Business
Kodiak Oil & Gas provides operational update
Kodiak Oil & Gas provides operational update.
About this update from Ko Gold, Inc.
[{"type":"text","content":"\n\n\n\n\nDENVER, Jan. 31 /CNW/ - Kodiak Oil & Gas Corp. (TSX Venture: KOG;\nGGF.PK) today provided an update on its production, drilling and completion\nactivities in the Williston Basin and Green River Basin.\n\nWilliston Basin - Montana and North Dakota\n------------------------------------------\n\nThe Company has completed production facilities on its Wrangler Prospect\n(50% Working Interest (WI); operated by Kodiak) in Sheridan County, Montana.\nThe Company currently has three wells on production with a fourth well\nscheduled to be on production in February. Current field production from the\nthree wells is approximately 400 barrels of oil per day (BOPD). The Company\nhas begun permitting procedures for additional development drilling locations\nin 2006.\nThe Pederson No. 14-9H well (43.75% WI; operated by Kodiak) on the\nCompany's Great Bear Prospect in Divide County, North Dakota reached total\ndepth on January 22. The horizontal well was drilled to an approximate\nvertical depth of 10,600 feet and a total measured depth of 14,725 feet to\ntest the Red River C Formation. Based upon sample shows recovered during\ndrilling, production liner has been set and completion work will follow\nimmediately. The well is a direct offset to a vertical well drilled in 1984\nwith cumulative production of 173,000 barrels of oil and is currently\nproducing approximately 20 BOPD. It is expected that the horizontal drilling\ntechnology will improve the recovery efficiency of the productive interval.\nApproximately three miles east of the Pederson No. 14-9H well, the\nCompany has commenced drilling of the Nielsen No. 14-12 well (50% WI; operated\nby Kodiak) which will be drilled to a vertical depth of 10,750 feet to\nevaluate the Red River C Formation. The well is targeting a seismically-\ndefined structure.\nThe Company recently acquired an additional 25% working interest in its\nGrizzly Prospect, located in the fairway of the Bakken trend in McKenzie\nCounty, North Dakota, bringing its total working interest in the play to\n62.5%. The Company has begun permitting procedures for two locations on this\nblock of acreage and expects to commence drilling operations early in the\nsecond quarter on the Anderson No. 13-6H well (62.5% WI; operated by Kodiak).\nThe Company's acreage has been directly offset to the north with two multi-\nlateral ...