Deal Insight
Whiting acquires Kodiak in an all-share deal worth US$6 billion
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Whiting Petroleum is to acquire pure-play Bakken operator Kodiak Oil and Gas in an all-equity transaction valued at US$6 billion (including US$2.2 billion net debt). This is the largest transaction in this core US unconventional oil play to date, and the largest North American deal 2014 ytd. The combination will create the largest producer in the Bakken.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
-
Deal analysis
- Modelling assumptions
- Precedent transactions
-
Upsides and risks
- Operational efficiency
- Downspacing
- Oil and gas marketing
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Strategic rationale
- Whiting Petroleum
- Kodiak Oil & Gas
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Image 1
- Upstream assets: Table 1
- IP rates by company in Williams Core Bakken and Three Forks sub-plays
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Gearing in pro forma Whiting shifts below key Bakken peers
- CAGR of new entity moves in-line with peer group
- Whiting and Kodiak Williston Basin assets
What's included
This report contains:
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