Kodiak Oil & Gas has provided an interim update on its Williston Basin drilling and completion activities.
Williston Basin Completion Activities -- Dunn County, North Dakota
Kodiak recently completed two additional Bakken oil wells on its Fort Berthold Indian Reservation (FBIR) acreage block in Dunn County, N.D. These are the fifth and sixth producers completed by Kodiak since the beginning of the year. Information relevant to per-well performance and completions can be found in the tabular section of this operations update.
Bakken producer with 8,313 foot lateral has initial production rate of 1,492 BOE/D
The TSB #14-33-28H, an 8,313 foot horizontal lateral, was successfully completed in 15 stages. The well recorded initial 24-hour production rates of 1,309 barrels of oil per day (BOPD) and 1.1 million cubic feet of natural gas per day (MMcf/d), or 1,492 barrels of oil equivalent per day (BOE/d). During the first seven days of flow-back, the well produced 6,857 barrels of oil (BO) 5.8 MMcf, or 7,828 BOE. Kodiak operates the TSB #14-33-28H with a 50% working interest (WI) and 41% net revenue interest (NRI).
Bakken producer with 4,163 foot lateral has initial production rate of 978 BOE/D
The TSB #14-33-6H well, a shorter 4,163 foot horizontal lateral, was completed in six stages. The well recorded initial 24-hour production rates of 903 BOPD and 453 Mcf/d, or 978 BOE/d. Kodiak operates the TSB #14-33-6H with a 50% WI, and 41% NRI.
Drilling Operations -- Twin Buttes Federal Unit (Charging Eagle and Tall Bear Areas)
Kodiak is currently testing the productive potential of the middle member of the Bakken shale in the southeastern-most portion of the Company's FBIR acreage block which is also part of the newly formed Twin Buttes Federal Unit (TBFU). Within the TBFU, the Company intends to drill three wells. If successful, the wells would indicate the potential for Bakken shale oil production across the entirety of the Company's approximately 58,000 gross and 35,000 net acres under lease as of August 31, 2009.
The first of the anticipated three wells, the CE #1-22-10H well (Kodiak operates with 55% WI and 45% NRI), reached total depth in August 2009 and is a longer 9,950 foot horizontal lateral well design.
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