Even as U.S. shale companies pursue mergers, analysts don't expect them to become echoes of Big Oil deals that eventually fell flat.» Read More
NEW YORK, July 14- A $6 billion takeover to create the biggest oil producer in the Bakken shale may also open up new opportunities for some big traders who ship oil from North Dakota and Montana to market.
NEW YORK— Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market:. Kodiak Oil& Gas Corp., up 68 cents to $14.91. URS Corp., up $6.38 to $58.40.
NEW YORK— A look at the 10 biggest percentage gainers on New York Stock Exchange at 1 p.m.:. Panhandle Royalty Co. rose 13.9 percent to $60.72. URS Corp. rose 11.8 percent to $58.16.
The $6 billion buyout of Kodiak Oil & Gas is renewing attention on energy firms in North Dakota's Bakken formation.
Big mergers are afoot. But is a major shale oil deal a sign of a strong market?
Stocks shook off last week's doldrums and finished sharply higher Monday, driven by a round of corporate deal news and strong earnings from Citigroup. Investors cheered AECOM Technology's $4 billion acquisition of engineering and construction services company URS Corp., sending URS' stock up 11.6 percent and AECOM 8.6 percent.
Whiting Petroleum said it would acquire Kodiak Oil& Gas for $3.8 billion, becoming the largest producer in North Dakota's Bakken shale play.
Some of the names on the move ahead of the open.
July 13- Whiting Petroleum Corp said on Sunday it would acquire Kodiak Oil& Gas Corp for $3.8 billion in stock, to become the largest producer in North Dakota's Bakken shale oil formations, eclipsing Harold Hamm's Continental Resources Inc..
July 13- Whiting Petroleum Corp said on Sunday it would acquire Kodiak Oil& Gas Corp for $3.8. Bakken/ Three Forks oil formations. The formations, within the Williston Basin in North Dakota and Montana, are among the largest oil plays in the United States.
DENVER— Whiting Petroleum Corp. said Sunday it is buying Kodiak Oil& Gas Corp. for $6 billion in stock, worth $13.90 per share, in a deal that will make it the largest producer in the booming Bakken region of North Dakota and Montana. The combined company had over 107,000 barrels of oil equivalent production per day in the first quarter.
July 13- Whiting Petroleum Corp on Sunday said it would acquire Kodiak Oil& Gas Corp in an all-stock deal valued at $6 billion, and thereby become the largest producer in the Bakken/ Three Forks oil formations.
Some of 2014's biggest winners are slated to share their next big ideas at this year's Delivering Alpha Conference.
WASHINGTON, May 14- Despite several fiery mishaps involving fuel produced in North Dakota's Bakken energy patch, cargo from the region does not need special handling when it moves on the tracks, the leading voice for U.S. refiners said on Wednesday.
WASHINGTON, May 2- Few oil-by-rail shippers have heeded calls for information to prevent dangerous mishaps on the tracks, the U.S. Department of Transportation said on Friday as it named the three companies it said have cooperated. Testing data has so far been tallied from Exxon Mobil, Continental Resources Inc and Savage Companies, the agency said.
NEW ORLEANS, March 3- A U.S. emergency order to test oil shipped by rail highlights what many industry officials have long said is a flawed method for testing the volatility of types of oil that have been involved in several fiery train derailments in the last year.
March 2- While Colorado environmental groups work to put a ballot measure before voters this fall that could severely hobble the U.S. energy industry, Whiting Petroleum Corp is busy figuring out where in the state it can spend $10 billion over the next decade. The Denver- based company sees Colorado as key to its plan to sharply boost oil and natural gas production.
WASHINGTON, Feb 26- Oil companies handling volatile fuel out of North Dakota's energy patch must consider the dangers of flammable gas carried in the kind of oil-by-rail shipments involved in a string of fiery derailments, a U.S. regulator said on Wednesday.
WASHINGTON, Feb 26- U.S. lawmakers are expected to question regulators and rail industry officials on Wednesday about several recent fiery derailments, focusing on whether shipments from energy producing regions such as North Dakota's Bakken area are being handled safely.
Recent accidents have analysts looking at companies that could be exposed to new rules governing oil shipments from the Bakken region.