August 10, 2010 (FinancialWire) — Kodiak Oil & Gas Corp. (AMEX: KOG) is launching an offering of 25 million shares of its common stock in an underwritten public offering. Credit Suisse Securities  LLC (NYSE: CS), KeyBanc Capital Markets Inc. (NYSE: KEY) and Wells Fargo Securities, LLC (NYSE: WFC) are acting as joint book-running managers.

The company plans to grant the underwriters a 30-day option, solely to cover over-allotments, to purchase up to an additional 3.75 million shares of Kodiak's common stock.

Kodiak plans to use the net proceeds of this offering to fund its working capital needs and capital expenditures related to drilling and development on its operated and non-operated properties, which are principally in the Bakken play in North Dakota, and to finance the potential acquisition of oil and gas properties in certain core areas, such as the Bakken play.

Colorado-based Kodiak Oil & Gas is an independent energy exploration and development company focused on exploring, developing and producing oil and natural gas in the Williston and Green River Basins in the U.S. Rocky Mountains.

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