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Whiting Petroleum Corp said on Sunday it would acquire Kodiak Oil & Gas Corp for $3.8 billion in stock, to become the largest producer in North Dakota's Bakken shale oil formations, eclipsing Harold Hamm's Continental Resources Inc . "It's going to allow our production at the combined company to grow faster than Whiting standalone did before," Whiting Chief Executive James Volker said in an interview. Whiting said the deal, valued at $6 billion when Kodiak's net debt of $2.2 billion is included, is expected to close in the fourth quarter. Whiting's Volker added that the combined company will have greater access to capital which will accelerate development of oil production.