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Denver-based Kodiak Oil & Gas Corp. today announced that it will increase a previously announced private stock offering from 37.5 million shares to 42 million shares, and an offering of senior notes from $550 million to $650 million.
Kodiak said it intends to use the net proceeds of the offering, together with other sources of liquidity, to finance a previously announced proposed acquisition of interests in approximately 50,000 net acres of oil and gas properties and related assets in the Williston Basin in North Dakota to pay debt and fund capital expenditures.
