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
13 Books You Need to Read Before They Hit the Big Screen
Uhoh! Microsoft Co-Founder's Yacht Destroys Protected Coral Reef
The Art, Collectibles and Design at London and Los Angeles Art Fairs
The Most Expensive Presidential Memorabilia to Ever Sell at Auction
New Modern Classic Gran Torino Can Perform a Disappearing Act
Portrait of Potato Sells for $1 Million
$40k Abyss Dining Table Artfully Mimics the Depths of the Ocean
Ellie Kemper is Endearingly Dorky in New Buick Ad
Jetset from NYC to London in 11 Minutes
One of Two Remaining James Bond Aston Martin DB10's Go to Auction
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE