Business
Kodiak Oil & Gas updates Williston Basin activity
Kodiak Oil & Gas updates Williston Basin activity.
About this update from Ko Gold, Inc.
[{"type":"text","content":"\n\n\n\n\nDENVER, CO, Oct. 4 /CNW/ - Kodiak Oil & Gas Corp. (AMEX & TSX Venture:\nG), an oil and gas exploration and production company with assets in the\nGreen River and Williston Basins, today provided an interim operations update\non its 2006 drilling program in the Williston Basin in Montana and North\nDakota.\n\nWilliston Basin - North Dakota and Montana\n------------------------------------------\n\nBakken Prospect - McKenzie County, ND\n-------------------------------------\nKodiak recently completed drilling operations on the Grizzly Federal\nNo.4-11H well (62.5% WI - Kodiak operated), its second Bakken well. These\nlands are located on the Montana - North Dakota state line. Three laterals\nwere drilled in the well with a total of 10,215 feet open in the Bakken\nFormation. Pre-perforated liners have been run into each of the laterals. The\nwell is expected to be on production by mid-October and will be produced\ninitially without artificial lifts and stimulation.\nTwo miles directly east, the Grizzly 13-6H well (62.5% WI - Kodiak\noperated) is producing from a dual-lateral well with 7,629 feet open in the\nBakken Formation. In an effort to draw down reservoir pressure before\nstimulation work, the well was placed on production in late July 2006 flowing\nnaturally without pump at an initial rate 115 barrels of oil per day (BOPD).\nThe well's production dropped off over the following 30 days to 40 BOPD and\nwas placed on pump in late September. Initially the well pumped in excess of\n160 BOPD and is currently producing 60 BOPD. Stimulation procedures are\nscheduled for the third week of October which should increase production from\nthe well.\nKodiak is rigging up to drill the Grizzly Federal No.1-27H well (62.5% WI\nbefore payout, 51% WI after payout- Kodiak operated) two miles north using the\nsame drilling rig. The drilling block for this well encompasses two stand-up\n320-acre tracts and a 9,000 foot lateral well bore in the Bakken Formation is\nprojected for the drilling program. Estimated drilling time for the well is\n45 days with drilling and completion costs net to Kodiak of $2.7 million.\n\nMission Canyon-Sheridan County, MT\n----------------------------------\nRecently, Kodiak completed its interpretation of the 3-D seismic program\nthat was shot immediately west of the Company's producing Lowell Field. Bas...