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Kodiak Oil & Gas provides drilling update; Begins completion activity on wells while increasing working interests ownership on three properties
Kodiak Oil & Gas provides drilling update; Begins completion activity on wells while increasing working interests ownership on three properties.
About this update from Ko Gold, Inc.
[{"type":"text","content":"\n\n\n\n\nDENVER, Nov. 28 /CNW/ - Kodiak Oil & Gas Corp. (TSX Venture: KOG;\nGGF.PK) today provided an update on its drilling, completion and acquisition\nactivities in the Williston Basin and Green River Basin.\n\nWilliston Basin - Montana and North Dakota\n------------------------------------------\nEffective November 1, Kodiak acquired an additional 25% working interest\n(WI) in the Company's Wrangler Project (Lowell and Wrangler Prospects) in\nSheridan County, Montana, bringing the Company's WI to 50%. The acquisition\nincludes: the producing State No. 8-16 and State No. 6-16 wells; the State \nNo. 10-16 well which is awaiting completion; and a 25% WI in the remaining\n7,788 gross undeveloped acreage within the Project area.\nKodiak acquired an additional 12.5% WI under approximately 18,600 gross\nacres in its Great Bear Project in Divide County, North Dakota, bringing the\nCompany's WI to 50%. The Company completed a 25-square-mile 3-D seismic\nprogram over the prospect lands earlier this year. Total consideration for the\ncombined acquisition was $2.1 million dollars, which will be paid out of\ncurrent working capital.\nProduction casing was set on the State No. 10-16 well (50% WI; operated\nby Kodiak) as part of the Company's development of its Lowell Prospect. A\ndrill stem test was run over the top two feet of the producing interval. The\ntest resulted in gas to surface and pipe recovery of 700 feet of gas and mud\ncut oil. Completion work will commence this week. Pipelines and storage tanks\nare being installed to combine production from the State No. 8-16 well, the\nState No. 6-16 well and the State No. 10-16 well into a central production\nfacility.\nIn an effort to further develop the Lowell Prospect, the Christensen\nTrust No. 15-9 well (50% WI; operated by Kodiak) commenced drilling operations\non November 24 and will be drilled to an estimated total depth of 7,700 feet\nto evaluate the potential of the Mission Canyon Formation. This location is\none half mile north of the Company's producing State No. 8-16 and State \nNo. 6-16 wells.\nDrilling operations commenced on Kodiak's Great Bear Project on November\n26 with the Pederson No. 14-9H well (43.75% WI; operated by Kodiak) in Divide\nCounty, North Dakota. The well will evaluate the Red River C Formation at an\napproximate vertical depth of 10,600 feet and a ...