KOG Provides Year-End 2012 Proved Reserves and 4Q12 and Annual Sales Volumes

Press release at KOG homepage (link will probably break/change after some weeks):

138% Increase in 2012 Estimated Proved Reserves Quantities
Kodiak's estimated total proved reserves at December 31, 2012 were approximately 94.8 million barrels of oil equivalent (MMBoe), as compared to 39.8 MMBoe at December 31, 2011.  The 2012 total represents a 138% increase from 2011's estimated proved reserves on an equivalent basis, and is comprised of 80.9 million barrels of crude oil and 83.1 billion cubic feet (Bcf) of natural gas.  The 2012 reserve mix is 85% crude oil, along with 15% associated natural gas.  Approximately 46% of the 2012 total proved reserves are categorized as proved developed producing and approximately 54% are classified as proved undeveloped.  Substantially all of the Company's estimated proved reserves are located in the Williston Basin.  

For 2012 reserve quantities, Kodiak's estimated future cash flows, discounted at an annual rate of 10 percent before giving effect to income taxes (commonly known as PV-10 value), for proved reserves at year-end was $1.9 billion, as compared to $850.7 million at December 31, 2011, reflecting a 126% increase.  Approximately $1.4 billion of the PV-10 value is attributed to the proved developed producing reserves.