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Kodiak's Bakken deal bucks a sluggish tight oil M&A market

Kodiak's Bakken deal bucks a sluggish tight oil M&A market

Report summary

In the first substantial Bakken-focused transaction of 2013, Kodiak is to acquire 42,000 net acres from private equity backed Liberty Resources for US$660 million.Liberty's interests are focused on southern Williams and northwest McKenzie counties, North Dakota, and currently produce 5,700 boe/d. The acquisition increases Kodiak's Bakken position to approximately 196,000 net acres and 30,000 boe/d of production, making it one of the top ten operators in the play.Deal bucks wider ...

What's included?

This report includes 1 file(s)

  • Kodiak's Bakken deal bucks a sluggish tight oil M&A market PDF - 1.71 MB 7 Pages, 6 Tables, 3 Figures


The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
    • Modelling Assumptions
  • Upsides and risks
    • Bakken M&A slows as appetite and opportunities for consolidation diminish
      • Points to a wider slowdown in US tight oil M&A
  • Strategic rationale
    • Kodiak
    • Liberty Resources
  • Oil & gas pricing and assumptions

In this report there are 9 tables or charts, including:

  • Executive summary
    • Executive summary: Image 1
  • Transaction details
  • Upstream assets
    • Upstream assets: Table 1
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
  • Upsides and risks
    • US Tight Oil M&A by year, and individual deals of over US$200 million
    • Upsides and risks: Table 1
  • Strategic rationale
    • Location of Liberty Resources Bakken Three Forks acreage
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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