Link here.
Oil companies are lining up to increase their acreage position in the U.S.' shale plays as they have huge deposits of reserves to extract. The latest is Kodiak Oil and Gas, ...
Kodiak is buying new acreages in the Williston Basin in North Dakota from a private oil and gas company for $590 million in cash and stock. The deal, which is expected to close by January 2012, will increase Kodiak's total acreage in the Bakken shale by 50,000 acres to 155,000 acres ...
The acquisition guarantees Kodiak proven reserves of 19.7 million barrels of oil equivalent. Current output capacity of the reserves stands at about 3,500 barrels of oil equivalent per day ...The icing on the cake is that the acquisition includes gas pipeline facilities connected to an interstate pipeline network to be operational by 2012. The new acreage is also close to a crude oil railway terminal, which is a major source of transport in the Bakken play.
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