Kodiak Oil & Gas has entered a definitive purchase and sale agreement with a private oil and gas firm to acquire additional producing properties and an undeveloped leasehold in the Williston Basin in North Dakota, US, for $235m in cash.
On completion of the transaction, Kodiak will acquire a 54km² area, which has an estimated net oil and gas production capacity of 3,000 barrels of oil equivalent per day.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The assets include a working interest in six gross operated producing wells, along with three gross wells that have been drilled and are waiting completion.
With this transaction, Kodiak will expand its acreage position in the Williston Basin to 445km² and will assume operatorship of 15 drilling units on the contiguous leasehold.
