Kodiak Oil & Gas Corp. Announces Vermillion Basin Production and Completes Rig Mobilization

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[{"type":"text","content":"\n\n\n\nDENVER, Nov. 18 /CNW/ -- Kodiak Oil & Gas Corp. (NYSE Alternext US: KOG),\nan oil and gas exploration and production company with assets in the Green\nRiver Basin of southwest Wyoming and Colorado and the Williston Basin of North\nDakota and Montana, today provided a Vermillion Basin production update and\nannounced the pending completion of rig mobilization in its Bakken oil play.\n\n\nVermillion Basin Operations Update -- Sweetwater County, Wyoming\n\n\nKodiak today announced that its Horseshoe Basin Unit well, HSB #5-3 (non-\noperated, 50% WI; 41.7% NRI), was recently connected to sales. During the\nfirst 6.5 days of production, the well produced 3,836 barrels of condensate\nand 21.7 million cubic feet of natural gas (MMcf). Currently the well is\nproducing 412 barrels of condensate and 2.19 MMcf of natural gas equivalents\nper day on a 24/64" choke with 850 psi flowing casing pressure. The well was\ninitially drilled and completed by Kodiak in November 2007. Devon Energy now\noperates the well as part of the first quarter 2008 Vermillion Basin\nExploration Agreement. Drilling activity continues as noted in the Company's\nlast operations update, with drilling operations continuing on two horizontal\nwells.\n\n\nIn other Vermillion Basin activity, Kodiak participated in the completion\nof the shallower Almond and Ericson formations in the Whiskey Canyon Unit\nwell, WCU #3 (non-operated, 13.3% WI; 11.4% NRI). The well has been turned to\nsales at approximately 2.1 MMcf per day. Currently, production tubing is being\nrun and the well will be returned to sales immediately following the\ncompletion of the tubing run.\n\n\nWilliston Basin Operations Update-Dunn County, North Dakota\n\n\nRigging up operations on Kodiak's new-built rig are nearing completion.\nThe first well, the Moccasin Creek (MC) #16-34-2H well (60% WI - Kodiak\noperates), is expected to spud by the end of this week. The well, located in\nthe southwestern portion of Kodiak's leasehold, will be drilled to a proposed\ntrue vertical depth of 10,300 feet, and a projected total measured depth of\n15,700 feet. Upon reaching total depth, the rig will skid to facilitate\ndrilling of the MC #16-34H well (60% WI - Kodiak operates). Completion work\nwill commence after both wells are drilled and liners have been run in each\nlateral well bore.\n\n\nThe first...

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