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Thursday, May 3, 2012

KOG: 1Q12 Earnings

Link here.
For the quarter-ended March 31, 2012, the Company reported oil and gas sales of $79.9 million, as compared to $13.3 million during the same period in 2011, a 499% increase and a company record.  Kodiak reported an overall 474% increase in quarter-over-quarter equivalent sales volumes of 963 thousand barrels of oil equivalent, or an average of 10,578 BOE per day during the first quarter 2012, as compared to 168 thousand boe or an average of 1,864 boepd in the same period in 2011, not including flared gas.  Crude oil revenue accounted for approximately 96% of oil and gas sales in the first quarter 2012.
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