Kodiak Oil and Gas (KOG) issued an operational update and discussed its activities in the Williston Basin, including the Bakken area in North Dakota and Montana. The company is currently operating 2 rigs on its acreage here. Kodiak Oil and Gas drilled 3 gross, or 1.75 net wells, and completed 2 gross, or 1.2 net wells during the quarter.
Dunn and Mountrail Counties, North Dakota
Kodiak Oil and Gas has 56,000 gross, or 35,000 net acres in these two counties that is prospective for the Bakken and other formations. The company will start completion operations on 3 wells here during the second quarter of 2010, and in May 2010 will spud one of four wells being drilled from a single pad. The newly spud well is in the Two Shields Butte area.
Kodiak Oil and Gas is also participating in 4 non-operated wells in these 2 counties during the second quarter of 2010.
Sheridan County, Montana
Kodiak Oil and Gas reached total depth on the Meagher #16-30 in late April, and is currently conducting completion operations. This is a vertical well testing the Red River area. The company is also currently drilling the Harshbarger 13-20-29, a second vertical Red River test well.
McKenzie County, North Dakota
Kodiak Oil and Gas will spud the Grizzly 13-6-R during the second quarter of 2010. The well is in the Grizzly Project area. The Grizzly 13-6-R will be reentered and completed with a 4,000 foot lateral and will target the Bakken formation.
Kodiak Oil and Gas is also planning to drill the Grizzly Federal #1-27, which was previously drilled and completed with only a one stage hydraulic fracturing operation in 2007. The Grizzly Federal #1-27 will be redone with a multi stage hydraulic fracturing operation and a 9600 foot lateral.
The company has a total of 38,000 gross, or 23,000 net acres under lease in McKenzie County, North Dakota, and in Sheridan County, Montana.