When I Wasn't Looking: NG to New Highs -- $4.37 -- On a Down Day for Commodities

10:12AM Natural gas to fresh highs at $4.37; now up 13 cents to $4.36.

From Yahoo!InPlay. 

Something tells me we might be seeing a tipping point: natural gas is up despite a) end of winter; b) massive amounts of natural gas being found and produced; c) other commodities falling.

But then again, I am often inappropriately exuberant about the oil and gas industry.

By the way, I see the KOG story hit the Yahoo!InPlay site earlier today.

8:02AM Kodiak Oil & Gas agrees to acquire Williston Basin Producing Properties and undeveloped leasehold (KOG) 6.35 : Co announces that it has entered into a definitive purchase and sale agreement with a private oil and gas co to acquire Bakken/Three Forks leasehold and producing properties in the Williston Basin. The purchase price for the leasehold interests and associated assets is ~$85.5 mln, which will be paid through the issuance of 2.5 mln common shares of KOG and cash. With the expected delivery date of the fifth rig in the fourth quarter 2011, the co anticipates ~$10 mln of additional CAPEX related to the rig, bringing estimated 2011 capital expenditure guidance for drilling, completions and infrastructure to $230 mln.