Kodiak Oil & Gas to repay first-lien credit loans with note offering

By Tali David

Minneapolis, May 14 - Kodiak Oil & Gas Corp. plans to repay all of the outstanding debt under its first-lien credit agreement with proceeds from its $150 million senior note offering, according to a press release.

Proceeds will also be used to fund capital expenditures for drilling, development and infrastructure, principally in the Bakken play located in North Dakota, and for general corporate purposes, including financing potential acquisitions of oil and gas properties in certain core areas, such as the Bakken play.

Kodiak is a Denver-based energy exploration and development company.

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