Parts I, II, and III: Filloon's Series on Bakken Activity Moving to Williams and McKenzie Counties - Bakken, North Dakota, USA

Part III of Filloon's series on "Bakken activity moving to McKenzie and Williams counties."

Part II of Filloon's series on "Bakken activity moving to McKenzie and Williams counties."

The first part is here.

Of the many nuggets in these two articles, this was particularly interesting:

Kodiak will have a total of 110000 net acres in the Bakken/Three Forks. EUR for the middle Bakken wells in this purchase are estimated to be 650000 Boe. Rumors Kodiak will have cash issues because of this purchase are floating around. This created a very good buying opportunity, as the stock pulled back below $4/share. I do not believe Kodiak has any liquidity issues, as it just cleaned up its balance sheet. Kodiak plans to pay for this acquisition with cash on hand and increased borrowings from its credit facility.

I remember the missed opportunity of buying BEXP a couple years ago for similar reasons.