Wednesday, March 23, 2011

Kodiak Oil and Gas Corp: Bakken Shale Update

By Andrea:

Kodiac Oil and Gas Corp. (KOG) recently released an update on their Bakken shale activity located in Dunn County, ND:

Kodiak will be mobilizing its third drilling rig in the Williston Basin within 30 days. Kodiak is also participating in one non-operated drilling rig with its joint venture partner in the Dunn County area of mutual interest. The joint venture partner recently reached total depth on its first two long-lateral middle Bakken wells and they are awaiting completion. Kodiak owns a 50% WI and 41% NRI in both wells and retains a comparable interest in all of the AMI lands. The Company has recently been notified that its joint venture partner intends to mobilize a second rig to the AMI in mid-year 2011.

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