Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Kodiak Oil & Gas (AMEX: KOG) continued their hot streak today, rising 10%.

So what: Today's move comes after the company announced an offering of 20 million shares to reduce debt and fund capital expenditures. If completed at today's price, proceeds would be around $117 million.

Now what: The market is buying into this growth story, and Kodiak is using its higher stock price to fuel further growth. In a presentation today, the company outlined drilling plans and capital spending plans for next year. Kodiak's shares have skyrocketed, more than doubling over the past three months, and this Fool isn't about to stand in the way of a good growth story.

Interested in more info on Kodiak? Add it to your watchlist.