Whiting Petroleum Corp. has completed its acquisition of Kodiak Oil & Gas Corp. following the issuance of a final order by the Supreme Court of British Columbia approving the deal on Dec. 5.
Whiting says the merger of the two Denver-based companies, agreed upon in July, creates the largest Bakken-Three Forks producer (OGJ Online, July 14, 2014). The deal enhances Whiting’s oil-weighted platform and is expected to drive production, reserve growth, and operational efficiencies.
“Uniting our complementary acreage positions and substantial inventory of high return drilling locations provides Whiting with an expanded platform for growth,” said James Volker, Whiting chairman, president, and chief executive officer.
Based on the closing price of Whiting stock on Dec. 5, the combined company has a market capitalization of $6.2 billion.