Kodiak Oil & Gas Corp (KOG) - NYSE
KOG is defunct.
  • Jul. 30, 2014, 5:35 PM
  • Jul. 16, 2014, 5:39 PM
    • Top gainers, as of 5:15 p.m.: RNWK +11.8%. SCSS +9.9%. RUSS +7.4%. GPRO +6.9%. TSL +5.1%.
    • Top losers, as of 5:15 p.m.: JOY -6.2%. OWW -5.2%. KPTI -5.1%. KOG -4.3%. VIP -4.2%.
    | Jul. 16, 2014, 5:39 PM | 2 Comments
  • Jul. 15, 2014, 12:45 PM
    • Whiting Petroleum (WLL -0.5%) and Kodiak Oil & Gas (KOG +0.2%) don't just share prolific Williston Basin oil fields; they also share many of the same investors - with five of WLL's top 10 shareholders also among KOG's top 10 - which should help them win shareholder approval for their proposed merger despite WLL’s $3.8B bid valuing KOG at a discount to Friday’s closing stock price, SunTrust analysts say.
    • Wells Fargo analysts add that KOG CEO Lynn Peterson has much of his net worth in wrapped up in the company, and that Peterson and his team have tried unsuccessfully for years to sell the company.
    • KOG is upgraded to Buy with a $17.70 price target at Wunderlich, believing the stock should trade in tandem with WLL, on which the firm has a $100 price target.
    | Jul. 15, 2014, 12:45 PM
  • Jul. 14, 2014, 3:45 PM
    • Shares of Whiting Petroleum (WLL +7.8%) surge to a new all-time high as analysts agree that WLL pulled off a great deal for Kodiak Oil & Gas (KOG +4.6%), paying ~2% less than KOG's Friday close and just 5% above the 60-day average (earlier).
    • WLL’s story grows even more compelling with an accretive deal that gives it a premier position in both the Bakken and Niobrara that should boost growth dramatically, likely with improved metrics across the board that already are at compelling levels vs. peers, Wunderlich says in reiterating its Buy rating.
    • In raising its price target to $102, Brean Capital says it would not be surprised to see a competing bid for KOG, but assuming the deal closes as currently constituted, its opinion of WLL is only enhanced as the most attractive opportunity in its coverage universe (Briefing.com).
    • Meanwhile, KOG’s decision to sell now is “curious,” according to Sterne Agee's Tim Rezvan, with a Q2 earnings miss possibly explaining the move; KOG has not set a date to release Q2 results.
    | Jul. 14, 2014, 3:45 PM | 9 Comments
  • Jul. 14, 2014, 2:21 PM
    • Whiting Petroleum's (WLL +7.4%) $6B buyout of Kodiak Oil & Gas (KOG +5.1%) is renewing investor attention on independent energy firms with operations in the Bakken Shale, especially those significantly owned by hedge funds; Paulson & Co. is the single biggest owner of KOG stock, with just under 10% of shares outstanding as of the last filing date.
    • While many of the largest Bakken producers are huge companies or parts of huge companies - Hess (NYSE:HES), EOG, Statoil (NYSE:STO), Marathon Oil (NYSE:MRO), XTO Energy (NYSE:XOM) - a few small and mid-cap independent players show hedge fund interest, CNBC's Brian Sullivan writes.
    • The single biggest holder of Oasis Petroleum (OAS +0.5%) also is John Paulson's hedge fund, which owns 9.9M shares (~9.8% of shares outstanding), Jana Partners owns 16M-plus shares in QEP Resources (QEP +1.4%), and WPX Energy (WPX +1.1%) has substantial hedge fund ownership.
    | Jul. 14, 2014, 2:21 PM | 7 Comments
  • Jul. 14, 2014, 1:44 AM
    • Whiting Petroleum (WLL) will acquire Kodiak Oil & Gas (KOG) creating North Dakota's largest Bakken shale producer. During the first quarter, total combined output of the two companies was more than 107k barrels of oil per day from the Bakken/Three Forks formations.
    • The deal is valued at $6B, including $3.8B in stock and $2.2B in net debt, and is expected to close in Q4. Kodiak shareholders will receive 0.177 share of Whiting stock for each share of Kodiak common stock they own.
    • "It's going to allow our production at the combined company to grow faster than Whiting standalone did before," says Whiting CEO James Volker. "The combined company will have greater access to capital which will accelerate development of oil production."
    | Jul. 14, 2014, 1:44 AM | 32 Comments
  • Jul. 7, 2014, 6:30 PM
    • Energy companies invested hundreds of millions of dollars when they started extracting oil from shale formations in south Texas a few years ago to make the volatile crude was safer to handle, but the failure to do so at the Bakken shale is coming back to haunt the oil industry as the U.S. government seeks to prevent fiery accidents of trains containing North Dakota oil.
    • Only one stabilizer, which can remove the most volatile gases before transport, has been built in North Dakota and it hasn't begun operation, according to a WSJ review; if the government mandates the use of stabilizers, companies would have to make big investments in equipment which could slow Bakken's development.
    • Oil producers are fighting the perception that the biggest risks come from Bakken crude, almost all of which is moved by rail, but safety officials and lawmakers say the dangers extend far beyond North Dakota.
    • Top Bakken producers include CLR, EOG, KOG, WLL, HES, XOM, OAS, NOG, EOX, MRO.
    | Jul. 7, 2014, 6:30 PM | 13 Comments
  • Jul. 1, 2014, 6:45 PM
    • North Dakota regulators tell crude oil explorers to cut the flaring of natural gas or face limits on the amount of oil they can pump from the Bakken shale formation.
    • The state's crude output has surpassed 1M bbl/day, behind only Texas, but while Texas captures all but 1% of the natural gas produced, North Dakota burns 30% of its output as waste as the rate of production has outstripped companies' ability to capture gas through pipeline connections at the source.
    • The North Dakota Industrial Commission is aiming for a 26% reduction in gas flaring statewide by Q4 of this year and another 23% by Q1 2015.
    • Top Bakken producers include CLR, EOG, KOG, WLL, HES, XOM, OAS, NOG, EOX, MRO.
    | Jul. 1, 2014, 6:45 PM | 44 Comments
  • Jun. 27, 2014, 4:53 PM
    | Jun. 27, 2014, 4:53 PM | 103 Comments
  • Jun. 18, 2014, 12:24 PM
    • North Dakota, home to the Bakken shale formation, is now the fourth state in U.S. history to produce more than 1M bbl/day of oil, as the state's Department of Mineral Resources reports output rose 2.5% in April from March to just above 1M bbl/day.
    • North Dakota now produces more than 12% of all U.S. oil and more than 1% of global production - unimaginable just a decade ago
    • Texas, California and Alaska previously have crossed the million-barrel mark; of the three, only Texas remains above it, at almost 3M bbl/day.
    • Among Bakken producers: CLR, EOG, KOG, WLL, HES, OAS, NOG, EOX, MRO.
    | Jun. 18, 2014, 12:24 PM | 12 Comments
  • May 23, 2014, 12:26 PM
    • The revelation that California's Monterey Shale deposit will yield only 4% of what was originally hoped was not a big surprise to those in the know, who say the downgrade does little to alter the near-term trajectory of the energy renaissance.
    • Monterey's terrain, as well as California's strict environmental regulation, always meant full scale drilling would be difficult; Chevron (CVX) bemoaned the lack of profit derived from its Monterey operations at a 2013 shareholders meeting, and Venoco - once one of the biggest drillers in the formation - exited most of its Monterey acreage years ago in order to reduce debt and go private.
    • The Monterey news does spotlight an element of the shale boom that often goes unremarked by fracking advocates: Shale wells are prone to rapid depletion rates, as spots in North Dakota's Bakken lose 85% of their capacity within a few years.
    • Among Bakken producers: CLR, EOG, KOG, WLL, HES, OAS, NOG, EOX, MRO.
    | May 23, 2014, 12:26 PM | 5 Comments
  • May 21, 2014, 6:30 PM
    • Oil and gas producers in the Bakken Shale saw a pickup in production in March and should see an even bigger increase as the weather turns warmer, according to a new report from RBC Capital.
    • Bakken development activity rose to 200 well completions in March vs. 70 in February, and well backlog remains high at ~635 wells, RBC says, expecting operators to work through the backlog since North Dakota has experienced a relatively warm spring.
    • "As completion activity catches up in the early summer and drilling activity remains strong, oil production should top 1M bbl/day around mid-year, the report says.
    • The projection bodes well for producers with a heavy footprint in the Bakken, such as Continental Resources (CLR), EOG Resources (EOG) and Kodiak Oil & Gas (KOG).
    | May 21, 2014, 6:30 PM | 3 Comments
  • May 20, 2014, 6:58 PM
    • Bakken crude oil is similar to other North American light, sweet grades and does not pose a greater rail transportation risk than other transportation fuels, according to a report compiled for a North Dakota energy producers lobby group.
    • The study shows Bakken crude is more volatile than heavier oils such as from Canada’s tar sands, but is similar to light crudes produced elsewhere in the U.S., with characteristics that fall well within the margin of safety for the current tank car fleet.
    • The oil producers' study follows a report with similar results issued last week by a refining industry group.
    • Among Bakken producers: CLR, EOG, WLL, HES, KOG, OAS, NOG, EOX, MRO.
    | May 20, 2014, 6:58 PM | 2 Comments
  • May 16, 2014, 12:39 PM
    • Data released by a lobbying group for oil refiners confirms that crude from North Dakota is very volatile and contains high levels of combustible gases, but the group says the crude is no more dangerous to ship than oil from other shale regions and new rules on safety standards are not needed.
    • Oil and refining companies say it's mostly the railroads that are at fault: a probe into the derailment and explosion of a train in Lac-Megantic last year found that brakes weren’t applied correctly; a train that exploded in North Dakota in December crashed into a train that had derailed across the tracks; and the April explosion of a train carrying Bakken crude through Lynchburg, Va., may have been caused because sections of the track bed had been washed away by heavy rains.
    • Among Bakken producers: CLR, EOG, WLL, HES, KOG, OAS, NOG, EOX, MRO.
    | May 16, 2014, 12:39 PM | 16 Comments
  • May 9, 2014, 8:58 AM
    • BNSF Railway (BRK.A, BRK.B), the main railroad moving crude oil out of the Bakken formation in North Dakota, says a new federal emergency order on rail shipments will not affect its shipments.
    • The U.S. Department of Transportation will require railroads to inform state emergency management officials about the movement of large shipments of crude oil, and will ask companies shipping oil from the Bakken to stop using older generation tank cars that have been involved in several fiery derailments.
    • BNSF says it will comply with the new reporting requirements but does not foresee any impact of service.
    • Related rail/oil stocks: CSX, UNP, NSC, KSU, CP, GWR, OAS, NOG, KOG, CLR, WLL, EOX.
    | May 9, 2014, 8:58 AM | 10 Comments
  • May 7, 2014, 7:20 PM
    • The U.S. Department of Transportation announces steps to improve the safety of shipping crude oil by rail, but unlike its Canadian counterpart, is taking a voluntary approach to the phase-out of older tank cars known to be vulnerable in derailments.
    • The agency recommends energy producers that ship by rail discontinue the use of older DOT-111 model tank cars; in contrast, Transport Canada two weeks ago required a three-year phase-out of older tank cars.
    • DOT is matching Canada’s requirement that railroads disclose to state and county emergency management officials the routing, volume and frequency of crude oil shipments.
    • Related rail/oil stocks: CSX, UNP, NSC, KSU, CP, GWR, OAS, NOG, KOG, CLR, WLL, EOX.
    | May 7, 2014, 7:20 PM | 14 Comments
Company Description
Kodiak Oil & Gas Corp is an independent energy company engaged in the exploration, exploitation, acquisition and production of crude oil and natural gas in the United States.
Industry: Oil & Gas Drilling & Exploration
Country: United States