Kodiak Oil & Gas (KOG): An updated Net Income & Cash Flow Forecast model has been posted under the Watch List Tab.
I needed to update this one, so I can work on the consolidated forecast for Whiting tomorrow.
My Fair Value Estimate for KOG is $17.10, compared to First Call's Price Target of $16.69.
The merger with WLL is 99% sure to happen, so the KOG share price will move with WLL until the merger is final. If you own KOG, I recommend hanging tight and taking the WLL shares. I think WLL has a lot of upside for us.
On a stand alone basis, KOG had a very strong quarter. Production was up more than 4,000 boepd despite the tough weather in North Dakota. Production growth is likely to exceed what I show in the model for Q3, but I did not want to go over the midpoint of their official guidance. KOG's production is on-track to top 50,000 boepd (86% crude oil) by year-end.
Whiting / Kodiak Merger
Whiting / Kodiak Merger
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Whiting / Kodiak Merger
Whiting Petroleum (WLL): An updated profile and an updated Net Income & Cash Flow Forecast model have been posted under the Sweet 16 tab. This one has a lot of upside for us. Read the profile carefully.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Whiting / Kodiak Merger
article focuses negatively on large debt incurred with merger
http://seekingalpha.com/article/2451675 ... n?uprof=46
http://seekingalpha.com/article/2451675 ... n?uprof=46
Re: Whiting / Kodiak Merger
They also got a heck of a lot of proven reserves and P2 reserves that are about as close to P1 as you can get.
Whiting's balance sheet can easily handle the debt.
What I like most is that Whiting is a better operator than KOG. They will lower F&D costs, raising the value of the acreage.
Whiting's balance sheet can easily handle the debt.
What I like most is that Whiting is a better operator than KOG. They will lower F&D costs, raising the value of the acreage.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group