Kodiak Oil and Gas (KOG) is currently operating three rigs in the Williston Basin and is developing the Bakken and other formations on its acreage in Dunn and McKenzie Counties in North Dakota. The company plans to add a fourth rig in June 2011 and a fifth operated rig in the fourth quarter of 2011.
Kodiak Oil and Gas has six gross or four net operated wells waiting on completion and expects to start completions operations on these wells during the summer of 2011. The company also has four gross or two net non operated wells waiting on completion and expects completion operations to begin in the second or third quarters of 2011.
Kodiak Oil and Gas reported that the Koala #9-5-6-5H Bakken well produced 43,408 barrels of oil equivalent (BOE) during the first thirty days of production. This production was composed of 35,042 barrels of oil and 50.2 million cubic feet of natural gas.