12 Best Energy Stocks to Buy Now
OptionsZone Experts, June 3, 2009
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Energy Play #8: Kodiak Oil & Gas (KOG)
By Tobin Smith
Kodiak Oil & Gas (KOG) engages in the exploration, exploitation, acquisition, and production of natural gas and crude oil. It's targeting the hot Bakken Shale region, as well as the Green River Basin in Wyoming, where the company is developing the Baxter Shale formation. KOG is jointly developing its acreage with bigger player Devon Energy (DVN). Kodiak drilled four wells with Devon in 2008, but is delaying completion until energy prices recover.
KOG just issued equity in a secondary offering and raised $7.15 million to develop its properties. The company reported a loss in the first quarter of 2009, but had no debt. And as new fields come online, KOG will rock.
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