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Whiting acquires Kodiak in an all-share deal worth US$6 billion

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16 July 2014

Whiting acquires Kodiak in an all-share deal worth US$6 billion

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
    • Modelling assumptions
    • Precedent transactions
    • Operational efficiency
    • Downspacing
    • Oil and gas marketing
    • Whiting Petroleum
    • Kodiak Oil & Gas
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 11 images and tables including:

  • 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:

  • Document

    Whiting acquires Kodiak in an all-share deal worth US$6 billion

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