Random Note on KOG -- The Bakken, North Dakota, USA

Disclaimer: with this much data; with data taken from various dated snapshots -- there will be errors. See original source documents to fact check.

Reviewing the KOG December, 2011, corporate presentation. Data points that jump out at me:

• The North Plains Energy acquisition is in the Bull's Eye of the Bakken; this may be the best acquisition in the Bakken since 2010 by any company
• Current production: about 16,000 boepd; end of 2012: 30,000 boepd (I think this exceeds BEXP; similar to CLR's -- have to check)
• More and more multi-well pads; doesn't diminish production; 700' wellbore separation
• 1 million bbls EUR
• $10 million/long lateral; similar to $5 million for short lateral
• Will increase # of rigs from 5 to 12 by end of 2012

Bottom line: impressive

From my FAQs page.  Note: the net acreage has been updated; other data may not be current.

Kodiak (KOG)

• 155,000 net acreage in the Bakken after January, 2012, closing on North Plains Energy, LLC, assets
• Exit 2011: 17,000 (est December, 2011); 9,000 (est 3Q11) (was 11,000 boepd -- estimate as of October, 2011)
• Avg-2012: 24,000 (est Nov 11; after North Plains acquisition); exit 2012, 30,000 boepd
• Five operated rigs; drilling on multi-well pads; 33.4 net producing wells (before January, 2012 acquisition); 6 rigs in January, 2012; 2 more in Q2/Q3 bringing to total of 8 by late 2012
• JV partner with 2 rigs; 50% WI
• One dedicated HAL fracking crew as of 1Q12
• Total Bakken net acres: 155,000 net acres (ND: 150,500 ; MT: 4,500 acres)
• November, 2011 announcement, acquisition: Divide County, McKenzie County, 50,000 acres
  
• Prior to the June 30, 2011, acquisition: Total Bakken net acres: 70,000 net acres (Dunn County: 35K; McKenzie County: 35K) 

Prospects -- new names (older designations)

• Koala -- McKenzie (Western Trend); 10,000 net acres, bull's eye of the Bakken
Koala Prospect: southeast of Williston, south of river, Williams Count (10,000 net acres)
Smokey Prospect: McKenzie County, 11,742 net acres; between their acreage on the reservation and the newer Koala Prospect area and just to the west of the southern tip of the Nesson Anticline (16,000 net acres)
 
• Polar - Williams Country (North Flank Trend); 16,000 net acres
  

Polar Prospect: northern and southern Divide; just north of BEXP's Rough Rider

• Grizzly - McKenzie County (SW Bakken - TF Trend); 25,000 net acres
  

June 30, 2011 Acquisition -- East Grizzly Prospect: far southeast end of Elm Coulee on ND side (22,000 net acres); previously about 4,000 net acres in this area, the far southeast end of Elm Coulee on ND side

• FBIR- Dunn County (Eastern Trend); 34,000 net acres
  

Dunn County Core area: northeast Dunn County, south of river (west of river), FBIR (34,000 net acres); birthplace of KOG in the Bakken

• Smokey - McKenzie County, 16,000 net acres
  

• Jan 2012 Acq - Williams and McKenzie; 50,000 net acres
  

• (Other Williston Basin: Montana, northwest of Williston, Sheridan County, 4,500 net acres)

Net Acreage

• Corporate presentation, December, 2011:  155,000 net acres
  
• Analyst's number, December 31, 2010: 72,000 net acres 

Lease Positions in Dunn County

• 34,000 net acres
• Original 5-year lease terms with 1-2 years remaining on existing leases

EURs in Dunn County

• 1 million bbls for long lateral Bakken horizontals
• $10 million to complete a well
• 700' well-bore separation (this blog was the first to talk about this separation on a regular basis)

IPs for wells with 700' wellbore separation

• TSB 2-24-12-2H, 1,752
• TSB 2-24-12-1H3, 3,083