Kodiak Oil and Gas (KOG) is the latest Bakken operator in the Williston Basin to adjust production down due to weather issues in that area. These issues include flooding and road restrictions due to the record winter snowfall.
Kodiak Oil and Gas expects that the company’s annual net production in 2011 will range from 4,500 barrels of oil equivalent (BOE) per day to 5,000 BOE per day. The previous guidance range was from 5,500 BOE to 6,500 BOE per day, with the company expecting the final number to be near the low end of that range.
Kodiak Oil and Gas still expects to exit 2011 producing 9,000 BOE per day from its Bakken and other operations in the Williston Basin. The company plans to drill 42 gross or 26 net wells in 2011.