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Kodiak Oil & Gas Corp. (KOG) Releases Second Quarter Operations Update

Kodiak Oil & Gas Corp. released updated information on the company’s oil and gas operational activity in the Williston Basin in North Dakota.

Kodiak Oil & Gas Corp. has approximately 34,000 net acres under lease in Dunn County, North Dakota. The company just completed the Moccasin Creek #1 well and reported production during the first 12 hours of 871 barrels of oil and 540,000 cubic feet of natural gas. The well is not stabilized enough to report an initial production rate.

Kodiak Oil & Gas Corp. has five other wells in Dunn County either being drilled or waiting on completion. The company is developing the Middle Bakken and Three Forks formation on its acreage here.

Kodiak Oil & Gas Corp. is also building pipeline infrastructure to accommodate new production from Dunn County. The construction is on schedule and should be ready by the second half of 2010.

Kodiak Oil & Gas Corp. has approximately 9,000 net acres under lease in McKenzie County, North Dakota. The company has plans to drill four wells on its acreage here. All four wells will target the Middle Bakken.

Kodiak Oil & Gas Corp. also revised the company’s 2010 capital budget to increase spending by $15 million to a total of $75 million for the year. The extra funds will be used to acquire additional acreage in the Williston Basin.

For more information on the company, go to

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