Whiting Petroleum Corporation Buys Kodiak Oil - KFYRTV.COM - Bismarck, ND - News, Weather, Sports

Whiting Petroleum Corporation Buys Kodiak Oil

Posted: Updated:

One of the largest producers in the Bakken just got a bit bigger. Whiting Petroleum Corporation is now the largest producer in the state's Bakken formation. The company stole that title from Continental Resources after purchasing Kodiak Oil and Gas for $3.8 billion over the weekend. And while the merger will increase Whiting's acreage and wells in the state, it could also impact the company's record on the amount of natural gas flared.

"And that's going to change their gas capture number because Whiting was well about 74 percent and Kodiak was well below so, they've got to get their pencils sharp and figure out how to deal with the acquisition," says Lynn Helms of the North Dakota Department of Mineral Resources.

Companies have until Oct. 1 to reach the capture 74 percent of their natural gas instead of flaring it. That goal was set by an order passed by the Industrial Commission earlier this month.

 

  • Latest NewsMore>>

  • Light Treatment Helps with Psychological Disorders

    Light Treatment Helps with Psychological Disorders

    Tuesday, August 26 2014 11:48 PM EDT2014-08-27 03:48:03 GMT
    Doctors still aren't sure how to cure post traumatic stress disorder, but St. Alexius has found a way to help patients by using a unique kind of psychotherapy.
    Doctors still aren't sure how to cure post traumatic stress disorder, but St. Alexius has found a way to help patients by using a unique kind of psychotherapy.
  • Minot Home Buyout Progress

    Minot Home Buyout Progress

    Tuesday, August 26 2014 10:44 PM EDT2014-08-27 02:44:16 GMT
    Twenty homes will need to be demolished to make room for Minot's Flood Protection Plan. 
    Twenty homes will need to be demolished to make room for Minot's Flood Protection Plan. 
  • Classes Begin at MSU

    Classes Begin at MSU

    Tuesday, August 26 2014 7:49 PM EDT2014-08-26 23:49:01 GMT
    Minot State classes have finally begun.
    Minot State classes have finally begun.
Powered by WorldNow
    Powered by WorldNow
    All content © Copyright 2000 - 2014 Worldnow and KFYR. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.