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Kodiak Oil & Gas Corp. Message Board

  • stimulatemypackage stimulatemypackage Feb 21, 2013 12:37 PM Flag

    KOG, OAS, WLL mentioned as possbile next takeover candidates after BRY

    KOG, OAS, WLL mentioned as possbile next takeover candidates after BRY

    LINN Energy, LLC (Nasdaq: LINE), LinnCo, LLC (Nasdaq: LNCO) and Berry Petroleum Company (NYSE: BRY) today signed of a definitive merger agreement where LINN and LinnCo will acquire all of Berry's outstanding shares for total consideration of $4.3 billion. This marks the third takeout in the just a few months and is another example of the hot M&A environment in the energy patch.
    Commenting on the deal, analyst David Tameron of Wells Fargo speculated about potential competitive bidders, noting that the usual suspects Plains Exploration (NYSE: PXP) and
    Occidental Petroleum Corporation (NYSE: OXY) are probably reluctant to get involved at this point.

    He thinks stocks in the space that could see action on the deal include Whiting Petroleum Corp. (NYSE: WLL), Kodiak Oil & Gas Corp. (NYSE: KOG), Approach Resources, Inc. (Nasaq: AREX), Oasis Petroleum Inc. (NYSE: OAS).

    Other companies of interest include Concho Resources, Inc. (NYSE: CXO), Pioneer Natural Resources Co. (NYSE: PXD), Diamondback Energy, Inc. (Nasdaq: FANG), Rosetta Resources, Inc. (Nasdaq: ROSE), and Forest Oil Corporation (NYSE: FST).

    "Finally, Range Resources Corporation (NYSE: RRC) and Cabot Oil & Gas Corporation (NYSE: COG) (although both natural gas weighted), always get a bid when M&A news hits," said Tameron.

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