Kodiak provided an interim update on its Williston Basin oilfield activities.

Kodiak currently operates a two-drilling-rig program in the Williston Basin, with one rig running in Dunn County, N.D. and the second rig drilling ahead in the Company's Koala Project area in McKenzie County, N.D. In addition, Kodiak anticipates that its joint venture partner will mobilize one non-operated drilling rig to its Dunn County Area of Mutual Interest during the fourth quarter of 2010, where the Company holds a 50% working interest in the first well to be drilled.

Basin-wide, Kodiak currently has five operated wells awaiting completion. Completion operations are underway on one well which is expected to be fully completed by the end of September. A second well is scheduled to be completed in mid-October 2010. Once these wells are completed, the Company will be current on all completion operations, as the remaining three wells awaiting completion are part of a four-well pad currently drilling in Dunn County. When pad drilling is completed, the four wells will commence fracture stimulation in the fourth quarter 2010. Additionally, Kodiak expects to complete two wells in the fourth quarter 2010 that are currently drilling from a two-well pad in its Koala Project area in McKenzie County.

Of the six wells projected for fourth quarter completions, five will have lateral lengths of approximately 9,500-feet and will be completed with stage intervals of approximately 400 feet, resulting in a 24-stage completion design. The sixth well is a 4,500-foot lateral length and will be completed in 12 stages. All completion activity discussed above is targeting the Bakken Formation (four wells) and the Three Forks Formation (two wells).

Since commencing its Williston Basin drilling activities in November 2008, the Company has drilled 19 Bakken and Three Forks wells, has completed 14 wells, and is currently drilling ahead on two wells.

Tags: Kodiak Oil & Gas