Kodiak Oil & Gas Upsizes, Prices Private Offering of Senior Notes

Kodiak Oil & Gas Corp. ("Kodiak")

today announced that it upsized and priced a private offering of $350 million in aggregate principal amount of senior notes due 2021 in a private placement to eligible investors. The notes will bear interest at 5.50% per annum and are being issued at a price of 100% of their face amount. The notes will be jointly and severally guaranteed on a senior basis by Kodiak's subsidiary, Kodiak Oil & Gas (USA) Inc. and by certain future subsidiaries. Kodiak expects to close the notes offering on January 15, 2013, subject to the satisfaction of customary closing conditions. Kodiak intends to use the net proceeds of the offering to pay down a portion of the outstanding debt under Kodiak's first lien credit agreement, such that, after giving effect to such pay down, the remaining balance thereunder will be $1.6 million.