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Article Excerpt
Initial Production Data Provided on Next Two Middle Bakken Producers; Wells IP at 1,856 BOE/d and 811 BOE/d on 24-hour Production Tests
DENVER, June 24 /PRNewswire-FirstCall/ -- Kodiak Oil & Gas Corp. (NYSE Amex: KOG), an oil and gas exploration and production company with assets in the Williston Basin of North Dakota and Montana and in the Green River Basin of southwest Wyoming and Colorado, today provided an interim update on its Williston Basin drilling and completion activities.
Williston Basin -- Dunn County, North Dakota
On the Company's core Fort Berthold Indian Reservation (FBIR) leasehold in Dunn County, N.D., Kodiak targets oil and gas production from the middle member between the upper and lower Bakken shales, which are the source for existing hydrocarbons. The Three Forks / Sanish Formation, a commercially productive interval lying directly below the lower Bakken shale, is also expected to be a future exploration target.
In early May 2009, Kodiak announced that it had successfully completed its first two producing oil wells in the middle Bakken Formation on the FBIR. Since then, the Company has reached total depth on one additional well, is currently drilling the horizontal leg of its sixth well, and has successfully completed two more wells as middle Bakken producers. As of June 24, 2009, Kodiak had four producing wells, one well awaiting completion and is drilling ahead on the Two Shields Butte (TSB) #14-33-28H.
New Producers Continue to Confirm Geologic Model
The TSB #16-8-7H well (Kodiak operates with 37.5% working interest (WI), before payout (36% WI after payout) and 30% NRI, before payout (29.5% NRI after payout)) reached total depth in April 2009. The well, located in the northwestern portion of Kodiak's FBIR leasehold, was drilled to an approximate total vertical depth (TVD) of 10,350 feet and a total measured depth (TMD) of 19,743 feet, with an 8,995 foot lateral in the middle Bakken.
Fracture stimulation procedures were completed on the TSB #16-8-7H well in early June...
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