7M Miami Beach Penthouse Offers a Pneumatic Elevator and Posh Designer Fixtures
Headed to the Masters Golf Tournament? Here's Why You Should Fly Private
Will the 2005 Mouton Rothschild Outshine the Renowned 2000 Vintage? (and Should You Invest?)
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE